Ceres Power surges on Centrica partnership and resilient cash position

Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) shares jumped over 14% after it revealed a new strategic partnership with British Gas owner Centrica PLC (LSE:CNA) and reported full-year results broadly in line with expectations. The hydrogen and fuel cell technology developer said the partnership will combine its solid oxide fuel cell technology – currently able to generate electricity from natural gas and designed to also use other fuels such as biogas and hydrogen in the future – with the British Gas owner's energy supply and trading platform, targeting businesses struggling to secure grid connections fast enough to meet growing power demands.