A director at Ceres Power Holdings bought 33,166 shares at 60p and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
24 March 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Cleantech & Energy transition | Welcome to the age of hydrogen ! Given the urgent nature of climate change and in view of the various objectives of the energy transition, hydrogen is experiencing a new wave of strong interest. Awareness is growing over the fact that hydrogen can complement and decarbonise the energy mix, as well as improve its resilience. • We are initiating coverage of: i/ Nel (Buy | TP NOK 28), ii/ ITM Power (Buy | TP 450p), and iii/ Ceres Power (Conviction Buy | TP 1250p).
Since hitting a high of 207p in September last year the shares have fallen back to c. 145p, a decline of c. 30%. This compares against declines in the FTSE All-share and UK General Diversified Industrials of c. 3%. Even against a more volatile green/clean tech comp set Ceres shares have underperformed YTD, despite the strong funding position and major commercial developments of last year. The current market capitalisation less estimated net cash values the business as at just c. £150m. This und...
Further to Tuesday’s meaningful update on Weichai, Ceres has provided positive guidance ahead of its H1/FY2019 end. Management anticipates revenue to be at least £7m for the 6 months to 31 December 2018, an increase of 125% over the comparative period. As a result, FY revenue is expected to more than double to £15m, an uplift of £3m to our current forecasts (profit detail below). Similarly, in FY2020E we conservatively anticipate revenue to be £1m higher than our previous forecasts. Underp...
Ceres has confirmed that the second tranche of the equity investment from Weichai Power (Weichai) is being made as planned for £28.0m. This takes Weichai’s equity holding up to 20% post a cumulative c. £48.0m investment. The second part of the investment has been triggered by Ceres and Weichai agreeing Joint Venture and License agreements as outlined at the time of the initial Joint Development Agreement (JDA) announced earlier in the year (16 May 2018). Alongside this, today’s JDA outline...
Ceres’ FY2018 results confirm a year of demonstrable strategic headway. The Company has made excellent commercial strides, establishing partnerships with Weichai Power and Bosch, alongside progressing with four existing major OEMs. Revenue and other income for the year grew by 71% to £7m, while Ceres’ contracted order book has grown materially from £3m to £30m. Post year end, the balance sheet has been significantly strengthened via a c.£20m institutional fund raise and a combined £29m ...
In line with the Board’s announced strategy, Ceres Power has today announced that it is investing c. £7.0m in a new manufacturing facility in Redhill, Surrey. The new facility is in close proximity, c.20miles, of the existing Horsham office that will remain the Group’s Headquarters and also the Technical Centre. It is estimated that initial production at Redhill will supply the equivalent to 2 MW of fuel cells per annum increasing to 10 MW when fully operational. The new manufacturing base ...
Today’s strategic collaboration and licence agreements with Bosch is a very meaningful milestone for Ceres and its SteelCell® technology. Previously an unnamed OEM, the agreements will see both parties further develop Ceres’ fuel cell technology, establish small-volume production, and longer term scale up and mass-production capability. This targets multiple applications in multi-kW stacks, particularly for use in distributed power. Associated long-term revenue is expected to be material as...
Ceres has announced today a new partnership with Nissan to further develop fuel cell technology for EV applications. In addition, Ceres and The Welding Institute (‘TWI’) have been awarded a total of £8m UK government funding through the Advanced Propulsion Centre (‘APC’) for this project. Ceres will receive £7m of this funding. This is undoubtedly positive news and underpins the strength of Ceres’ partnership with Nissan and its interest in the commercialisation of SteelCell® techno...
LONDON--(BUSINESS WIRE)-- Ceres Power (AIM: CWR, "Ceres Power"), developer of the SteelCell®, a world-leading, low cost Solid Oxide Fuel Cell (SOFC) technology, is pleased to announce it has entered into a new partnership with Nissan to further develop fuel cell technology for EV applications. Ceres Power and The Welding Institute (“TWI”) have been awarded a total of £8m UK government funding through the Advanced Propulsion Centre (“APC”) for this project. Highlights: Nissan, Ceres Power and TWI to en...
Ceres’ General Meeting on Friday approved of the recent £20m fundraise and the first tranche of £19.4m of Weichai’s strategic investment, both at 15.08p. In addition, shareholders approved a ten for one share consolidation. The Board expressed a confident tone in Ceres’ update on 3 July, underpinned by JDA partnerships with six global OEMs, of which two already have strong intent to go to market via a licencing arrangement. The Company is well-balanced across its target markets, and foll...
Ceres has announced a very meaningful strategic partnership with and equity investment from Weichai Power. Weichai is listed in both Hong Kong and Shenzen, employs 74k people, and is currently valued at c. $10bn. The agreement includes £40m of equity investment for a 20% equity holding payable in two stages; £17m today at a price of 15.08p and £23.2m later in 2018 at a price of 16.46p, premiums of 18% and 29% to last night’s close respectively. In addition, the agreement provides the poten...
Commercial momentum remains positive in Ceres at the interim. The team has delivered against many of its key targets over the past six months, including securing its fifth partner with a major European manufacturer. Excellent strides have also been made with customer milestones, particularly with Nissan’s EV range extender programme and Cummins, in the development of its larger format SteelCell®. Increasing repeat business has seen sales double to £3.1m and Ceres remains on track to deliver ...
Ceres Power has today made a positive announcement with regard to its technology roadmap, and highlights the significant progress they are making towards commercialisation, in a number of significant markets. We continue to believe that Ceres will provide a crucial piece of the EV (Electric Vehicle) jigsaw, by providing clean charging overnight at home, and also significant benefits to data centres, residential in general, and commercial applications. Retain Buy 20p price target.
Ceres Power continues to show real commercial validation of its technology, and today has signed a new Joint Development Agreement (JDA) with a significant European-based global OEM. Ceres and the new partner will work together to develop prototype multi-kilowatt power systems for several potential applications.
Ceres has announced a further Joint Development Agreement (JDA) achieving the milestone it set out to sign five JDAs within two years. The new partner is a European based global OEM and joins Nissan, Honda, Cummins and an unnamed global OEM that already have JDAs in place. The announcement shows a continuation of the commercial development of the business and comes shortly after the release of a pre-close trading update (15th December) confirming the business has had a good H1 and is on track fi...
Ceres Power has released a pre-close trading update confirming the business is on track financially, commercially and operationally at the interim stage of the year. Revenue and other operating income in H118 is expected to be up 80% yoy at c. £3.0m (HY17: £1.6m). FY18 forecasts assumes yoy growth in revenue of c.45% to £6.0m (FY17: £4.1m), indicating the business is on track to at least meet current year estimates. The good performance in the early part of the year follows on from the FY17 ...
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