Doosan Fuel Cell begins mass production of fuel cell power systems using Ceres technology
Major milestone for Ceres and Doosan partnership
Products will target rapidly growing AI/data centre and commercial power markets
HORSHAM, United Kingdom, July 28, 2025 (GLOBE NEWSWIRE) -- Ceres Power Holdings plc (CWR.L, 'Ceres' or the 'Company'), a leading developer of clean energy technology, and the Doosan Corporation announce that Doosan Fuel Cell has commenced mass market production of fuel cell stacks using Ceres' solid oxide technology. Doosan Fuel Cell will manufacture the stacks and fuel cell power systems at its dedicated factory in South Korea with the ability to produce a combined generational capacity of 50MW of electrical power each year.
This commencement of manufacturing marks a significant milestone for Ceres, as Doosan is the first of its strategic licensing partners to enter mass production using its technology. The fuel cells, stacks and power systems that Doosan Fuel Cell produces will be marketed initially to customers in South Korea.
The Ceres designed fuel cells will be manufactured in Doosan Fuel Cell's state-of-the-art factory in the province of Jeollabuk-do, South Korea, where construction began in 2022. Its completion marks the world's first Ceres metal supported solid oxide fuel cell and systems facility to come on-stream. Doosan Fuel Cell anticipates the sale of its first solid oxide fuel cell products will occur before the end of 2025.
Doosan Fuel Cell will distribute the solid oxide systems, with a primary market focus on applications for stationary distributed power. These include data centres, where the advent of AI processing has caused a spike in power demand that can be met by the deployment of fuel cells. Other uses include the stabilisation of renewables-based power grids and microgrids through peak power production, power systems for buildings, and auxiliary power solutions for marine shipping markets.
Phil Caldwell, Chief Executive Officer of Ceres, said: "Fuel cells have a major part to play in meeting the world's rapidly-increasing power demands, developing energy resilience and ensuring decarbonisation. Ceres' solid oxide design is the ideal technology for these applications through its higher efficiency, lower cost and greater robustness than other technologies. Doosan Fuel Cell's commencement of mass manufacturing is a major step in bringing this technology to the world."
Doosoon Lee, Chief Executive Officer of Doosan Fuel Cell, said: "Fuel cells, a clean energy solution, are gaining attention as an optimal alternative to various power demands triggered by AI, including data centres. In South Korea, the world's leading fuel cell market, we aim to lead the adoption of advanced SOFCs by leveraging our collaboration with Ceres. By commercialising these technologies and promoting their domestic production, we intend to spearhead the acceleration of the global transition to a decarbonised society through eco-friendly energy solutions in the commercial power market and maritime mobility."
For further information visit www.ceres.tech or contact:
Ceres Power Holdings plcPatrick Yau/ Merryl Black
Tel: +44 (0)7884 654179Email:investors@cerespower.com
MHP Group (PR Adviser)Reg Hoare/James McFarlane/Matthew Taylor
Tel: +44 (0) 7827 662831Email:ceres@mhpgroup.com
About Ceres
Ceres is a leading developer of clean energy technology: fuel cells for power generation and electrolysers for the production of green hydrogen. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Doosan, Delta, Denso, Shell, Weichai and Thermax. Ceres' solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, ammonia and future fuels. Ceres is listed on the London Stock Exchange ("LSE") (LSE: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy. Read more on our website www.ceres.tech or follow us on LinkedIn.
About Doosan Fuel Cell.
