This week started brightly for Aim journeyman Ceres Power (CWR), which saw its share price rocket 45 per cent in Monday trading. Investors were buoyed by the signing of a two-year joint venture with Honda’s energy division to develop fuel cell stacks using Ceres’ steel cell technology.
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The deal – which will be used in “potential power equipment applications” – was light on financial details, and follows a similar 2014 agreement with a then-unnamed Honda. This time round, an anonymous third party will also “consider the future mass production scale-up of the steel cell technology”.