Board Changes

RNS Number : 7790B

Ceres Power Holdings plc

25 September 2018

 

Ceres Power Holdings plc

("Ceres Power" or the "Company")

Board Changes

Ceres Power Holdings plc, a world leading developer of low cost, next generation fuel cell technology, is pleased to announce the appointment of Ms Caroline Hargrove as a Non-Executive Director of the Company effective from the 1 October 2018.

Caroline replaces Mike Lloyd who retired from the Board in July 2018.  She has tremendous experience commercialising new technologies across a number of different sectors at McLaren Applied Technologies, where she is currently acting Chief Technology Officer.  Caroline is a Fellow of the Royal Academy of Engineering, Fellow of the IMechE and a Visiting Professor at the University of Oxford.

The Company also announces that as part of the Company's continued growth and focus on the development of both its plc board and Executive Boards, Mark Selby, Chief Technology Officer, will step off the plc Board from 1 October 2018.  Mark remains a key person in the Executive Board at Ceres Power where he will continue to lead the development and delivery of the SteelCell®. 

Alan Aubrey, Chairman of Ceres Power, said: "We are delighted to have Caroline join the Ceres Board and welcome her experience in growing technology businesses.  The Board also thanks Mark for his significant contribution to the plc board over the past four years.  These changes to the Board align the Company to continue to deliver on its strategic objectives."

Further information:

In accordance with Schedule Two (g) and Rule 17 of the AIM Rules for Companies, the following information in relation to the appointment of Ms Hargrove is disclosed:

Caroline Hargrove, nee Hogue, aged 50, is currently a trustee of the Saturday Trust Club. 

Other than the information provided above, there is no further information to be disclosed under Schedule Two (g) and Rule 17 of the AIM Rules for Companies.

For further information, please contact:

Ceres Power Holdings plc Richard Preston, CFO		Tel: [phone]
Zeus Capital (Nominated Adviser and Broker) Giles Balleny / Andrew Jones / Dom King		Tel: [phone]
Berenberg (Joint Broker) Ben Wright / Mark Whitmore / Laure Fine		Tel: [phone]
Powerscourt Peter Ogden / Niall Walsh		Tel: [phone]

Notes to Editor:

About Ceres Power

Ceres Power (http://www.cerespower.com/) is a world leader in low cost, next generation fuel cell technology for use in distributed power products that reduce operating costs, lower CO2, SOx and NOx emissions, increase efficiency and improve energy security. The Ceres Power unique patented SteelCell® technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use. Ceres Power offers its partners the opportunity to develop power systems and products using its unique technology and know-how, combined with the opportunity to supply the SteelCell® in volume through manufacturing partners.

 

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