Intelligent Energy, the clean power technology company, has completed its latest round of funding, raising in excess of £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 over £300 million 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.”
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.”