(Alliance News) - Ceres Power Holdings PLC on Thursday said it has been informed that approvals for its China joint venture agreements with Robert Bosch GmbH and Weichai Power have postponed until 2023.
The West Sussex-based clean energy technology developer said all parties remain committed to the deal, as its structure has already been agreed. However, "several" commercial items require more time to be finalised between the partners, it said.
Ceres said it will delay seeking a premium listing on the London Stock Exchange as a result.
Shares in Ceres were down 4.0% to 348.76 pence in London on Thursday afternoon.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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Ceres Power (CWR)