Ceres, a company specializing in solid oxide electrolyser cell (SOEC) technology, has recently announced a significant global long-term licensing agreement with an original equipment manufacturer (OEM) based in the Asia Pacific region. This partnership aims to manufacture Ceres' proprietary SOEC technology for the growing green hydrogen sector. The agreement includes provisions for licensing fees, engineering services, and hardware sales over several years, mirroring previous successful OEM agreements of Ceres. Additionally, royalty payments are expected based on the future commercial production and sale of SOEC equipment by the partner. The CEO of Ceres, Phil Caldwell, expressed enthusiasm about this new partnership, highlighting the progress made in the advancement of their highly efficient SOEC electrolyser technology. The company sees this collaboration as a strategic move to work with partners equipped with manufacturing capabilities and resources to bring clean energy technology to a global scale. Ceres aims to establish its SOEC technology as an industry standard and contribute to the global energy transition by promoting decarbonization. Further details of the agreement are expected to be disclosed in early August, respecting the Partner's request for confidentiality. Ceres's focus on establishing partnerships in regions with strong manufacturing capabilities aligns with its vision to accelerate the adoption of hydrogen for industrial decarbonization. The company remains optimistic about the future prospects of their technology and its role in driving the energy transition towards cleaner alternatives.