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22 08 2018 02

Bosch is entering a strategic partnership with solid-oxide fuel-cell (SOFC) specialist Ceres Power. Bosch also plans to make a £9-million (US$11.5 million) strategic equity investment in Ceres for an approximate 4.4% equity stake. The two companies signed a collaboration and license agreement, for the further development of technology, and establishment of small-volume production operations at Bosch, as well as a share purchase agreement, on 20 August.

Ceres and Bosch have been working together through a joint development agreement (JDA) that Ceres first announced on 10 January 2018. Bosch was not named at the time for confidentiality reasons.

The Collaboration and Licence Agreement includes joint development agreements. These agreements provide very significant staged revenues to Ceres through technology transfer and licensing and longer-term royalties on 5 kW SteelCell stacks, as well as initial engineering services. The initial value to Ceres Power to 2020 will be around £20 million (US$26 million), subject to performance criteria.

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