By Ben McPoland
Publication Date: 2026-04-29 12:19:00
Ceres Power (LSE:CWR) is leading the FTSE 250 stock performance charts in 2026 and it’s not even close. Year to date, it’s up 176%!
That’s not too shabby considering we’re just four months into the year. And it easily beats the performance of some of the most popular stocks of the last year among UK investors, including Rolls-Royce (-5.2%), Nvidia (+13.3%), and BP (+32.3%).
Even more astonishing, however, is Ceres Power’s one-year performance, which now stands at 933% after the stock jumped 19% today (29 April).
What on earth has sent it stratospheric? And given that it’s still down 55% over a five-year period, might it be worth considering buying now? Let’s take a closer look.
What does it do?
Ceres is a clean energy technology developer at the forefront of solid oxide fuel cell and hydrogen technologies. However, rather than building products, the company licences its IP to big industrial partners, including Doosan (South Korea), Weichai Power (China), and Delta Electronics (Taiwan).
In this sense then, Ceres is a bit like the Arm Holdings of the energy world. When successful, such asset-light licensing models can be wildly profitable and therefore very valuable. The company earned its first royalties last year.
When companies license our technology, they’re effectively bringing Ceres on board as their in-house R&D team. What they’re truly investing in is the ability to stay at the forefront of…
