Welcome!

Agile Computing Authors: Zakia Bouachraoui, Yeshim Deniz, Elizabeth White, Liz McMillan, Pat Romanski

News Feed Item

Intelligent Energy and GIC: GIC invests $63* million in Intelligent Energy

Intelligent Energy Holdings plc (“Intelligent Energy” or “the Company”), the international power technology company, and GIC, Singapore's sovereign wealth fund, jointly announce that GIC has invested approximately $63* million in the Company.

The investment takes the form of a new issue of 15,129,468 Ordinary Shares to GIC, representing 10 per cent. of the Company’s enlarged issued ordinary share capital immediately following the placing of shares to GIC, at a subscription price of £2.50 per Ordinary Share.

GIC is a highly regarded sovereign wealth fund that manages Singapore's foreign reserves. It aims to achieve good long-term returns above global inflation over a 20-year investment horizon. It is one of the largest investment management organisations in the world, investing well over US$100 billion in a diverse range of assets – from equities to fixed income, to real estate to private equity – across more than 40 countries.

Whilst good progress has been made on the Company’s recent strategic priorities of the commercial launches of the consumer electronics division, with its attendant global opportunities, and of the stationary power division, initially in India, the Board very much welcomes the additional strategic and financing options that are anticipated to be available to the Company as a result of GIC’s investment, including:

  • the opportunity to seek to accelerate progress in the Company’s newly launched divisions, with the intent of achieving a positive operating cashflow at an earlier date;
  • greater flexibility to execute the business plan whilst pursuing routes for the realisation of shareholder value.

Commenting, Paul Heiden, Chairman of Intelligent Energy, said:

“GIC’s long-term investment perspective and global presence, with particular domain knowledge of the Asian market in which the Company’s Distributed Power & Generation (DP&G) division has launched, means that the Board was pleased to recommend to shareholders this investment from a new cornerstone investor.”

Dr. Henri Winand, Chief Executive Officer of Intelligent Energy, commented:

“The Board of the Company believes that GIC will be a strong and supportive shareholder in the Company in the years to come, and the additional capital will increase our strategic and financing options.”

Jason Triplitt, Head, European Equities, GIC Asset Management Pte Ltd, said:

“GIC sees long-term value in Intelligent Energy’s technology being deployed across a range of markets and applications with high quality partners. We look to benefit from the fruition of years of business and technology development that has led to Intelligent Energy’s ability to develop fuel cells ready for mass-market deployment."

Andrew Davidson, Managing Partner of Parva Capital, commented:

“We are delighted to have worked with Intelligent Energy on arranging this significant investment from this prestigious investor, building on our six year advisory relationship with the Company”.

* at exchange rate of $1.66: £1

About Intelligent Energy

Intelligent Energy develops efficient and clean energy technology for the global consumer electronics, automotive and stationary power markets – from compact energy packs for mobile devices, to powertrains for zero-emission vehicles, and stationary power units for the always-on infrastructure.

Our advanced technology architecture is used by international companies to create differentiated, cost-efficient fuel cell power systems for mass market applications. It enables Intelligent Energy and our industry partners to solve the challenges of continuous power and productivity, by creating convenient everyday energy solutions to power your life.

Intelligent Energy’s headquarters and principal facility is located at Loughborough in the UK Midlands region.

More information on Intelligent Energy is available at WordPress, Twitter, YouTube and LinkedIn.

About GIC

GIC is among the world’s largest fund management companies. It was established in 1981 to manage Singapore’s foreign reserves. GIC strives to achieve good long-term returns on assets under its management, so as to preserve and enhance Singapore’s reserves. Since its inception, GIC has grown from managing a few billion dollars to well above US$100 billion today. GIC’s investment framework capitalises on its strengths which include the ability to take a long-term investment perspective, a global presence, capabilities to invest in cross-asset opportunities, and a skilled and experienced team. It has investments across 40 countries and in assets such as equities, fixed income, real estate and private equity. GIC has been investing in emerging markets for over twenty years. GIC is headquartered in Singapore with a network of nine offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.