29th Jul 2014 09:57
LONDON (Alliance News) - Intelligent Energy Holdings PLC Tuesday said it has signed a further two-year, multi-million pound development deal with an unnamed Japanese volume automotive original equipment manufacturer.
The deal is set to contribute to Intelligent Energy's revenues in the 2014 and 2015 financial years, said the company, though it did not provide specific financial details on the contract.
The new contract will focus on developing Intelligent Energy's differentiated fuel cell engine technology towards a commercial launch.
The deal "highlights our growing role in the Japanese car OEM market" and "marks a further, positive step in our relationship with this valued Japanese customer," Intelligent Energy Chief Executive Henri Winand said in a statement.
Intelligent Energy shares were up 0.8% to 230.5 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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