Ceres Power

Ceres Power (AIM:CWR, http://www.cerespower.com) is a developer of intermediate temperature solid oxide fuel cell technology. On 12th March the company announced its intention of raising  £9.7 million net through a placing to raise £8.7m and open offer to raise £1m, at 8 pence per share.
The proceeds of the fundraise are intended provide sufficient capital to take Ceres through the next stage of OEM engagements. Following the deployment of these funds, the Ceres core cell and FCM technology platform will be proven to be suitable for product development programmes with several OEMs in multiple geographies.
IP Group will invest £2 million in this round, and will thereafter hold 24.8% of Ceres’ enlarged issued share capital. Other investors in the round include existing shareholders ORA (Guernsey) Limited and Sarasin & Partners LLP, and new investor Henderson Global Investors Limited.



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July 30, 2013 · 8:08 pm

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