Shares in Intelligent Energy Holdings (IEH) have fallen by more than 60 per cent since the group listed on the main market in July last year. However the fuel-cell technology company has made some promising developments.
Most recently, the group has acquired the portable fuel cell and disposable fuel cell cartridge assets of Société Bic, for USD$15m. The purchase brings with it intellectual property (IP) relating to the volume production of planar 2D fuel cells and disposable fuel-cell cartridges. Management said this is an "important step forward" in embedding fuel-cell technology in portable consumer devices.
This follows the group's announcement it is leading a five-strong consortium, including Centrica-owned (CNA) British Gas and DHL, in developing a zero-emission, light commercial vehicle. The three-year project will cost around £12.7m.
