Ceres Power Regulatory News (CWR)

30 Dec 2008 07:00

Ceres Power Holdings plc

('Ceres', 'Ceres Power' or the 'Company') Retirement of Executive Director

Ceres Power, the AIM listed alternative energy Company, announces that Dr. Andrew Baker, Operations Director, will step down from the Board on 31 December 2008. 

Brian Count, Ceres Power Chairman, said: 'I would like to thank Andrew for his substantial contribution to the Group over the last four years in the development of the technology enabling the successful build of the Alpha CHP product under the contract with British Gas. Andrew has developed a world-leading product engineering and manufacturing team. On behalf of the Board I wish Andrew every success for the future.'

The Board is pleased to welcome Jonathan Watkins as Chief Operating Officer ("COO") with responsibilities spanning supply chain management, manufacturing and product engineering. Jonathan joins the Ceres executive management team from Acument Global Technologies, a global leader in automotive engineered components with sales of US$1.8bn. During his career he has held a number of director level posts with responsibility for technology, engineering and manufacturing and new product introduction. 

Peter Bance, Ceres Power CEO, commented: 'I am very pleased that Jonathan has decided to join Ceres. His experience in leading global technology-led businesses and his delivery-focused mindset will prove invaluable as we build our fuel cell manufacturing and supply chain capability through initial deployment and volume product launch.'

Commenting on outlook, Dr. Bance said that following the successful Alpha CHP build recently announced, the Company's CHP testing programme is on track with an investor update of this programme expected during Q1 2009. 

For further information contact: Ceres Power Holdings plc Tel. +44 (0)1293 400 404

Peter Bance, Chief Executive

Gavin Anderson & Company Tel. +44 (0)20 7554 1400

Ken Cronin/Deborah Walter/Robert Speed