“… the Company has continued to explore various strategic options and these discussions are on-going. In the event, the Company is not able to progress any proposals to a successful conclusion, it will as previously announced commence an orderly wind down of the business.”
The company had previously announced the commissioning of an independent assessment of its fuel cell technology by a respected expert. An executive summary of the assessment, published in September 2012, concluded that:
“Ceres Power SOFC technology is highly differentiated and has the potential for cost leadership in mass manufacturing of cells and stacks, with performance and durability meeting the requirements of volume applications such as residential CHP. The Company has intellectual property rights and trade secrets which provide considerable protection against emergence of competition.”
and that:
“Patents and know-how covering laser drilled foil substrate, cell configuration, stack design, manufacturing procedures and conditions provide significant protection against competition.”
