CWR.L
6 September 2024
Ceres Power Holdings
plc
("Ceres",
the "Company")
Board change: Appointment of
Stuart Paynter as CFO
Ceres Power Holdings plc (CWR.L), a
leading developer of clean energy technology, today announces the
appointment of Stuart Paynter as Chief Financial Officer (CFO) and
Board member. Simultaneously, the Company announces that Eric Lakin will
step down as CFO and from the Board after nearly three years in the
role to pursue other interests. These changes will become effective
on 1 October 2024. Eric will remain with Ceres for sufficient time
to ensure a smooth transition of responsibilities.
Stuart has extensive financial and
commercial experience across a range of advanced technology
sectors, as well as a strong capital markets, UK governance and
transformation delivery track record. He was most recently Chief
Financial Officer and Board Director of advanced therapies
innovator Oxford BioMedica plc where, in his seven-year tenure, the
business grew its revenue more than five-fold to over £100 million
and completed transactions to successfully internationalise the
business in the US and Europe. Stuart also spent eight years at
FTSE 100-listed Shire Plc in various finance and strategic roles.
Stuart is a Chartered Accountant and has a degree in Physics from
Imperial College.
Phil Caldwell, CEO of Ceres,
commented: "I would like to extend a very warm welcome
to Stuart. He is hugely experienced in growing technology
businesses through licensing and partnerships, and I know he will
be a great addition to the business. I would also like to take the
opportunity to offer my sincere thanks to Eric for his contribution
and support. Eric has been a valuable member of my Executive Team
and the whole business wishes him the very best for the
future."
Stuart Paynter, commenting on his appointment,
added:
"I am delighted to have the
opportunity to join Ceres in its mission to enable a net zero
future. I look forward to working with Phil, the Board and the
outstanding team innovating world class clean energy technologies
and delivering the ambitious growth strategy of the
company."
End
For
further information visit www.ceres.tech
or
contact:
Disclosures required in respect of Listing Rule
9.6.13
In addition to his appointment to
the Ceres Board, Stuart Paynter holds or has held the following
directorships or partnerships in the past five years:
Oxford BioMedica plc - appointed 29
August 2017, resigned 2 September 2024
About Ceres
Ceres is a leading developer of clean
energy technology: electrolysis for the production of green
hydrogen and fuel cells for power generation. Its asset-light
licensing model has seen it establish partnerships with some of the
world's largest companies, such as Bosch, Doosan, Delta, Denso and
Weichai. Ceres' solid oxide technology supports greater
electrification of our energy systems and produces green hydrogen
at high-efficiencies as a route to decarbonise emissions-intensive
industries such as steelmaking, ammonia and future fuels. Ceres is
listed on the London Stock Exchange ("LSE") (LSE: CWR) and is
classified by the LSE Green Economy Mark, which recognises listed
companies that derive more than 50% of their activity from the
green economy. Read more on our website www.ceres.tech
or follow us on LinkedIn.