Ceres Power spins out RFC Power in £10 million funding round

Ceres Power spins out RFC Power in £10 million funding round

Wed, August 26, 2026 at 12:30 PM GMT+3 1 min read

• CWR
• CRPHY -0.03%

Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF), the clean energy technology developer, is retaining an approximate 37% stake in RFC Power after the manganese flow battery company raised £10 million in a Series A funding round.

The company has provided an update on its ownership of RFC Power.

RFC Power became a wholly owned subsidiary of Ceres in September 2025, following the acquisition of its remaining share capital and intellectual property for a nominal amount.

Shares in Ceres, the clean energy technology developer, fell 1.41% to 405.20 pence in early trading on Wednesday.

RFC Power has announced a £10 million Series A funding round, led by the British Business Bank, with participation from Centrica, Ceres and Temasek Trust's Catalytic Capital for Climate and Health.

RFC Power has a post-money value of approximately £12 million following the funding round.

Ceres is contributing £1 million in cash, along with an additional £1.5 million of equity to be issued in exchange for in-kind engineering services.

Following the fundraise, Ceres will retain approximately 37% ownership of RFC Power and will receive a share of future revenues from all products sold.

Stuart Paynter, chief financial officer of Ceres, will join the board of RFC Power.

RFC Power has been rebranded as Certain Energy following completion of the fundraise and change in ownership.