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29 February 2012 | PR 12/40

Investment values Intelligent Energy at $0.5 Billion

Photo

Boris Johnson, Mayor of London, admires the Fuel Cell Black Cab, built by Intelligent Energy, and on display as part of the Technology Strategy Board's demonstration of hydrogen and fuel cell technologies.

Clean power technology firm
announces
$35 Million funding round to accelerate commercialisation in stationary power and consumer electronics markets

Intelligent Energy, the clean power technology company that was originally a spin-out from Loughborough University, today announced the completion of its latest round of funding, raising in excess of
$35 million (£22 million) from existing and new institutional shareholders. This investment, achieved through a placement at £2.30 per share, values the company (on a fully diluted basis) at approximately
$0.5 billion and will enable Intelligent Energy to increase its pace of commercialisation within the consumer electronics and stationary power markets.

“Intelligent Energy’s growth continues to gather momentum as we see firm traction for our clean and efficient power technology in each of our key market sectors: motive, consumer electronic and stationary power,” said Dr Henri Winand. “Hot on the heels of our landmark joint venture announcement with Suzuki, this latest round of funding is firmly aimed at reflecting this success within our consumer electronics and stationary power divisions. Partners and customers are ready to take advantage of our scalable power cores in these markets, worth around $410bn and $150bn respectively, so it’s an incredibly exciting time for us.”

Earlier this month, Intelligent Energy announced the creation of SMILE FC System Corporation, a Joint Venture company formed with the Suzuki Motor Corporation, to develop and manufacture air-cooled fuel cell technologies for various industry sectors. Both companies have taken a 50 percent stake in SMILE FC System Corporation, which is led by Mr Osamu Honda, Executive Vice President and representative director for the Suzuki Motor Corporation.

Dr Mark Lawson-Statham, Director of Corporate Finance, commented, “This funding round, and the recently announced Joint Venture with Suzuki, further underlines Intelligent Energy’s rapid transition from a world class developer of power technologies to a company that is, through its relationships with key global OEMs, taking products deep into high volume markets.”

Professor Steve Rothberg Loughborough University’s Pro Vice Chancellor (Enterprise) added: “From the company’s origins in ground breaking research at Loughborough in the late 1980s to its current status as a leading company employing 250 people worldwide, the University is immensely proud of Intelligent Energy’s achievements.”

−ENDS−

For all media enquiries contact:

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

Notes for editors:

About Intelligent Energy
Intelligent Energy is a leading clean power technology company with a globally scalable business, operating in the stationary power, motive and consumer electronics sectors. Its proprietary and highly efficient power cores are designed to be integrated into high volume, mass market products and have received commercial approval from significant global brands.

In addition to visiting Intelligent Energy, more information is available via Twitter, Youtube, Flickr and LinkedIn.

About Loughborough University
Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.

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 2011 National Student Survey, Loughborough was voted one of the top universities in the UK, and has topped the Times Higher Education league for the UK’s Best Student Experience every year since the poll's inception in 2006. In recognition of its contribution to the sector, the University has been awarded six Queen's Anniversary Prizes.

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.

It is a member of the 1994 Group of 19 leading research-intensive universities. The Group was established in 1994 to promote excellence in university research and teaching. Each member undertakes diverse and high-quality research, while ensuring excellent levels of teaching and student experience.

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