Ceres forms strategic partnership with RFC Power for long-duration energy storage
By Will Hall - 22nd November 2021
UK – Horsham-based fuel cell developer Ceres Power Holdings Plc has entered a strategic partnership with RFC Power Ltd, based in London. RFC is developing a low-cost flow battery, a hybrid between a fuel cell and a battery. The firm was spun out from Imperial College’s Departments of Engineering and Chemistry by the institution’s innovation arm in 2017.
The joint development agreement will aim to accelerate RFC’s technology using Ceres’ electrochemistry capabilities and device engineering. In exchange for its efforts, Ceres will receive an 8.4% shareholding in RFC. Ceres will also have the opportunity to acquire the balance of the outstanding share capital in the company for up to GBP25 million.
