CERES POWER: Commercialisation ahead

In today's Times, market summary:

Ceres Power fell 1p to 136½p, despite talk that a US roadshow by the fuel cell specialist could drive the shares higher. Dealers believe that Ceres’s discount to Canada’s Ballard Power Systems*, the sector leader, could stimulate US institutional interest.

Actually, falling 1p is only half the story, considering it was down about 7p at one point.

By the way, certificate holders will have got the annual report by now. I notice it can also be downloaded from the company website.

*Ballard has a MCap of ~£350m and is also lossmaking. It's developing proton-membrane fuel cells, unlike those of CWR. I'm not sure how they will be able to compare ratings.