Doosan Fuel Cell is a subsidiary of Doosan Group, which has a history of over 129 years, making it the oldest conglomerate in South Korea. As a leading fuel cell solution provider with proprietary technology for the world's first commercial fuel cell, Doosan Fuel Cell offers hydrogen solutions including PAFC (Phosphoric Acid Fuel Cell) and SOFC (Solid Oxide Fuel Cell). They provide integrated solutions encompassing the design, technology development, manufacturing, installation, operation, and maintenance of key fuel cell technologies such as stacks and systems. Doosan Fuel Cell, which established the world's first and largest hydrogen fuel cell power plant, is expanding its business area beyond stationary power to include mobility through marine models. The company is committed to addressing climate change and achieving Net-Zero. For more details, please visit its website at www.doosanfuelcell.com or follow it on LinkedIn.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6bb6588b-f3d3-4611-92d0-e35ec2ad07c4
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
Magnachip Introduces TOLT-Packaged 80V MXT MV MOSFET for E-Scooters and LEVs
- Significant Improvements in Thermal Management and Power Efficiency for Motor Control Systems in E-Scooters and Light Electric Vehicles (LEVs) SEOUL, South Korea, July 28, 2025--(BUSINESS WIRE)--Magnachip Semiconductor Corporation ("Magnachip" or "Company") (NYSE: MX) today announced the release of a new 80V MXT MV MOSFET, MDLT080N017RH, featuring a TOLT (TO-Leaded Top-Side Cooling) package. The Company has already begun supplying the new MOSFET to a leading global electric motor manufacturer. The TOLT-packaged MOSFET delivers a major advancement in thermal management. Unlike conventional TOLL (TO-Leadless) packages that dissipate heat through the bottom, the TOLT package is engineered to release heat directly from the top via a mounted metal heat sink. This innovative structure substantially reduces thermal resistance between the junction and the external environment, making it well-suited for thermally demanding applications, such as e-scooters and LEVs. Simulations and tests conducted by Magnachip demonstrated that our new 80V MV TOLT package solution achieved an average 22% reduction in junction temperature compared to using standard TOLL packages. This improvement not only extends an application's lifespan, but also enhances the system reliability. Furthermore, the TOLT package enables compact, lightweight application designs thanks to its high power density and efficient thermal flow that does not compromise current-handling capability and thermal safety margins. "This new 80V MXT MV MOSFET, equipped with the TOLT package, is a testament to Magnachip's advanced capabilities in high-performance and energy-efficient power semiconductors," said YJ Kim, CEO of Magnachip. "We remain committed to delivering next-generation solutions that address evolving customer needs to strengthen our position in the global power market." Magnachip's New TOLT-Packaged 80V MXT MV MOSFET Product MDLT080N017RH Rated Voltage 80V RDS(on) 1.7 mΩ (Max., VGS=10V) Package TOLT (TO-Leaded Top-Side Cooling) Applications E-scooters, LEVs, e-bikes, personal mobility devices, high-efficiency DC motor drives, battery management systems, power distribution systems, and more. Related Links Power Solutions > MXT MOSFETs > 80V Related Articles Magnachip Expands Automotive Power Product Lineup with Four New 40V MXT MV MOSFETs Magnachip Boosts Its Extensive Automotive Product Lineup with the Release of a New 40V MXT MV MOSFET About Magnachip Semiconductor Magnachip is a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for various applications, including industrial, automotive, communication, consumer and computing. The Company provides a broad range of standard products to customers worldwide. Magnachip, with about 45 years of operating history, owns a portfolio of approximately 1,000 registered patents and pending applications, and has extensive engineering, design and manufacturing process expertise. For more information, please visit Information on or accessible through Magnachip's website is not a part of, and is not incorporated into, this release. View source version on Contacts United States (Investor Relations):Steven C. Pelayo, CFAThe Blueshirt GroupTel. +1(360) 808-5154steven@ USA media / industry analyst:Mike NewsomLouVan Communications, + Korea / Asia media:Min A KIMSenior manager of Public RelationsTel. + Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
14 minutes ago
- Forbes
Sell Merck Stock Ahead Of Its Upcoming Earnings?
CHONGQING, CHINA - JULY 27: In this photo illustration, a person holds a smartphone displaying the ... More logo of Merck & Co., Inc. (NYSE: MRK), a leading American multinational pharmaceutical company, with the company's iconic green and white emblem visible in the background, on July 27, 2025 in Chongqing, China. (Photo illustration by) Merck (NYSE:MRK) is set to reveal its earnings on Tuesday, July 29, 2025. Historically, MRK stock has exhibited a trend of negative one-day returns following earnings announcements. In the past five years, the stock saw a decline on the day following earnings in 60% of occurrences. The median one-day drop was -2.1%, with the largest single-day decrease reaching -9.8%. Although the actual results relative to consensus estimates will be significant, recognizing these historical patterns can give an edge to event-driven traders. There are two main strategies to utilize this information: Analysts anticipate earnings of $2.03 per share on revenue of $15.87 billion for the forthcoming quarter. This indicates a slight reduction compared to the earnings of $2.28 per share on sales of $16.11 billion from the same quarter last year. This expected decrease in sales is primarily due to ongoing difficulties faced by Gardasil in China, despite the continued growth in Keytruda sales. Additionally, see – Merck's Keytruda Dependency: A Growth Story With An Expiration Date. From a fundamental viewpoint, Merck currently has a market capitalization of approximately $212 billion. Over the past twelve months, the company generated $64 billion in revenue, and was operationally profitable with $20 billion in operating profits and a net income of $17 billion. That being said, if you are looking for upside with lower volatility than individual stocks, the Trefis High Quality portfolio offers an alternative — having outperformed the S&P 500 and produced returns exceeding 91% since its inception. View earnings reaction history of all stocks Merck's Historical Odds Of Positive Post-Earnings Return Insights on one-day (1D) post-earnings returns: Additional data for the observed 5-Day (5D) and 21-Day (21D) returns post earnings are summarized along with the statistics in the table below. MRK 1D, 5D, and 21D Post Earnings Return Correlation Between 1D, 5D, and 21D Historical Returns A relatively low-risk strategy (though not beneficial if the correlation is weak) is to understand the relationship between short-term and medium-term returns after earnings, identify a pair with the highest correlation, and execute the suitable trade. For instance, if 1D and 5D exhibit the strongest correlation, a trader can position themselves 'long' for the next 5 days if the 1D post-earnings return is positive. Here is some correlation data based on 5-year and more recent 3-year history. Note that the correlation 1D_5D refers to the correlation between 1D post-earnings returns and subsequent 5D returns. MRK Correlation Between 1D, 5D and 21D Historical Returns Is There Any Correlation With Peer Earnings? Occasionally, the performance of peers can influence the post-earnings reaction of stocks. In fact, the pricing-in might start ahead of the earnings announcement. Below is some historical data comparing Merck's post-earnings performance with that of peers who reported earnings just prior to Merck. For a fair comparison, peer stock returns also represent post-earnings one-day (1D) returns. MRK Correlation With Peer Earnings Find out more about Trefis RV strategy that has outperformed its all-cap stocks benchmark (a combination of all 3, the S&P 500, S&P mid-cap, and Russell 2000), delivering strong returns for investors. Alternatively, if you desire upside with a smoother experience than an individual stock like Merck, consider the High Quality portfolio, which has surpassed the S&P, achieving >91% returns since inception.
CNN
17 minutes ago
- CNN
Elon Musk says Tesla and Samsung have signed a $16.5 billion chip deal
Tesla CEO Elon Musk said the U.S. automaker had signed a $16.5 billion deal to source chips from Samsung Electronics, a move expected to bolster the South Korean tech giant's loss-making contract manufacturing business. Samsung's shares jumped as much as 6.8% to their highest since September last year after news of the deal. Tesla shares were up 1.9% in U.S. premarket trading. Musk said Samsung's new chip factory in Taylor, Texas will make Tesla's next-generation AI6 chip, potentially re-energizing the project that has faced long delays amid Samsung's difficulties in retaining and attracting major clients. 'Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,' Musk said in a post on X on Monday. 'The $16.5B number is just the bare minimum. Actual output is likely to be several times higher,' he said in another post. According to a senior analyst at NH Investment & Securities, Ryu Young-ho, Samsung's Taylor fab 'so far had virtually no customers, so this order is quite meaningful.' In October, Reuters reported that Samsung had postponed taking deliveries of ASML chipmaking equipment for its Texas factory as it had not yet won any major customers for the project. It has already delayed the plant's operational start to 2026. While no timeline was provided for AI6 chip production, Musk has previously said that next-generation AI5 chips will be produced at the end of 2026, suggesting AI6 would follow. Lee Dong-ju, an analyst at SK Securities, expects production in 2027 or 2028, but Tesla has a history of missing its targets. Samsung currently makes Tesla's AI4 chips, which power its Full Self-Driving driver assistant system, while TSMC is slated to make the AI5, initially in Taiwan and then Arizona, Musk has said. Samsung, the world's top memory chip maker, also produces logic chips designed by customers through its foundry business. The Texas project is central to Samsung Chairman Jay Y. Lee's strategy to expand beyond its bread-and-butter memory chips into contract chip manufacturing. It holds just 8% of the global foundry market, far behind industry leader TSMC, which has a 67% share, data from market researcher Trendforce show. Samsung had earlier announced the $16.5 billion chip supply deal without naming the client, saying the customer had requested confidentiality about the details of the deal, which will run through the end of 2033. Three sources briefed about the matter told Reuters that Tesla was the customer for the deal. The deal with Tesla comes as Samsung, which is due to report its earnings on Thursday, faces mounting pressure in the race to produce artificial intelligence chips, where it trails rivals such as TSMC and SK Hynix. This lag has weighed heavily on its profit and share price. Earlier this month, Samsung projected a 56% drop in second-quarter operating profit, partly due to widening losses of its foundry business. Pak Yuak, an analyst at Kiwoom Securities, said the deal would help reduce losses at Samsung's foundry business, which he estimates exceeded 5 trillion won ($3.6 billion) in the first half of the year. Analysts say Samsung has struggled to retain key clients, with many defecting to TSMC for advanced chips, underscoring technological challenges the firm faces in the race to stay relevant in the capital intensive business. TSMC counts Apple, Nvidia and Qualcomm among its customers. It is not clear whether the Samsung-Tesla deal is related to ongoing trade talks between South Korea and the United States. Seoul is seeking U.S. partnerships in chips and shipbuilding amid last-ditch efforts to reach a trade deal to eliminate or reduce potential 25% U.S. tariffs.
