Fuel cell company raises new cash

Fuel cell specialist Intelligent Energy has raised $13.6m (£6.8m) from private funding to spend on research and development and partnerships with OEMs.

“This latest injection of funds… will allow us to build on recent progress in a range of clean power collaborations,” said Henri Winand, chief executive at Intelligent Energy. “We will use this capital to continue to prove the potential and robustness of our technology in new sectors, while advancing more mature projects towards the market.”

The company pursues a strategy of technology licensing and joint ventures with OEMs, a spokesman told BusinessGreen.com, and the new funding will help it to continue on this path.

Recent joint projects include the Suzuki Crosscage fuel cell motorcycle, the H2Origin, a fuel cell electric hybrid delivery vehicle developed with PSA Peugeot Citroën, and the world’s first manned fuel cell-powered aircraft, in partnership with Boeing Research & Technology Europe.

Furthermore, Intelligent Energy and Scottish & Southern Energy recently formed a joint venture to provide hydrogen fuel cell combined heat and power systems for domestic and business users in the UK and Ireland.

The company is also involved in a project to deliver fuel cell-powered taxis for London, part-funded by the UK’s Technology Strategy Board.

Hydrogen fuel cells produce power from hydrogen and air, emitting only water vapour.

However, recent advances in the development of hybrid and all-electric vehicles have caused experts to question the future of fuel-cell powered vehicles, citing the energy intensity required in producing hydrogen gas for fuel cells.

A recent report in the Economist suggested investment is now flowing towards the development of plug-in vehicles rather than fuel cells.