Alternative energy co Ceres Power appoints CEO

British alternative energy company Ceres Power said on Thursday it named David Pummell chief executive after its previous CEO resigned abruptly in June.

Peter Bance resigned as CEO of Ceres on June 14.

In March, the company found issues with its CHP fuel cell boiler, designed to generate home heating and hot water, during field trials. On July 28, Ceres said it made progress towards resolving these issues.

Pummell, who will take up the post on Sept. 5, was CEO of MAPS Technology, which designs, develops and manufactures non-destructive testing equipment using unique stress management technology.

"Ceres has faced a number of recent challenges, but I am confident that we can successfully commercialise the company's CHP product and deliver significant shareholder value," Pummell said in a statement.

Source: Reuters