Ceres Power Regulatory News (CWR)

21 October 2021

Ceres Power Holdings plc

Appointment of Eric Lakin as Chief Financial Officer

Horsham, UK: Ceres Power Holdings plc ("Ceres", the "Company") (AIM:CWR), a global leader in fuel cell and electrochemical technology, is pleased to announce the appointment of Eric Lakin as Chief Financial Officer (CFO). Eric is expected to join the Company and the Board of Directors in January 2022.

Eric has a proven track record in industrial, engineering and technology sectors with extensive experience in building and managing global, multi-disciplinary finance teams through periods of significant change. He joins Ceres from Smiths Group plc, the FTSE100 engineering group where he has spent the last 10 years and he was latterly CFO of Smiths Interconnect, a £330m revenue industrial technology division with R&D and manufacturing locations across multiple countries.

Eric has significant credentials in operational and corporate finance, strategy and M&A through his career at Smiths and prior roles in private equity and finance. He has broad international experience including a secondment to the US and a Board position in a joint venture in China. Previously, Eric held Equity Research Analyst roles with both Bank of America and Credit Suisse giving him strong experience in the public markets, investor relations and listed company governance requirements.

Eric succeeds the Company's current CFO Richard Preston, who has decided to step down from his role to spend more time with his family. He will leave the Board of Directors when Eric joins Ceres and will remain as an employee of the Company for a period to ensure a smooth transition of responsibilities.

Phil Caldwell, Chief Executive Officer of Ceres, commented: "I would like to say a huge thank you to Richard for his significant contribution over 13 years towards building a successful business at Ceres. We appreciate his ongoing support over the coming months in handing over to Eric and wish him all the very best for the future. 

"We are delighted to announce Eric's appointment as CFO. His extensive experience in operational finance and corporate development within engineering and technology companies makes him the ideal choice as CFO for the next stage in the company's growth and we look forward to welcoming him to the team."

Eric Lakin said of his appointment: "Ceres has a purpose to deliver a sustainable future that I admire greatly. I am delighted to be joining the Company as CFO with the significant opportunities ahead as it transitions to the Main List and expands its commercial relationships. I look forward to playing my part in its continuing success and in delivering value for stakeholders."

Ends

The following disclosures are required in accordance with Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies ("AIM Rules")

Eric Daniel Lakin (age 50), is, or has been during the last five years, a director of the following companies:

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

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 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.