Fuel cell tech company in the UK is moving forward with consumer electronics.
INTELLIGENT ENERGY ENTERS INTO AGREEMENT TO DEVELOP EMBEDDED FUEL CELL TECHNOLOGY FOR SMARTPHONES
Intelligent Energy ("IE"), the energy technology group, is pleased to confirm an agreement with an emerging smartphone OEM to create a tailored development and integration programme of the Group's embedded fuel cell and fuels technologies for a specific smartphone application.
What this means to Intelligent Energy
· This underlines the first step in moving the Consumer Electronics division largely to a Joint Development Agreement ("JDA"), licensing and royalty business model, in line with the Group's strategy:
· We have established technical credibility by getting our first of kind product, Upp, directly into UK Apple Stores and its certification for use across a wide range of environments including use in aircrafts
· We have accrued important manufacturing IP and valuable, hard won, experience in our CE division which is also applicable to our other divisions
· As a result, we have purchased certain fuel and fuel cell manufacturing IP as part of the BIC transaction highlighted earlier this year
· Through Upp1's field use, we continue to accrue important data and insights into end consumer "energy-on-the-go" consumption patterns. We have nearly completed this exercise in developed markets such as the UK and are about to do the same with a number of Upp1 products deployed in India (a maximum of 30,000 Upp1s) leveraging our presence on over 27,000 cell telecom sites in that country
· This data is key to understanding market economics and commercials. These economic and commercial insights are planned to be used when moving the CE division towards a JDA, licensing and royalty model in line with the Group's business model
· This agreement builds on Intelligent Energy's existing prototype smartphone with an embedded fuel cell demonstrated to the press this summer and other embedded devices such as laptops demonstrated earlier.
· This agreement underlines the increasing traction being gained by Intelligent Energy in its engagement across the Consumer Electronics industry as potential partners explore the full potential of the technology
· This underlines our ability to work concomitantly with a wide universe of partners and customers operating in the same market segments as our preference is not to execute exclusive partnerships and agreements
· In time, this agreement may lead to a licensing agreement
· Revenue in the short-term will be attributable to the JDA alone
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).
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Intelligent Energy Holdings plc
Charnwood Building, Ashby Road, Loughborough, LE11 3GB, UK Investor Relations office: Level 10, 88 Wood street, London, EC2V 7RS, UK
