(Alliance News) - Ceres Power Holdings PLC on Thursday proposed to move to the London Stock Exchange's Main Market, and cancel its AIM listing.
The clean energy technology developer said the premium listing would support its long-term strategy
and attract more international investment. The company said it has become "a global leader in fuel cell and electrochemical technology" since its 2004 admission to AIM.
Chief Executive Officer Phil Caldwell said: "Over 20 years, Ceres has grown to become one of the UK's most important clean energy technology companies. As a board we believe the time is right to take our next step to a Premium Listing and the UK's highest standards of regulation and corporate governance, reflecting our growth in international partnerships, our widening investor base and the ambition for our technology to play a vital role in decarbonising the global energy system."
Ceres Power shares rose 4.6% to 291.40 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
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Ceres Power (CWR)