REG - Ceres Power Holdings - Timing of China JV agreements delayed

Ceres Power HoldingsAnnouncement

17/11/2022 07:00

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RNS Number : 6947G  Ceres Power Holdings plc  17 November 2022

Timing 17 November 2022

 

Ceres Power Holdings plc

 

TIMING OF CHINA JV AGREEMENTS DELAYED UNTIL 2023

 

Horsham, UK:  The Directors of Ceres Power Holdings plc ("Ceres", the
"Company") (AIM: CWR.L), were informed last night that the negotiations will
not conclude this year and approvals for the joint venture (JV) agreements
with Robert Bosch GmbH and Weichai Power have been postponed until 2023.

All parties remain committed to the deal, the structure of which has been
agreed. There are several commercial items remaining which require more time
to be finalised between the partners. Ceres will update the market further on
progress as appropriate.

Accordingly, this will delay Ceres' intention to seek a Premium Listing on the
Main Market of the London Stock Exchange.

 

Ends

 

For further information visit www.ceres.tech (http://www.ceres.tech/)  or
contact:

 

 Investec Bank PLC (NOMAD & Joint Broker)

 James Rudd /Patrick Robb /Ben Griffiths         Tel: +44 (0)207 597 5970

 Berenberg (Joint Broker)

 Ben Wright / Mark Whitmore                      Tel: +44 (0)203 207 7800

 FTI Consulting (Financial PR)                   Tel: +44 (0)203 727 1000

 Dwight Burden                                   Email: ceres_power@fticonsulting.com (mailto:Ceres_power@fticonsulting.com)

 Ceres Power Holdings plc                        Tel: +44(0)1403 273 463

 Elizabeth Skerritt

 

About Ceres

 

Ceres is a leading developer of clean energy technology; fuel cells for power
generation and electrolysers for green hydrogen. Its licensing model has seen
it establish partnerships with some of the world's most progressive companies,
such as Bosch, Doosan, Shell and Weichai to develop clean energy systems and
products at the scale and pace needed to address climate change for power
generation, transportation, industry, 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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