Using design to come up with a vision for its technology and sell that vision to investors and partners has put Ceres Power in the spotlight.
Background
Ceres Power was spun out from Imperial College in 2001 to commercialise fuel cell technology developed within the university. The cells generate heat and electricity through a reaction between oxygen and hydrogen. They are much more efficient than other ways of producing energy, such as internal combustion engines, and their carbon emissions are much lower.
Ceres Power joined Designing Demand soon after launching. The company floated on AIM in late 2004 and has raised more than £25m of investment. Its market capitalisation is £144m. It is now moving towards the launch of products including a Combined Heat and Power (CHP) boiler that promises to revolutionise the domestic energy market by reducing energy bills by up to 40 per cent and also cutting carbon emissions.
Problem
Like all technology start-ups, Ceres Power needed funding to sustain research and product development. That meant convincing investors that the technology was worth backing. And that called for clear and persuasive communication of its benefits and commercial potential, as well as a strong brand.
The company’s belief in the value of design led it to join Designing Demand. Ceres worked with Design Associate Chris Thompson, of innovation consultancy Viadynamics, not just on communications materials but also strategy. Thompson recalls: ‘We needed to explore the applications the technology could be used for, how we could get it to market and how we could communicate its value to potential partners and investors.’
Ceres Commercial Director Bob Flint adds: ‘It was absolutely vital that we developed a vision for what the technology could do and that we articulated it effectively to others.’
Response
Early work focused on creating scenarios around additional routes to market beyond the initial concentration on domestic heat and power. The aim was to make the company more attractive to investors by spreading risk. Thompson says: ‘The more potential channels to market there were, the greater the opportunities for Ceres to succeed.’
The result was a new three-way focus. As well as boilers providing domestic heating, hot water
and electricity, Ceres would now explore off-grid units.
These supply power for homes and businesses lacking access to reliable grid power or act as back-up for vital services from hospitals to temporary traffic lights. In both cases fuel cells could do the work of diesel generators, with substantial efficiency and environmental benefits. The third application would be support for automotive electrical systems such as lorry refrigeration units or air conditioning in cars. Here, auxiliary fuel cell units supply power even when the engine is switched off, again reducing fuel costs and cutting emissions.
Tags: ceres power, desogning demand, innovate
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