The fuel cell technology company said the placing was to existing and new institutional investors, and is conditional upon resolutions being passed at a general meeting on
"This level of funding recognises the significant progress the company has made over the past year and is an endorsement of the management team and its strategy for the company. We are especially delighted with the quality of investors that we have attracted to the register," Chairman
The company wants to take advantage of the growing natural gas market by offering fuel cell technologies, which are generally believed to be the most efficient way to generate electricity from natural gas.
Ceres said that it will use the funds to develop its operations, support its product creation and provide it with the flexibility to increase manufacturing volumes at its
"This funding will enable the company to advance the development and commercialisation of our low-cost Steel Cell technology across different markets and applications, with our world class partners," Chief Executive
"This level of funding recognises the significant progress the company has made over the past year and is an endorsement of the management team and its strategy for the company,"
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