InvestorsHub Logo
Followers 13
Posts 917
Boards Moderated 0
Alias Born 02/22/2015

Re: None

Wednesday, 09/30/2015 10:49:47 AM

Wednesday, September 30, 2015 10:49:47 AM

Post# of 11
Intelligent Energy Holdings plc RNS Announcement


INTELLIGENT ENERGY EXTENDS ITS DEVELOPMENT PROGRAMME WITH EXISTING ASIAN AUTOMOTIVE CUSTOMER

Intelligent Energy ("IE"), the energy technology group, is pleased to confirm it has signed a new contract for a joint development programme with one of its existing Asian automotive OEM customers. The new contract is worth c£6.5 million (c$10m), and is expected to last for approximately two and a half years.


What this means to Intelligent Energy

· This transaction underlines the continued execution of the Motive divisional business plan and the client's confidence in IE's fuel cell technology and expertise.

· This new contract forms an integral part of the path towards the commercialisation of IE's fuel cell technology.

· IE is the only independent provider of fuel cell (FC) licensing technology to car OEMs so is well placed to support car manufacturers in their transition from internal combustion engines to fuel cells at a time when regulatory pressure and costs to clean diesel and petrol/gasoline engines are rising.

· IE already works with nearly 25% of the 17 OEMs who each manufacture more than 1 million cars a year. In the past year, IE signed two new Asian OEMs showing that momentum is building in this space.

· Recent news show how it is increasingly difficult to meet legislative emission rules with current internal combustion engines thus propelling OEMs towards more electric drives and fuel cell electric drivetrains. IE, in partnership with OEMs, provides an engine tailored to the customers' needs with an average saving of $1bn in R&D costs and often more than a decade of development time.



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 900 patents granted (and over 1000 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 and has an ADR program in the USA (LSE: IEH; ADR: INGYY).
More information on Intelligent Energy is available at WordPress, Twitter, YouTube and LinkedIn. Or visit www.intelligent-energy.com.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.