Ceres Power extends six-month gain to 500%
This clean energy company has caught the eye of City writer Graeme Evans, with the share price rocketing to levels not seen since summer 2023. He also looks at Trainline.
5th November 2025 14:15
by Graeme Evans from interactive investor
Internal view of solid oxide 1MW-scale electrolyser. Credit: Ceres Power Ltd.
The refuelling of Ceres Power Holdings (LSE:CWR) shares gathered momentum today as the clean energy technology company unveiled a deal that showcased its opportunities around data-centre growth.
The FTSE 250-listed company rose as far as 390p, the highest level in more than two years, after it extended its commercial relationship with China-based power systems firm Weichai Power Co Ltd Class H (SEHK:2338).
- Invest with ii: Top UK Shares | Share Tips & Ideas | Open a Trading Account
The agreement will see Weichai establish a manufacturing facility to produce cells and stacks for the stationary power markets, supported by key components supplied from Ceres.
The systems will target AI data centres, commercial buildings and industrial applications.
The move expands Ceres’ manufacturing partner portfolio to four, which includes existing deals with Doosan, Delta and Denso.
The company’s solid oxide platform technology supports greater electrification of energy systems and produces green hydrogen at high efficiencies as a way to decarbonise emissions-intensive industries.
Panmure Liberum said today’s announcement added to significant news flow from across the solid oxide fuel cell market, which has two key players in Bloom Energy Corp Class A (NYSE:BE) and Ceres.
The broker believes that risks are skewed to the upside for Ceres, reflecting growing confidence in the suitability of Ceres’ fuel cell technology to meet the rapidly escalating power demands of the global data centre roll-out.
The re-rating for shares from a low of 50p during April’s market turmoil has also been aided by the disposal of Bosch’s 17% stake, removing a potential overhang for the stock.
- Full brunt of M&S cyber-attack becomes clear
- Daily Trading Flash: 10 most-traded shares 5 November 2025
- Stockwatch: how much notice should we take of Warren Buffett?
Ceres, which returned to the FTSE 250 index at the end of last month, now trades with a valuation of 8.3 times Investec’s forecast sales. This compares with Bloom on about 13 times.
Peel Hunt added recently: “The rapid rise of AI-driven data centres has catalysed demand for new power solutions that offer rapid time-to-power deployment, 24/7 reliability and high efficiency.
“With wait times for grid connections or delivery of power units such as gas turbines now exceeding five years, the data-centre industry is seeking alternative power systems, increasingly solid oxide fuel cells.”
Among the other big movers in the FTSE 250, Trainline (LSE:TRN) shares rallied by 12.6p to 267p after the ticketing app improved its full-year earnings guidance.
The impact of economic and tariffs uncertainty on European growth and concerns over UK government plans for a single public sector retail website and app have weighed on the shares in recent months.
- Trading Strategies: why I think this mining stock is undervalued
- Sign up to our free newsletter for investment ideas, latest news and award-winning analysis
- eyeQ: this stock’s a prime candidate for profit taking
A reduction in UK commission payments from April meant revenues rose 2% to £235 million in today’s half-year results, whereas group ticket sales lifted 8% to £3.2 billion.
Cost savings helped underlying earnings to rise by 14% to £93 million, with growth across the full year now expected to be between 10% and 13%.
Panmure Liberum lifted its price target to 490p following the results. It said: “The regulatory question has not been conclusively settled this morning; but indications are positive enough for Trainline that we maintain our existing valuation approach.”
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.