Intelligent Energy raises nearly $70 million through IPO
Intelligent Energy, a prominent developer of fuel cell technology based in the United Kingdom, has raised nearly $70 million through its initial public offering (IPO) in London. The company had seen promise in the fuel cell industry and the global market, opting to launch its IPO in order to obtain new funding that would help it make progress on its various projects. Intelligent Energy has played a major role in many countries, especially when it comes to the adoption of fuel cell technology and the development of a hydrogen fuel infrastructure.
Funding to help launch new fuel cell charger and energy systems in India
The funding that Intelligent Energy has raised will be used to fund the launch of a new USB-sized charging device designed for smartphones. This device will make use of a small hydrogen fuel cell that will produce enough electrical power to charge smartphones without having to be connected to an outlet. The funding will also be used to build emergency back-up energy systems for telecommunications towers in India. This is a relatively common use for fuel cells, especially in countries where mobile technology is beginning to see higher degrees of adoption.
Intelligent Energy opts for its native market rather than launch IPO in the US
Typically, technology companies list their IPOs in the United States, where the Nasdaq holds a great deal of promise. Companies like Ballard Power Systems, Plug Power, and FuelCell Energy are listed with the Nasdaq and have found some degree of success. Intelligent Energy was born in the United Kingdom, however, and has an interest in listing in its native market.
Fuel cells continue to attract attention throughout the world
Fuel cells are gaining momentum throughout the world through various industries. The transportation sector, in particular, has a serious interest in fuel cell technology. Companies like Intelligent Energy have played a vital role in the growing adoption of these energy systems and have helped build a working hydrogen fuel infrastructure in many parts of the world. This infrastructure is needed for fuel cells to continue seeing high levels of adoption.