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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Ceres facing cash bonfire

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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
An initiation note from investment bank Berenberg gives an optimistic take on the future of fuels cells technology developer Ceres Power (CWR:AIM).
It has slapped a 15p target on the stock, versus the current 11.75p. Yet the technology is still years away from commercial success, if it gets there at all. Berenberg predicts that massive funding is still needed.
The investment bank forecasts £25.4m will be burned through by the business by 2019, at which point estimated revenues of £7m will still be dwarfed by £9.7m of pre-tax losses. Ceres had £16m of net cash as of 30 June.
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