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Ceres Power upgraded its outlook on performance following 'strong' commercial progress following significant investments by Bosch and Weichai.
For the 18 months ended 31 December 2020, which will be released on Thursday 18 March 2021, Revenue and other operating income would be around £32-33 million, above market expectations, the company said.
The order book and pipeline were £54 million and £44 million respectively at 31 December 2020, compared to £22 million and £50 million at 31 December 2019.
Bosch was now preparing to scale up to mass manufacture and targeting production capacity of 200MW in 2024.
Weichai continued its bus trials employing Ceres' SteelCell due to complete in H1 2021 as a key step towards establishing a joint venture between Weichai and Ceres in China in mid-2021, the company said.
At 8:29am: (LON:CWR) Ceres Power Holdings PLC share price was 0p at 750p