Yet the challenges of implementing decarbonisation are underlined by increases in three core metrics. Carbon emissions (CO2e) rose from 21,950 tonnes in 2020 to 29,675 tonnes last year; energy consumption rose from 6,949.3MW to 7,699.7MW; and water use nearly trebled to 5,793 cbm.

Moreover, it acknowledged that as it grows over the next few years, its emissions “will inevitably increase” through the investment in extra manufacturing and testing capacity, despite plans to reduce carbon intensity.

CEO Phil Caldwell said, “We intend to make real and tangible progress by working with our supply chain to achieve interim goals that will expedite our route to net zero. We will continue to provide updates on our progress in 2023 and beyond.”

With Environmental, Social and Governance (ESG) considerations now a “priority” for the board, Ceres has outlined how it plans to enhance reporting in six key areas: Streamlined Energy and Carbon Reporting; Taskforce for Climate-Related Financial Disclosures; Sustainability Accounting Standards Board (SASB) reporting; ISO9001 certification; Materiality matrix, ranking 13 key issues; and establish a Science Based Target-led Initiative (SBTi) pathway.

This year Ceres began reporting on full Scope 3 emissions alongside Scopes 1 and 2 and it is now working through a full science-based carbon reduction pathway in line with SBTi guidance to achieve net zero emissions before 2050.

The company believes there are five of the 17 UN Sustainable Development Goals where it can really make the biggest impact – affordable and clean energy; industry, innovation and infrastructure; sustainable cities and communities; responsible production and consumption; and climate action.

Ceres has now signed agreements with leading global partners seeking to scale up to 100s of megawatts of annual SOFC power generation capability and it is now building partnerships to utilise SOEC technology to deliver high-efficiency, low-cost green hydrogen.

It aims to produce hydrogen at efficiencies around 20% greater than other technologies, in the range of mid-80s to 90% efficiency.

Ceres wants to have sustainability considerations embedded within its operations; from R&D, engagement with the supply chain, and supporting partners to scaling technology, through to ownership and end-of-life of products. Currently 96.8% of waste materials are recycled at its Horsham site and 77.6% at Redhill.

The International Energy Agency (IEA) estimates that the world will need 3,585GW of electrolyser capacity to meet the demand for green hydrogen in 2050, a huge increase from 1GW of installed capacity today.