logo-loader

Ceres Power gains as firm receives top-up investment from Weichai Power

Last updated: 13:45 24 Sep 2018 BST, First published: 07:16 24 Sep 2018 BST

SteeCell
The Ceres Power SteelCell technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel

Ceres Power Holdings PLC (LON:CWR) confirms that 5.97mln shares have, as per the August 21 announcement, been allotted to Robert Bosch GmbH.

Bosch subscribed for the shares at 150.8p a pop, which means it has paid around £9mln for a 4.4% stake in the UK fuel cell technology company.

READ: Ceres Power Holdings unveils collaboration deal with Bosch

In early afternoon trading, Ceres Power shares were 2% higher at 200p

Ceres Power and Bosch announce strategic collaboration & equity investment - https://t.co/HGJ0Bix4zL pic.twitter.com/TyqnTbTj8p

Ceres Power (@CeresPower) August 21, 2018

As a result of the increase in the share capital of Ceres following the Bosch equity investment, Weichai Power has stumped up a further £1mln for 663,740 shares to maintain its holding at 10%.

 -- Adds share price --

Caledonia Mining tackles 2023 challenges with optimism for 2024 as it...

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth tells Proactive's Stephen Gunnion the company faced a challenging 2023, primarily due to poor production in the first half of the year at its core asset, the Blanket Mine in Zimbabwe, and an underperformance...

1 hour, 19 minutes ago