8th Feb 2016 07:00
8 February 2016
Intelligent Energy Holdings plc
JOINT DEVELOPMENT AGREEMENT WITH SMARTPHONE OEM SIGNED
CONTRACT WORTH £5.25M
Intelligent Energy ("IE"), the energy technology group, is pleased to confirm that it has signed a joint development agreement (JDA) with an emerging smartphone OEM following on from a Letter of Intent signed in late November 2015.
The deal will see IE and the OEM working closely together to deliver a tailored development and integration programme to address smartphone power limitations.
The JDA has a total contract value of £5.25m. The JDA is expected to be cash flow positive with 10% payable following signature followed by a number of time based instalments over the next 24 months.
The agreement is in line with IE's on-going Consumer Electronics strategy where the development costs are shared with partners and marks another important step in licensing the Company's technology in the smartphone market.
Henri Winand, CEO of Intelligent Energy, said:
"We are delighted to announce this JDA for the Consumer Electronics division, which strengthens our existing relationship with this emerging smartphone OEM. It reflects the world class nature of our technology, and the scope of applications it has going forward."
Enquiries:
Intelligent Energy Holdings plc Henri Winand, Chief Executive Officer John Maguire, Chief Financial Officer
| +44 (0) 1509 271271 | ||
Tulchan Communications James Macey White Matt Low Nick Hennis | +44 (0) 207 353 4200 | ||
Notes to Editors
About Intelligent Energy
Intelligent Energy Holdings plc is an energy technology group which develops efficient and clean hydrogen fuel cell power systems for the global automotive, consumer electronics, distributed power and generation markets - from powering zero-emission vehicles to compact energy packs for mobile devices and stationary power units for the always-on infrastructure.
Working with international companies, Intelligent Energy aims to embed its technology in mass market applications to solve the challenges of continuous power and productivity, by creating everyday energy solutions to power people's lives. The Group's intellectual property and expertise is based around proprietary fuel cell technologies, which are the product of over 25 years of research and development. Its patent portfolio includes more than 1000 plus patents granted (and over 1000 plus patents pending) across more than 400 patent families. The Group also maintains a significant body of confidential know-how and trade secrets.
With its principal facility and headquarters in Loughborough, UK, the company also has operations in India, Japan and Singapore, a commercial office in Silicon Valley, USA and development facilities co-located at the French Alternative Energies and Atomic Energy Commission in Grenoble and at NASA in Florida, USA. Intelligent Energy Holdings plc is listed on the London Stock Exchange (LSE: IEH).
More information on Intelligent Energy is available at Twitter, YouTube and LinkedIn. Or visit www.intelligent-energy.com.
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