Ceres Power chairman tops up

Ceres Power's chairman Brian Count has spent £35,000 on shares in the fuel cell technology group.

He took 50,000 at 70p a time and now has 357,850, which is about 0.42% of the company.

Back in September Ceres reported a widening of losses on lower revenues in the year to June 30, but the fuel cell technology company said it is confident that it can benefit from the trend towards green technology.

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A Ceres Power CHP (Combined Heat and Power) product will be one of the lowest cost ways to reduce the carbon footprint of homes,' said chairman Brian Count.

'We are focused on installing CHP products into consumers' homes across the country in partnership with British Gas and are confident that we can deliver sales in mid 2012 as a platform for a volume ramp-up thereafter.'