In July, Intelligent Energy (IEH) floated on the main London market, raising £72m to help bring to market several products powered by fuel cells.
IC TIP:
Buy
at
208p
One of these products provides power to telecoms towers. Management signed its first operational framework agreement with an Indian telecoms provider in January, and another in March. With about £50m in annualised revenues, this business is now the company's largest generator of turnover. The business remains on track to hit its medium-term target of 125,000 to 135,000 contracted sites, says management. This could generate around £650m of revenue a year.