CERES POWER HOLDINGS PLC - Results for the year ended 31 December 2025

Ceres Power Holdings PLC (CWR:LSE) reported its 2025 full year results with a strong investor update highlighting progress toward commercialization of its solid oxide technology, supported by a growing global partner network and a clear growth strategy. The company signed new manufacturing licence agreements, including Weihai in China, while partners such as Doosan, Delta, and Denso advanced production, scaling capacity and generating initial royalty revenues. Financial results reflect stable high margins under an asset light model, disciplined cost management, and a robust cash position exceeding £83 million, with targeted cost savings of 20% and reduced cash burn. While revenue remains tied to licence activity, the order book includes £45 million of contracted revenue for 2026. Strategic focus remains on expanding licences, accelerating partner market entry, and maintaining technology leadership through its new single stack platform launch. A new partnership with Centrica strengthens demand generation in the UK, particularly across data centres and industrial power. With a projected 22 gigawatt market opportunity by 2030, Ceres is positioning for long term revenue growth, EBITDA expansion, and scalable royalty streams as commercialization accelerates.