Ceres Power confident despite wider losses

29th Sep 2010 12:19

Losses widened on lower revenues at Ceres Power in the year to June 30, but the fuel cell technology company is confident that it can benefit from the trend towards green technology.Pre-tax losses widened to £12.8m from £8.3m as revenues slipped to £786,000 from £952,000.'A Ceres Power CHP product will be one of the lowest cost ways to reduce the carbon footprint of homes,' said chairman Brian Count. 'We are focused on installing CHP products into consumers' homes across the country in partnership with British Gas and are confident that we can deliver sales in mid 2012 as a platform for a volume ramp-up thereafter.'CHP (Combined Heat and Power) is a method of capturing heat as electricity is generated. Yesterday Ceres' rival CHP boiler supplier Energetix also saw losses widen and complained that commercialisation of its products was taking longer than originally anticipated.