100 jobs at risk as green firm faces wind-down
A clean energy company is facing closure with 100 jobs at risk across Crawley and Horsham.
Ceres Power, described as a world-leading alternative energy company, announced it had been unsuccessful in securing future funding for the business.
The company had been trying to secure additional funding for its small-scale combined heat and power energy efficient boiler.
In a statement to the Stock Exchange a spokesperson for Ceres said: “Despite extensive efforts [the company] 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.”
Shares in the company have plummeted from a high of 17.50p to 1.68p this year.
Analysts said a wind-down of the company was the most likely outcome.
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Saturday 25 May 2013
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