Ceres Power Holdings plc Directorate Change (5965J)

TIDMCWR

RNS Number : 5965J

Ceres Power Holdings plc

06 December 2018

6 December 2018

Ceres Power Holdings Plc

("Ceres Power", "the Company" or "the Group")

Appointment of Dr. Haoran Hu as Non-Executive Director

Ceres Power Holdings plc ("Ceres Power", the "Company" or the "Group") (AIM: CWR.L) announces the appointment of Dr. Haoran Hu as a Non-Executive Director with immediate effect.

Dr. Hu joins the Board following Ceres Power's strategic partnership with Weichai Power Co. ("Weichai"), announced in May 2018, when it was agreed that Weichai would have the right to nominate a non-executive director to the Board of Ceres Power, after the exercise of the warrant agreed at that time.

Dr. Hu is the Vice President and Chief Technology Officer of Weichai Power Co., one of China's largest diesel engine and vehicle powertrain system manufacturers. Prior to joining Weichai, Dr. Hu had been in engineering leadership positions at Eaton Corp, Caterpillar Inc., Detroit Diesel Corporation, and Jacobs Vehicle Systems. He has over 25 years' experience in the research and development of engines and powertrain systems.

Dr. Hu is a Fellow of SAE International, a Fellow of ASME, and a recipient of the 1999 SAE Arch T. Colwell merit award. He has 32 US patents and is a co-author of a SAE book "Advanced Hybrid Powertrains for Commercial Vehicles". Dr. Hu holds a Doctor of Science (ScD) in Mechanical Engineering from Massachusetts Institute of Technology (MIT), and an MBA degree from the Ohio State University.

Alan Aubrey, Chairman of Ceres Power Holdings plc, said:

"We are delighted to welcome Dr Hu to the Board. He brings a wealth of experience in the power and technology sectors with an impressive track record of commercialising technology which is invaluable at this stage of the Company's growth."

Additional Information

The following information is being disclosed pursuant to Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Dr. Haoran Hu, aged 62, is, or has during the last five years been, a director or partner of the following companies and partnerships:

 
 Current directorships/partnerships   Former directorships/partnerships 
                                       within last five years 
 SAE International 
  SAE International (Branch) 
  Weichai Power Co Ltd 
  Weichai America Corp. 
  Huran Systems LLC 
                                     ---------------------------------- 
 

There are no further disclosures required to be made in respect of Dr. Haoran Hu's appointment.

For further information, please contact:

 
 Ceres Power Holdings plc             Tel: [phone] 
  Phil Caldwell, CEO                   463 
  Richard Preston, CFO 
  Zeus Capital (Nominated Adviser      Tel: [phone] 
   and Broker)                         5000 
   Andrew Jones / Dom King 
  Berenberg (Joint Broker)             Tel: [phone] 
   Ben Wright / Mark Whitmore /        7800 
   Laure Fine 
  Powerscourt                          Tel: [phone] 
   Peter Ogden / Niall Walsh           1446 
 
 
 

About Ceres Power

Ceres Power (http://www.cerespower.com/) is a world leader in low cost, next generation fuel cell technology for use in distributed power products that reduce operating costs, lower CO2, SOx and NOx emissions, increase efficiency and improve energy security. The Ceres Power unique patented SteelCell(R) technology generates power from widely available fuels at high efficiency and is manufactured using standard processing equipment and conventional materials such as steel, meaning that it can be mass produced at an affordable price for domestic and business use. Ceres Power offers its partners the opportunity to develop power systems and products using its unique technology and know-how, combined with the opportunity to supply the SteelCell(R) in volume through manufacturing partners.

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December 06, 2018 02:05 ET (07:05 GMT)