uk main competitor is on the brink , page-2

Just makes us all the more thankful to CTCC for stumping up the $6 million.

Here's the actual announcement. Didn't Ceres have a big deal lined up with British Gas? Wonder what will happen there now?

Ceres Power Holdings plc

("Ceres", "Ceres Power" or "the Company")

Funding Update

Following recent announcements regarding Ceres' funding requirements, the Company announces that, despite extensive efforts it has been unsuccessful in securing sufficient funding for the business going forward. The Company will continue to explore all strategic options including a sale of the business, cancellation of the listing and in the absence of any alternative proposals commencement of an orderly wind down of the business. A further announcement will be made in due course.


Enquiries:

Ceres Power Holdings plc Tel. +44 (0)1403 273 463

David Pummell, Chief Executive Officer

Rex Vevers, Finance Director
Investec Bank plc Tel. +44 (0)20 7597 4000

Chris Sim/James Ireland



Kreab Gavin Anderson & Company Tel. +44 (0)20 7074 1800

Ken Cronin/Deborah Walter