28 Sep 2016
- Placing Size:
- Post Deal Mkt Cap: £100m
Zeus Capital acts as Nominated Adviser and Broker to Ceres Power Holdings plc on its £20m fundraise
Zeus Capital has acted as Nominated Adviser and Broker to Ceres Power on its £20m institutional fundraise.
Ceres Power is a world leader in low cost, next generation fuel cell technology for use in distributed power products that have the potential to bring cheaper and cleaner energy to homes and businesses. The Group is working with some of the world’s leading companies in order to create mass market fuel cell products for multiple markets worldwide.
The Company is targeting securing five global engineering companies as customers in joint development agreements by the end of 2017 in order to achieve traction in multiple markets in the major regions across the world, with the intent to be in two commercial launch programmes by the end of 2018.
Phil Caldwell Chief Executive Officer at Ceres Power commented:
"The funding will put us in a strong position at a key stage of the company’s growth as we develop our commercial engagements with some of the world’s leading companies. This funding combined with recent technology gains enables the development of higher power applications alongside our residential offering, opening up significant new market opportunities in the commercial and transportation sectors"
Hugh Kingsmill Moore - Head of Sustainable Technology & Power Sales, Zeus Capital
“We were delighted to help secure £20m of new capital for Ceres Power, attracting a number of new names to the shareholder register alongside strong support from existing holders. This successful funding is a clear endorsement of the technical & commercial strides that the Ceres team has made over the last 24 months. They are now in a very strong position to grasp the opportunities that lie ahead.”