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6 August 2009 | PR 09/101

Intelligent Energy raises USD 30 Million

Intelligent Energy’s Chief Executive, Henri Winand

Henri Winand, Intelligent Energy’s Chief Executive

Funding drives commercialisation of its clean power systems

Leading clean power systems company and Loughborough University spin out Intelligent Energy has recently announced that it has raised $30 million (USD) at a material uplift in price received per ordinary share compared to previous funding rounds. The money raised from both existing and new investors will be used to provide for the next stage of Intelligent Energy’s growth, as it accelerates the commercialisation of its fuel cell power systems into its targeted mass markets. 

Intelligent Energy’s range of clean power system platforms based on its proprietary fuel cell technology has enabled it to target global mass markets through strong partnerships with blue chip customers that include Scottish & Southern Energy Plc and The Suzuki Motor Corporation. 

“There now exists a stronger sense of realism within the clean energy sector, with major players now expected to produce tangible results,” explained Intelligent Energy’s Chief Executive, Henri Winand.  “Only companies with solid execution and scalable businesses with clear pathways to commercialisation have been able to attract financing in such a challenging environment. The investment is a testament to the continued excellence in product development and very real commercial progress that Intelligent Energy has demonstrated with its partners.” 

“All our target markets offer very significant growth opportunities on a global scale and with these funds we will continue to accelerate the commercialisation phase of our business plan by driving the delivery of our blue chip partners’ clean fuel and power products to their consumer markets,” continued Dr. Winand. 

The recent round of fundraising will be followed by an open offer to all existing shareholders later in the year. 

Intelligent Energy was formed in 2001 following the acquisition of Advanced Power Sources, a company established by four Loughborough University researchers, Dr Paul Adcock, Dr Phil Mitchell, Dr Jon Moore and Tony Newbold.  The company has attracted substantial investment and today employs over 100 people, approximately 80 of which are based at its Loughborough Innovation Centre HQ.


For all media enquiries contact:

Anna Seddon
Marketing Manager, Enterprise Office
Loughborough University
T: 01509 223445
E: A.J.Seddon@lboro.ac.uk 

Notes for editors:

1. About Intelligent Energy
Intelligent Energy is a clean power systems company, with a range of leading fuel cell and hydrogen generation technologies. The company is focused on the provision of cleaner power and low carbon technologies. Intelligent Energy partners with leading companies globally, in the transportation, oil and gas, aerospace, defence, distributed generation and portable power markets. Current partners and customers include Scottish & Southern Energy plc with whom the company has formed a joint venture to commercialise fuel cell combined heat and power (CHP) systems, and The Suzuki Motor Corporation. Intelligent Energy’s successes in recent years include the development of the world’s first hydrogen fuel cell motorbike and supplying the fuel cell system to Boeing which powered the world’s first manned fuel cell aircraft.
Further information
Dr Jon Moore , Director of communications, Intelligent Energy
jon.moore@intelligent-energy.com , + 44 (0)1509 225863

2. About Loughborough University 
Loughborough is one of the country’s leading universities, with an international reputation for excellence in teaching and research, strong links with industry and unrivalled sporting achievement.

It was awarded the coveted Sunday Times University of the Year 2008-09 title, and is consistently ranked in the top twenty of UK universities in national newspaper league tables. In the 2008 National Student Survey, Loughborough was voted one of the top five universities in the UK, with 22 out of 30 of its subject areas being ranked in the top ten for overall satisfaction. It was named winner of the 2006, 2007 and 2008 Times Higher award for the UK’s Best Student Experience and winner of the 2007 award for Outstanding Support for Overseas Students. In recognition of its contribution to the sector, the University has been awarded six Queen's Anniversary Prizes – an achievement bettered by no other institution.

It is a member of the esteemed 1994 Group – a set of internationally recognised, research-intensive universities – and has a reputation for the relevance of its work. Its degree programmes are highly regarded by professional institutions and businesses, and its graduates are consistently targeted by the UK’s top recruiters.

Loughborough is also the UK’s premier university for sport. It has perhaps the best integrated sports development environment in the world and is home to some of the country’s leading coaches, sports scientists and support staff. It also has the country’s largest concentration of world-class training facilities across a wide range of sports.

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