Ceres Power Holdings PLC

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Market Cap:
£1.41 billion
823.94 GBX
52 weeks high
52 weeks low


Ceres aims to play a central role in the global transition to clean, affordable energy to help tackle climate change and air pollution.

Ceres’ growth strategy is driven by licensing our technology to global OEM partners, and generating royalties as those partners achieve full-scale commercialisation. We therefore benefit from an asset-light business model with a favourable margin. Ceres is absolutely focused on the needs and expectation of our licensees, for whom operational excellence, added value, and robust delivery are key. Alongside this, we are excited by the challenges of scaling up, growing our pilot manufacturing in the UK, and refining and adapting our technology for further and future applications.



Our world-leading, fuel-flexible SteelCell® can generate power from conventional fuels like natural gas and from sustainable fuels like biogas, ethanol or hydrogen and it does at very high efficiency.

Made from mass-market and widely available materials, the SteelCell® is inherently cost-effective, robust and scalable. It is an ideal technology to tackle air pollution and climate change as it significantly lowers carbon emissions and pollutants, lowers running costs and can enable renewables.

Why Is It Unique?

It’s the unique chemistry of our people and our technology that differentiates the SteelCell®. With sixteen years of intelligent investment in research and development, it is no coincidence that Ceres’ platform is attracting the attention of the biggest and brightest minds in the energy sector.

With the potential to be the most cost-effective and robust fuel cell technology, the SteelCell® offers exceptional efficiency and unrivalled reliability. As a Solid Oxide Fuel Cell (SOFC), the SteelCell® can use conventional fuels like mains natural gas from the existing infrastructure and can make an immediate improvement to energy costs, CO2 emissions and energy security for businesses, homes and vehicles.

United Kingdom, Japan and Korea.

Warren Finegold - Chairman

Warren joined the Board as an independent Non-executive Director in March 2020 and succeeded Alan Aubrey as Chairman in June 2020. He was a member of the Vodafone Group Executive Committee for 10 years, serving principally as Group Strategy and Business Development Director. Previously, he was a Managing Director of UBS Investment Bank, where he held several senior positions, most recently as Head of the Technology Team in Europe. Warren is a Senior Independent Director and Chair of Nominations Committee at Avast plc. He has a M.A. in Philosophy, Politics and Economics from Oxford University and a Masters degree in Business Administration from London Business School.

Steve Callaghan - Senior Independent Director

Steve joined the Company in December 2012 to lead the turnaround and strategy reset phase. He was appointed Senior Independent Director in March 2014. He is also Chairman of Navtech Radar Ltd and CEO of Northgate Public Services. Prior to joining Ceres, Steve held a number of senior executive and CEO positions in both public and private businesses over a period of 20 years. He has a degree in Electrical and Electronic Engineering from Cranfield University

Uwe Glock - Non-Executive Director

Uwe joined Ceres in June 2020 following the relationship agreement signed with Robert Bosch GmbH (“Bosch”) and is the Bosch-nominated Non-Executive Director.  He is the Chairman of the Board of Management of Bosch Thermotechnik GmbH, the commercial and residential building equipment and systems division that encompasses Worcester Bosch in the UK. Uwe brings 35 years of experience from across Bosch and holds a leading position in the wider German and European energy and building industry. He is currently President of the German Heating Association (BDH) and Vice President of the German Building Technology Association (VdZ).  Uwe completed his Study of Business Administration at the Business Management Academy Stuttgart.

Qinggui Hao - Non-Executive Director

Qinggui joined Ceres in June 2020 as part of the strategic collaboration agreement with Weichai Power and is the Weichai-nominated Non-Executive Director. He is the Investment Director of Shandong Heavy Industry Group Co., Ltd., the multinational heavy machinery and automotive manufacturing company and parent of Weichai Power.  Qinggui joined Weichai in 2004 and held various positions across the business including Linde Hydraulics GmbH & K.G., as Deputy General Manager of Weichai Power (Luxembourg) Holding S.àr.l., and as Secretary of the Board and Director of the capital operation department of Weichai Power Co., Ltd. He is an assistant economist and holds dual bachelor degrees in law and economics.

Caroline Hargrove - Non-Executive Director

Caroline is CTO of Babylon Health and was a founding member and CTO of McLaren Applied Technologies which was set up to exploit McLaren technology and expertise to new markets. She has worked in a range of sectors from motorsports to health, elite sports, manufacturing and energy.

She started her career as a lecturer in Engineering in Cambridge, followed by various roles in McLaren F1, mainly focused on the development of simulations and the first F1 simulator.

Caroline is also a Fellow of the Royal Academy of Engineering and a Visiting Professor at Oxford and holds a PhD in Applied Mechanics from the University of Cambridge.

Aidan Hughes - Non-Executive Director

Aidan joined Ceres in February 2015 as Non-Executive Director and Chairman of the Audit Committee. He has over 20 years of senior finance experience in a variety of listed companies, including as Finance Director at the Sage Group Plc from 1993 to 2000 and as a director of Communisis Plc from 2001 to 2004. Since 2004 he has been Non-Executive Director of Dialog Semiconductors plc, where during his tenure Aidan chaired its Audit Committee. He is also an investor and advisor to a number of international private technology companies. Aidan is a Fellow of the Institute of Chartered Accountants in England and Wales.

Phil Caldwell - Chief Executive Officer

Phil joined the Company in September 2013 as CEO. He was previously Corporate Development Director at Intelligent Energy Limited, a company specialising in PEM fuel cell systems, where he led commercial and strategic business development activities, including securing OEM partners, executing licence deals and joint ventures. Prior to joining Intelligent Energy, Phil was responsible for business development for the Electrochemical Technology Business within ICI. He has a Master’s degree in Chemical Engineering from Imperial College, holds an MBA from IESE Barcelona and is a Sainsbury Management Fellow.

Richard Preston - Chief Financial Officer

Richard was appointed Chief Financial Officer at Ceres in 2013, prior to which he had been Financial Controller since 2008, where he also had programme manager roles across the business.

Previously he held a number of senior positions in business transformation and project finance at Cable & Wireless. He is a Chartered Accountant and Corporate Treasurer and holds a Master’s in Engineering and Management Studies from the University of Cambridge.

UK Headquarters

Viking House
Foundry Lane
West Sussex
RH13 5PX

UK Manufacturing

3 Gatton Park Business Centre
Wells Place

Japanese Office

19F Hilton Plaza West Office Tower
2-2-2 Umeda Kita-Ku

Korean Office

Seoul Finance Center, 4F
136 Sejeong-daero
Korea (100-768)

Get in touch : +44 (0)1403273463

Nominated advisor and broker (NOMAD)

Investec Bank plc
30 Gresham Street


Joh. Berenberg, Gossler & Co. KG
60 Threadneedle Street

Nominated advisor and broker (NOMAD)

Investec Bank plc
30 Gresham Street

Last updated on 17 July 2020.

AIM securities in issue: 170,815,442.
The Directors have been notified that 37.8% of the shares in issue are not in public hands.

Nominated advisor and broker (NOMAD)

Investec Bank plc
30 Gresham Street


Joh. Berenberg, Gossler & Co. KG
60 Threadneedle Street


DAC Beachcroft LLP
Portwall Place
Portwall Lane

Registered Auditors

31 Chertsey Street


National Westminster Bank PLC
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West Sussex
RH10 1DQ


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