Potential acquisition of power management rights

24 February 2015

Intelligent Energy Holdings plc

Potential acquisition of long term power management rights in India

Intelligent Energy ("IE"), the energy technology company, notes the recent media speculation and can confirm an agreement in principle has been reached with GTL, a provider of services and infrastructure to the Indian telecommunications sector, with regard to the long term power management rights over circa a 26,000 telecom tower estate in India. IE currently has an estate of more than 10,000 revenue generating sites, the majority from an interim contract with GTL. This agreement will increase the estate to over circa 26,000 towers.

Highlights of the agreement in principle include:

· It is expected to secure more than £1bn of contracted revenue over the next decade (over £100m per annum). This agreement will be EBITDA and cash flow positive from the outset and provide a platform to introduce Intelligent Energy's industry leading distributed energy generation technology into the telecoms sector at scale.

· The proposed business acquisition cost is expected to be less than the site acquisition costs and the ongoing lifetime capital costs as set out in Intelligent Energy's prospectus at the time of IPO, although the in principle agreement builds these capital costs into the acquisition price.

· The acquisition would be financed by a mix of locally sourced debt and cash from Intelligent Energy's existing cash resources.

The agreement is subject to both contract and financing and requires the parties to complete a number of enabling activities, including the approval of GTL's lenders. Further details will be provided by the Company in due course.

Enquiries:

Intelligent Energy Holdings plc +44 (0)1509 271271

Dr. Henri Winand Chief Executive Officer

John Maguire Chief Financial Officer

Dr. Mark Lawson-Statham Director of Corporate Finance

Tulchan Communications +44 (0)207 353 4200

James Macey White

Victoria Huxster

[email protected]

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 400 patents granted (and over 600 patents pending) across more than 300 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 research facilities in Florida, USA. Intelligent Energy Holdings plc is listed on the London Stock Exchange (IEH: LN).

More information on Intelligent Energy is available at WordPress, Twitter, YouTube and LinkedIn. Or visit the Intelligent Energy website.