CPWHF - Ceres Power Holdings Plc. (CPWHF) Q4 2023 Earnings Call Transcript
2024-04-15 12:58:07 ET
Ceres Power Holdings Plc. (CPWHF)
Q4 2023 Earnings Conference Call
April 15, 2024, 04:30 AM ET
Company Participants
Elizabeth Skerritt - Director of Investor Relations
Phil Caldwell - Chief Executive Officer
Eric Lakin - Chief Financial Officer
Conference Call Participants
Chris Lennon - UBS
Ken Rumph - Goodbody
Nick Walker - Peel Hunt
James Carmichael - Berenberg
Presentation
Operator
Ceres Power Holdings Plc Full-Year Results Investor Presentation.Throughout this recorded meeting investors online will be in listen-only mode. [Operator instructions].
Before we begin we'd like to submit the following poll and if you give that your kind attention I'm sure the company be most grateful. I'd now like to hand over to the management team from Ceres Power, Phil, Eric, Elizabeth, good morning.
Phil Caldwell
And good morning everybody and thank you for joining us for the full year results presentation. I'm joined by Eric Lakin, CFO and by Elizabeth Skerritt, Head of IR. And we just want to talk you through last year's results and also give you an update on company strategy for this year so without further ado let's move on.
So what we're facing I think now at Ceres is actually a very strong outlook for 2024. 2023 had had some challenges but actually if you look at where the company is right now we're in we're in good shape. Both on the current SOFC business and also into the acceleration of the SOEC business which was a big strategic decision we took several years ago and they're starting to actually pay dividends.
So in summary what we've achieved in the last 12 months we see progress with Bosch on the power units that they're developing backed up with €160 million of EU funding. We've got a lot of exciting progress at Doosan with the factory build in South Korea, 50-megawatt factory and actually during this presentation we'll actually give you a video insight into that factory being built which is fantastic and that's on schedule for commissioning.
Our relationship with Weichai remains very strong and we're actually developing larger power units now 75-kilowatt stationary power units so we're giving an update on Weichai. Technically there's a lot going on we've developed our next generation of stack technology, which is a larger footprint stack higher power density to really scale as we go into modular sizes of tens of kilowatts to hundreds of kilowatts to megawatts and ultimately for SOEC into hundreds of megawatts to gigawatts scale....
Ceres Power Holdings Plc. (CPWHF) Q4 2023 Earnings Call Transcript