The boiler system will be marketed by Centrica’s subsidiary British Gas and is touted as being able to slash consumers’ energy bills by over 30% while emitting less pollution than conventional boilers.
With UK household gas and electricity bills witnessing an almost 20% rise in the past 18 months, Centrica believes this the ideal time to begin work on a low-cost alternative power and heating source.
The boiler uses combined heat and power technology to produce steam to both heat a house and generate electricity.
Although the Ceres fuel cell technology used in the project is primarily designed to use hydrogen as a power source, the boiler under development will be able to be hooked up to a domestic gas supply and use that as its fuel.
The boiler, with an off the shelf price tag of about ₤2500 ($A5875), is expected to take a year to develop and be available for domestic purchase within three years.
Ceres will use its recent raising of ₤25 million from private equity funds and its AIM listing last November to fund the development of the project, while Centrica will provide technical advice and commercial marketing skills.
“It will save consumers money,” said Ceres chairman Phillip Holbeche.
“It will also save the country a considerable amount of energy.”
