Intelligent Energy’s Chairman, John Rennocks, commented on the fundraising: 
“I am delighted to be able to announce a successful financing round, characterised by strong support from our existing shareholders and the introduction of a new major investor with expertise in Clean Energy technologies.  Overall, this funding round represents a welcome endorsement of our business strategy and technology leadership.”

Intelligent Energy is focused on the provision of cleaner power and carbon abatement, via a range of world-class fuel cell, fuel processing, desulphurisaiton and hydrogen generation technologies.  Intelligent Energy’s business model is to partner with leading companies globally in the transportation, oil and gas, aerospace, defence, distributed generation and portable power markets.

Intelligent Energy’s current partners and customers include Boeing, for whom Intelligent Energy have developed a fuel cell system to power a light aircraft; PSA Peugeot Citroën, with whom the company is developing automotive fuel cell systems and The Suzuki Motor Corporation, with whom the company is working on the development of prototype hydrogen fuel cell motorcycles using Intelligent Energy’s advanced fuel cell power systems.  The company has received high-level recognition both for its portfolio of innovative technologies and its business operations and, in 2006, was one of only 36 advanced technology companies worldwide to be named a World Economic Forum Technology Pioneer.

Intelligent Energy’s proprietary fuel cell power systems are characterised by high power density and performance and multi-functional low cost components, designed for manufacturing.  The result is fuel cell systems of reduced size, cost and complexity.  The company’s fuel processing and hydrogen generation platforms are fuel-flexible, providing hydrogen from a range of both conventional fossil fuel and sustainable fuel feedstocks.  Intelligent Energy continues to build upon its fundamental technological differentiators to produce fuel cell system platforms, which offer cost-effective solutions to clean energy provision across a broad range of applications.

Intelligent Energy has offices in Loughborough, London, Long Beach, Albuquerque and Johannesburg.
http://www.intelligent-energy.com