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Improved revenue for Ceres Power Holdings in 2023

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By Luke Willetts - 20th May 2024

UK – Ceres Power Holdings plc, a fuel cell system manufacturer based in Horsham, UK, has published its 2023 financial statements with revenue of GBP 22.3 million compared with 2022 figures of GBP 19.8 million. Clear progress was made last year with 2023 gross profit coming in at GBP 13.6 million (2022: GBP 10.7 million). In order to drive innovation in electrolyser technology, the company invested heavily in R&D with an investment amount of GBP 54 million (2023). Cash flow has reduced from GBP 67.3 in 2022 to GBP 42.4 million due to the aforementioned investments.

Operational highlights

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