Intelligent Energy signs accord with Japanese OEM

Intelligent Energy signs agreement with Japanese volume automotive OEM to develop its class-leading fuel cell engine technology towards commercial launch

29 July 2014. London (UK): Intelligent Energy Holdings plc, the international power technology company, has signed a further two-year, multi-million pound development agreement with a Japanese volume automotive Original Equipment Manufacturer ("OEM"). The contract will contribute to Intelligent Energy's revenues during financial years 2014 and 2015.

The development agreement marks a further step in Intelligent Energy's progress in the fast-developing Japanese market for fuel cell vehicles and with its relationship with the Japanese mainstream vehicle manufacturer. The agreement will focus on the development of Intelligent Energy's differentiated fuel cell engine technology towards productionisation in applications that are targeted to include compact cars and two-wheeler vehicles, as well as in range extender units for low-emission light vehicles.

Loughborough-based Intelligent Energy provides its leading fuel cell engine technology in the 2kW to 100kW+ range to high volume automotive OEMs through a licensing model, with two mainstream Japanese OEMs amongst its current client base. This approach combines Intelligent Energy's expertise in efficient power technologies with its OEM partners' well-established broad channels to market.

Dr. Henri Winand, Chief Executive Officer of Intelligent Energy, said: "We are delighted to announce this further agreement, which highlights our growing role in the Japanese car OEM market. It also marks a further, positive step in our relationship with this valued Japanese customer. It is always important to work in an industry for some years when working with any partner, and that is even more so in Japan: thankfully, we have worked with Japanese car manufacturers for more than seven years. Japan is taking the lead globally in the adoption of fuel cell engine technology for automotive use. It is a very exciting place to do business for us."

About Intelligent Energy 

Intelligent Energy develops efficient and clean energy technology for the global consumer electronics, automotive and distributed power and generation markets - from compact energy packs for mobile devices, to powertrains for zero-emission vehicles, and stationary power units for the always-on infrastructure.

Our advanced technology architecture is used by international companies to create differentiated, cost-efficient fuel cell power systems for mass market applications. It enables Intelligent Energy and our industry partners to solve the challenges of continuous power and productivity, by creating convenient everyday energy solutions to power your life.

With headquarters in Loughborough in the UK, the company also has operations in India and Japan and a commercial office in Silicon Valley, USA. Intelligent Energy Holdings plc is listed on the London Stock Exchange (ticker symbol IEH).

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Contacts

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Email: [email protected] Tel: +44 (0)20 8811 2474