Statement re: Bosch holding increase

RNS Number : 5976A

Ceres Power Holdings plc

22 January 2020

 

22/01/2020

Ceres Power Holdings plc

Statement re: Bosch holding increase

Horsham, UK: Following the announcement made at 07.00 on 22 January, Ceres Power Holdings plc (AIM: CWR, "Ceres", "the Company"), a world-leading developer of low cost, next generation solid oxide fuel cell (SOFC) technology, is pleased to confirm that Robert Bosch GmbH ("Bosch") has increased its equity shareholding in Ceres from c.4% to c.18% through a combination of new and existing Ceres shares.

The investment by Bosch in the new Ceres shares has raised gross proceeds of £38.0m for Ceres which will provide sufficient capital for the Company to both consolidate its position as a leader in fuel cell systems and also expand its technology into complementary areas including potential solid oxide electrolysis applications.

A call for investors and analysts will take place at 11.30 this morning. A presentation outlining the transaction is available for download from https://www.cerespower.com/media/1766/bosch-increases-its-stake-in-ceres.pdf.

Please register for the call via https://www.speakservecloud.com/register-for-call/12778c3d-7cbb-47f1-a3ba-d32a2111d5a1, after which you will be sent a unique participation pin.  To then access the call please dial 0800 408 7373, enter the room number 053573 and the participation pin.

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For further information please contact:

Ceres Power Holdings plc Elizabeth Skerritt, Director of Communications	Tel: [phone]
Investec Bank plc (Nominated Adviser and Broker to Ceres) Jeremy Ellis / Patrick Robb / Ben Griffiths	Tel: [phone]
Powerscourt Peter Ogden / James White / Gerard Lyons	Tel: [phone] [e-mail]

About Ceres

Ceres is a world-leading developer of low cost, next generation solid oxide fuel cell (SOFC) technology. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in South Korea, to develop systems and products that address climate change and air quality challenges for transportation, industry, data centres and everyday living.  Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.

 

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