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Ceres Power in Negotiations with China Based Weichai Power on Additional Investment

By December 4, 2018 < 1   min read  (104 words)

December 4, 2018 |

Weichai Power 2B Ceres Power 8

Ceres Power recently put out this statement.

Ceres Power notes recent media commentary over a potential further equity investment by Weichai Power (“Weichai”) to acquire an additional 10% stake in the business, taking its total holding to 20% and the creation of a manufacturing JV.  This follows the announcement of 16 May 2018 in which Ceres outlined the terms of a strategic collaboration between Ceres and Weichai which included both a Joint Development Agreement (JDA), technology transfer and equity investment and the right to nominate a non-executive director to the Board. 

Ceres confirms discussions with Weichai are on-going and a further statement will be made in due course.

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