London, April 27, 2026, 18:02 BST
Ceres Power Holdings jumped another 10% to 555.50 pence by late Monday morning in London, enough to lead the FTSE 250 risers. Over the last month, shares have surged 81%, according to Alliance News.
That’s become crucial, as investors are once again shelling out for firms linked to rapid, on-site power solutions for data centres—a segment feeling the pinch from sluggish grid hookups and surging AI-related energy demand. Ceres broke into the top 10 most-traded stocks Monday morning on interactive investor’s platform. Buy orders accounted for 49% of all trades in the name.
Ceres just rolled out Endura, its new solid oxide platform targeting both power and hydrogen, earlier this month. Unlike traditional combustion, a solid oxide fuel cell generates electricity via chemical reaction. According to Ceres, this system is built for data centres and other large-scale power users who can’t afford to sit around waiting for grid improvements.
Ceres says Endura installs and gets up and running within months, operating on natural gas for now but able to shift to hydrogen and other lower-carbon fuels down the line. “Ready for scale and built to last,” Chief Product Officer Nick Lawrence called the platform. Home
Ceres is pitching data-centre buyers directly. On April 21, the company put out a video showing Endura stacks configured as 100-kilowatt modules, scaling up to 500-kilowatt systems and then two-megawatt blocks—enough for a sample 108-megawatt data-centre setup. The pitch: “five nines” availability, or about 99.999% uptime, as the industry calls it. Home
Ceres has lined up a commercial channel with Centrica. Back in March, the pair announced plans to collaborate on solid oxide fuel-cell systems, targeting multi-gigawatt demand from UK and European commercial and industrial clients—think data centres, AI compute hubs. “Businesses need power faster than the electricity grids can deliver,” Centrica CEO Chris O’Shea said at the time. Ceres boss Phil Caldwell called their technology “modular and can be deployed faster.” Reuters
Ceres isn’t looking to construct every system on its own. The company uses a licensing strategy—its roster of partners features Doosan, Delta, Denso, Shell, Weichai and Thermax—and it’s targeting royalty income as those firms start building and selling products powered by its tech.
It’s not much to go on yet. Ceres posted 2025 revenue of 32.6 million pounds, a 37% drop, with cash and short-term investments coming in at 83.3 million pounds. The company flagged its first-ever royalty income, and noted about 45 million pounds in contracted 2026 group revenue even before booking new business. Caldwell pointed to scaled production as the trigger for those initial royalties: “unlocked Ceres’ first royalties,” he said.
Competition in this space is picking up. On April 13, Bloom Energy—a U.S. solid oxide fuel-cell company—announced Oracle is looking to buy as much as 2.8 gigawatts of its fuel-cell systems for AI and cloud builds. The first tranche, 1.2 gigawatts, is already under contract and rolling out. For investors, that’s a concrete, listed yardstick showing how surging demand from data centres is feeding into bookings.
The worry is the stock could jump past what Ceres can realistically deliver. In its own filing, the company pointed out that its forecasts accounted for possible delays in signing up new licensees and potential hits to future revenue. For 2025, Ceres posted an adjusted EBITDA loss—loss before interest, tax, depreciation, and amortisation, with some items excluded—of 32.5 million pounds.
Investors are buying into the narrative for now. But the tougher hurdles are still ahead—think new license wins, getting manufacturing off the ground through partners, and seeing if data-center demand actually delivers steady royalty revenue, instead of just sparking another brief surge in this unpredictable clean-energy stock.
