Ceres

Ceres Power has retained about 37% of RFC Power after the manganese flow battery business raised £10 million in a Series A round led by the British Business Bank and valued post-money at roughly £12 million. Ceres contributed £1 million in cash and £1.5 million of equity in exchange for in‑kind engineering services, and will receive a share of future product revenues. Stuart Paynter, Ceres CFO, will join RFC Power’s board and the business has been rebranded as Certain Energy. » More on finance.yahoo.com

Subsidiary RFC Power completed a £10 million Series A funding round, reducing Ceres Power’s stake to around 37%. Ceres contributed £1 million in cash and received additional shares worth £1.5 million for engineering services. RFC Power’s post‑money valuation is about £12 million; the company will trade as Certain Energy. Ceres secures a revenue share on sold products and is appointing CFO Stuart Paynter to the board. » More on de.investing.com

Ceres Power is making a conditional offer of new ordinary shares to retail investors through the RetailBook platform; the offer is part of a larger capital raise with a parallel placement to institutional investors and subscriptions by certain directors. The issue price will be set by a bookbuilding process, the minimum subscription is £250, and subscriptions can be made via ISAs, SIPPs or regular brokerage accounts; RetailBook charges no commission. Admission of the new shares to trading on the Main Market of the London Stock Exchange is expected on 12 June. Net proceeds are intended to strengthen the balance sheet and finance targeted investments to support scaling with partners. » More on de.investing.com