Ceres Power to lead LEV research team

Ceres Power was revealed on Tuesday as a major part of a consortium, set to trial its steel cells as a way of extending the range of light commercial vehicles.

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The AIM-traded firm said it would receive £573,000 of a £772,000 grant from Innovate UK and the Office for Low Emission Vehicles.

It would lead the team conducting the trial, which also included an unnamed global automotive company.

"We have always said that our innovative steel cell technology has a range of potential applications and are delighted to lead on this exciting project to help cut vehicle emissions globally,” said Ceres Power CEO Phil Caldwell.

“This is our second partnership announcement this year in line with our stated strategy to embed our technology into a variety of different power products with the world's leading companies,” he added.

The funding was part of a £38m fund from OLEV and Innovate UK, which is intended to develop ideas to cut vehicle emissions and allow plug-in vehicles to drive further.