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Bosch Increases its Stake in UK Fuel Cell Maker Ceres

By January 22, 2020 < 1   min read  (111 words)

January 22, 2020 |

Ceres Power and Bosch

Horsham, UKFollowing 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.

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