Intelligent Energy Receives $13,600,000 New Funding

  • Feed Type
  • Date
    7/2/2008
  • Company Name
    Intelligent Energy
  • Mailing Address
    2955 Redondo Avenue Long Beach, CA 90806
  • Company Description
    Intelligent Energy has delivered a series of landmark fuel cell power systems in recent months to validate its claims as a leading innovator of clean fuel and power technologies for the new energy economy, including the Suzuki Crosscage fuel cell motorcycle, the H2Origin, a fuel cell electric hybrid delivery vehicle developed with PSA Peugeot Citroën, and the world’s first manned fuel cell powered aircraft, in a partnership with Boeing Research & Technology Europe. In addition, Intelligent Energy and Scottish & Southern Energy recently formed a joint venture to provide hydrogen fuel cell combined heat and power (CHP) systems for domestic and business users in the UK and Ireland. Furthermore, Intelligent Energy has recently been selected as a lead partner on a project that aims to deliver fuel cell powered taxis for London in time for the 2012 Olympics, in a collaboration part-funded by the UK’s Technology Strategy Board.
  • Website
    http://www.intelligent-energy.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $13,600,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    The funds will be used to provide for Intelligent Energy’s growth plans as it moves towards commercialisation of its clean and efficient hydrogen fuel cell technology in applications across a broad range of global target markets.
  • M&A Terms
  • Venture Investor
    Undisclosed