Ceres Power Holdings plc Appointment of Non-Executive Directors (3000Q)

TIDMCWR

RNS Number : 3000Q

Ceres Power Holdings plc

18 June 2020

Ceres Power Holdings plc

Appointment of Non-Executive Directors

   --    Mr. Uwe Glock of Bosch Thermotechnik GmbH joins the Board 
   --    Mr. Qinggui Hao replaces Dr. Haoran Hu as the Weichai Board representative 

Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company") (AIM: CWR.L), a global leader in fuel cell technology, announces the appointment of Mr. Uwe Glock and Mr. Qinggui Hao as Non-Executive Directors with immediate effect.

Mr. Glock is Chairman of the Board of Management of Bosch Thermotechnik GmbH and joins the Board of Ceres subsequent to the relationship agreement signed between Ceres and Robert Bosch GmbH ("Bosch") in January 2020. Under the agreement, Bosch gained the right to nominate a Non-Executive Director in line with its increased equity shareholding of c.18% of the Company.

Mr. Glock brings over 35 years of experience from across Bosch Mobility Solutions and Energy and Building Technology - Worcester Bosch in the UK is part of the Bosch Thermotechnik division. His appointment increases Ceres' exposure to the Bosch organisation and brings significant value through Mr. Glock's leading role in the wider German and European energy and building industry. He is currently President of the German Heating Association (BDH) and Vice President of the German Building Technology Association (VdZ).

Mr. Qinggui Hao is the Investment Director of Shandong Heavy Industry Group Co., Ltd. He replaces Dr. Haoran Hu, who has served on the Ceres Board as the Weichai-nominated Non-Executive Director since December 2018. Mr. Hao joined Weichai in 2004 and held various positions across the business including Linde Hydraulics GmbH & K.G., as Deputy General Manager of Weichai Power (Luxembourg) Holding S.àr.l., and as Secretary of the Board and Director of the capital operation department of Weichai Power Co., Ltd.

Warren Finegold, Chairman of Ceres Power Holdings plc, commented: "On behalf of the Board I would like to thank Dr. Hu for his service over the past 18 months. He has been an important advocate of the Ceres technology and his contribution has laid the foundation for our successful partnership with Weichai.

"I am delighted to welcome Mr. Glock and Mr. Hao to the Board of Ceres. Both bring tremendous experience, from their long and distinguished careers with Bosch and Weichai respectively, across key sectors and markets globally. I believe their participation in the Board will only strengthen our partnerships and guide the potential for Ceres' technologies in the markets in which they operate."

Ends

Further regulatory disclosures

Mr. Uwe Glock currently holds directorships in the following Bosch internal companies and joint ventures:

   -      Bosch Thermotechnology Ltd. Worcester UK 
   -      Bosch Termotecnologia SA, Aveiro Portugal 
   -      FHP Florida Heatpump Fort Lauderdale in USA (Joint Venture Bosch I Carrier) 

Mr. Qinggui Hao is, or has during the last five years been, a director or partner of the following companies and partnerships:

   -      Suzhou Foresight Energy Technology Co Ltd 
   -      Weichai (Weifang) Investment Company Co Ltd 
   -      Shandong Fawei Vehicle Manufacturing Co Ltd 
   -      Weichai Power Hong Kong International Development Company Ltd 

For further information visit www.ceres.tech or contact:

 
Ceres Power Holdings plc              Tel: [phone] 
 Elizabeth Skerritt                    283 
 
  Investec Bank PLC (NOMAD & Joint      Tel: [phone] 
  Broker) 
  Jeremy Ellis / Patrick Robb 
 
  Berenberg (Joint Broker)              Tel: [phone] 
  Ben Wright / Mark Whitmore 
 
  Powerscourt                           Tel: [phone] 
  Peter Ogden / James White 
 
 
 

About Ceres Power

Ceres is a world-leading developer of next generation solid oxide fuel cell (SOFC) and electrochemical technology. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest engineering and technology companies, such as Weichai in China, Bosch in Germany, Miura in Japan, and Doosan in South Korea, to develop systems and products that address climate change and air quality challenges for transportation, industry, data centres and everyday living. Ceres is listed on the AIM market of the London Stock Exchange ("LSE") (AIM: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy.

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June 18, 2020 02:00 ET (06:00 GMT)