CHP developer in financial difficulty after funding failure

Fuel cell developer Ceres Power may have to wind down or sell off the business, which would effectively end its latest CHP efficient boiler project.

Shares in the company, based in West Sussex, England, dived 76% after it told the London stock exchange the news.

Financials
Ceres has been hit by a series of delays on the launch of its combined heat and power (CHP) energy efficient boiler as a result of technical issues with a product designed for homes in Britain and further afield.

The company has been in talks with potential lenders but in a statement it said "despite extensive efforts it has been unsuccessful in securing sufficient funding for the business going forward".

For more combined heat and power news

     

 

Share
     


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...