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Fundraising: Intelligent Energy |
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Intelligent Energy raises $ 17m in first funding round First published in Cleantech magazine, June/July 2007. Copyright Cleantech Investor Ltd, 2007
Fund & Investors
Fuel cell power systems company Intelligent Energy (IE), which had previously considered an AIM listing, has completed a private fundraising round, obtaining a total of $ 17m via a number of private placements, followed by an open offer to all existing shareholders. Backers of IE’s fund include Credit Suisse Securities, Black River Commodity Clean Energy Investment Fund, Black River Global Equity Fund, Meditor Capital Management and Evolution Placements Corporation. The proceeds from the fundraising will help IE to develop and exploit its technology portfolio. Law firm Speechly Bircham has provided legal advice to the IE team. John Rennocks is Intelligent Energy’s CEO.
Investments
Founded in 2001, Intelligent Energy is a producer of fuel cell and processing, desulphurisation and hydrogen generation technologies. In 2005, the company grabbed headlines with the launch of the world’s first purpose-built hydrogen powered motorbike on the North American market. Since its inception, the company has made strategic acquisitions of R&D, technology and fuel cell businesses to support its activity in the sector. IE has offices in Loughborough and London in the UK, Long Beach and Albuquerque in the US and Johannesburg, South Africa.
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