- Sales climb ahead of forecast 2024 bump
- Hydrogen business growing but profitability still far off
Ceres Power (CWR) remains in the development stage of its business. Management says its agreements with major industrial partners such as Bosch and Linde (US:LIN) are progressing well, however, and sales are set to double in 2024. The fuel cell and hydrogen electrolyser company reported revenue of just £22mn in 2023, while higher spending took the operating loss up 10 per cent to £59.4mn. The R&D outlay kicked up 11 per cent to £54mn.