Wednesday, July 2, 2008

Fuel cell funding: intelligent energy raises $13.6M


Another hydrogen-based fuel cell company has brought in cash, and unlike the physics-defying BlackLight, this one’s tech is already getting tested in some big deals. Intelligent Energy said this morning that it has raised $13.6 million to help it get its hydrogen fuel cells closer to commercialization.

The UK-based company has a lot of projects in the works, even if it’s not delivering scaled-up sales yet. Intelligent says it’s working on a motorcycle with Suzuki; a delivery vehicle (called the H2Origin) with PSA Peugeot Citroën; an airplane with Boeing Research & Technology Europe; home power systems with energy company Scottish & Southern Energy, and taxis with the UK’s Technology Strategy Board.

Like most hydrogen fuel cells, Intelligent Energy’s technology uses hydrogen and air to produce power. Fuel cells can be more efficient and less toxic compared to traditional combustion engines and batteries. And they also don’t have to be plugged into the power grid, so they are more mobile and in some cases, cheaper. Intelligent Energy says its technology is different than competitors in that it has more power density, and is able to fully function at very low temperatures (good for running vehicles in cold locales).

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