Weichai Power to acquire 20% stake in Ceres Power and form JV

Weichai Power signed an agreement to buy a 20% stake in British solid oxide fuel cell company Ceres Power for over GBP 40 million, and to set up a joint venture in Weifang, China to commercialize SOFC technology.

“Weichai Power plans to spend more than GBP40 million (USD54 million) to buy new shares issued by Ceres Power to own a 20 percent stake in the Crawley-based company.”yicaiglobal.com

• 1 source
• yicaiglobal.comWeichai Power Plans to Acquire 20% Stake in British Firm to Break Into Solid Oxide Fuel Cell MarketXu WeiMay 16, 2018

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