Ceres Power Spins Out Battery Unit, Retains 37% Stake in Certain Energy
Ceres Power Holdings plc has spun out its battery subsidiary, now named Certain Energy, retaining a 37% stake and receiving future revenue shares. The £10 million funding round, led by the British Business Bank, will support Certain Energy's development of manganese flow battery technology for long-duration energy storage, enhancing its operational independence.
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Ceres Power Holdings plc has completed the spinout of its subsidiary RFC Power Ltd, which is now rebranded as Certain Energy, retaining a 37% stake. The Series A funding round raised £10 million, with contributions from the British Business Bank, Centrica plc, and Temasek Trust's Catalytic Capital.
Ceres will provide £1 million in cash and additional support through engineering services. Certain Energy's post-money valuation stands at £12 million, allowing it to focus on manganese flow battery technology essential for long-duration energy storage.
This shift enhances Certain Energy's operational independence while maintaining Ceres' involvement through equity ownership and future revenue sharing. The establishment of outside funding structures is significant as technology companies transition from research to commercialization. The success of Certain Energy will depend on its ability to validate its technology and develop commercial partnerships.
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