Ceres Power witnessed a notable surge in its shares following the announcement of an upgraded revenue guidance and a significant global licensing agreement for its solid oxide electrolyser cell (SOEC) technology. The company raised its full-year revenue target to £50-60 million, a significant increase from the previous year. This move was backed by a new partnership with a Global OEM that is expected to generate substantial revenues for Ceres through various means, including license fees, engineering services, and hardware sales over several years. The revenue structure also includes royalty payments on future commercial production and sales of SOEC equipment by the new partner, aligning with Ceres' successful business model. In addition to the financial growth, Ceres Power is experiencing a positive trend in profitability, with gross margins increasing to 75-80%. The company's cash position remains strong, with around £126 million in cash and short-term investments. CEO Phil Caldwell expressed excitement about the progress and adoption of the SOEC electrolyser technology by leading global companies, emphasizing the importance of partnerships and clean energy technology in achieving global decarbonization goals.