Intelligent Energy raises funds for fuel cell power system
Intelligent Energy (Loughborough, UK) said the investment, achieved through a placement at £1.70 ($2.7) per share, will serve to accelerate the commercialization of its advanced fuel cell power systems.
"Volatile oil prices and the fragility of our current energy infrastructure, further highlights the need for clean and reliable energy technologies," commented Dr. Henri Winand, Chief Executive of Intelligent Energy. "This investment allows us to continue the commercialization of our fuel cell technology, some of which is already undergoing public road testing. Our Fuel Cell Black Cabs have debuted on the streets of London, while the Suzuki Burgman Fuel Cell Scooter recently obtained European Whole Vehicle Type Approval – a first for any fuel cell vehicle."
Founded in 2001, Intelligent Energy now employs roughly 200 staff across offices in Britain, United States, India, Japan and Germany.
Customers and partners include Scottish & Southern Energy (with its combined heat and power joint venture IECHP ltd), Boeing (with the first manned fuel cell flight in 2008), Suzuki Motor Corporation (the newly WVTA certified Suzuki Burgman Fuel Cell Scooter). The company said it is currently leading a project to deliver a fleet of fuel cell black cabs in time for next year’s Olympics.