Global law firm Norton Rose Fulbright has advised Investec Bank plc and Joh Berenberg, Gossler & Co KG as joint global co-ordinators and joint bookrunners on a £181m placing for Ceres Power Holdings plc (Ceres Power).
Ceres Power is a global fuel cell and electrochemical technology company headquartered in the UK with a market capitalisation of approximately £2 billion.
Shares were placed with existing and institutional investors alongside Ceres Power’s strategic partners Bosch and Weichai and certain of its directors subscribing / conditionally subscribing for shares. The proceeds of the fundraising will be used to accelerate Ceres Power’s investment in the development and potential commercialisation of its solid-oxide electrolysis technology.
Clementine Hogarth, the London-based corporate partner who led on the transaction, commented: “We are delighted to have advised the banks on this successful fundraising by Ceres Power Holdings plc. Ceres’ success shows the appetite in London for listed companies focused on making the energy transition real and we expect other companies focused on developing new energy technologies to look at raising money in the UK market."
The Norton Rose Fulbright team also included associate Stephanie Notice. Partner Tom Vita advised on US securities law aspects, assisted by associate Kayla Kirk with Canadian securities law advice provided by corporate partner Bruce Sheiner and senior associate Sean Williamson.
Norton Rose Fulbright’s equity capital markets (ECM) team delivers legal advice to a number of prominent corporations and financial institutions around the world. The firm handles all types of ECM transactions, from niche listings to global equity offerings for large multi-nationals across all key industry sectors.