# 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.

- Type: Acquisition
- Announced: 2018-05-16
- Where: Weifang, Shandong, China
- Value: $54.0M (40.0M GBP)
- Status: announced
- Products: solid oxide fuel cell systems, SteelCell technology
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Weichai Power](https://endata.com/companies/4175.md) (acquirer)
- [Ceres Power](https://endata.com/companies/31892.md) (target)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/weichai-power-plans-to-acquire-20-stake-in-british-firm-to-break-into-solid-oxide-fuel-cell-market), 2018-05-16: "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."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.