Intelligent Energy Raises More Than $17M

17 April 2007

Intelligent Energy, the developer of the ENV fuel cell motorcycle (earlier post) and contributors to the Boeing fuel cell airplane (earlier post), has raised more than US$17 million in a recently-completed round of fundraising.

The fundraising comprised a number of private placements, followed by an open offer to all existing shareholders. Subscribers for new ordinary shares included Credit Suisse Securities (Europe) Limited, Black River Commodity Clean Energy Investment Fund LLC, Black River Global Equity Fund Limited, Meditor Capital Management Limited and Evolution Placements Corporation.