Ceres Announces Delay in Chinese Fuel Cell JV Until 2023
Horsham, UK: The Directors of Ceres Power Holdings plc (“Ceres”, the “Company”) (AIM: CWR.L), were informed last night that the negotiations will not conclude this year and approvals for the joint venture (JV) agreements with Robert Bosch GmbH and Weichai Power have been postponed until 2023.
All parties remain committed to the deal, the structure of which has been agreed. There are several commercial items remaining which require more time to be finalised between the partners. Ceres will update the market further on progress as appropriate.
Accordingly, this will delay Ceres’ intention to seek a Premium Listing on the Main Market of the London Stock Exchange.