Ceres Power plc today celebrates its move from AIM to the Premium Segment of the London Stock Exchange’s Main Market, reflecting the scale, maturity, and long-term growth ambitions of the Group.
UK-based Ceres Power is a leading hydrogen technology company, collaborating with world-leading companies such as Bosch, Doosan and Weichai to deliver clean energy technology at pace and scale. Its technological innovation and success are underpinned by unique IP, more than 100 patent families and a dynamic and innovative team that has grown to over 600 people, many of whom are experts in the field of energy transition.
As an established business with a high margin, licensing business model, Ceres has a track record for high growth, strong corporate governance and ambitions for further expansion; the Board believes London’s Main Market is the appropriate listing venue given the Group’s scale, global interest, and heritage. Given its impact on global environment objectives, Ceres also carries the distinguished London Stock Exchange ‘Green Economy Mark’.
It is expected that the move to the Main Market, where the ordinary shares of Ceres will continue to trade under the stock ticker CWR.L, will enhance Ceres’ corporate reputation and recognition, and introduce the Group to a wider pool of international institutional shareholders and index tracker funds.
Ceres will not seek to raise funds in connection with the admission.
Phil Caldwell, Chief Executive Officer of Ceres Power, commented:
“Ceres has demonstrated a track record for technological excellence, innovation and strong growth, enabling the world’s most progressive companies to deliver clean energy solutions at scale and pace.
I believe it is important for the UK economy to see more tech and green tech businesses like Ceres listed in London, creating value for the UK and the London market. Ceres is proud to be a leading example of a UK-based technology success story, driving the global effort to tackle climate change and achieve net zero.
We look forward to our future as a member of the Premium Segment of the Main Market and this exciting new phase of our journey.”
Advisers to Ceres Power are:
- Berenberg (Financial Adviser, Sponsor to Ceres)
- Investec (NOMAD and Joint Broker)
- BDO LLP (Auditors)
- FTI Consulting (Public Relations Adviser)
- RPC LLP, Pinsent Masons (Legal Advisers)
- Computershare Investor Services (Registrar)
Read the most up to date Fuel Cell and Hydrogen Industry news at FuelCellsWorks
