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Ceres Power Holdings

  • BY: Andrew Hore |
  • POSTED: 02/10/2012 |

Fuel cell-based micro-CHP boiler technology developer Ceres Power Holdings is still trying to raise additional funding.

Ceres originally indicated that it would complete its funding by the end of September and it is attempting to raise an initial tranche of cash for working capital.

This news has knocked 1.88p off the share price leaving it at 8.75p. Ceres is valued at £7.54m so a fundraising is likely to require a large share issue.

If Ceres canít raise sufficient cash it may not be able to continue trading.

There is still some way to go to prove the companyís technology so Ceres will need significant amounts of cash to cover working capital and development spending. The next field trials will be in 2014 and the product launch is expected in 2016.

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