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Loughborough University spin-out Intelligent Energy has raised $30m from both existing and new investors to accelerate the commercialisation of its fuel-cell power systems.

Loughborough University spin-out Intelligent Energy has raised $30m (£17.7m) from both existing and new investors to accelerate the commercialisation of its fuel-cell power systems.

Current partners and customers include Scottish & Southern Energy, with whom the company has formed a joint venture to commercialise fuel-cell combined heat and power (CHP) systems, and the Suzuki Motor Corporation.

Intelligent Energy’s successes in recent years include the development of the world’s first hydrogen fuel-cell motorcycle and supplying the fuel-cell system to Boeing that powered the world’s first fuel-cell aircraft.

It is also leading a consortium that aims to put a fleet of fuel-cell taxis on the streets of London in the Olympic year of 2012. It also hopes to run a fleet of fuel-cell motorcycles at the same time.

The company was formed in 2001 following the acquisition of Advanced Power Sources, a company established by four Loughborough University researchers, Dr Paul Adcock, Dr Phil Mitchell, Dr Jon Moore and Tony Newbold.

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