The fuel cell company, headed by a former Rolls Royce corporate venturing executive achieves a $500m valuation after securing a joint venture with Suzuki.
UK-based fuel cell company Intelligent Energy has raised $35m at a $500m valuation.
The latest deal takes the company to £120m ($191.4m) raised in its history. Backers of the latest round included fund managers F&C, which led the round, Artemis and Altima. Intelligent Energy has previously said it would consider a flotation when market conditions are right.
The company has been led since 2006 by chief executive Henri Winand, who was formerly at Rolls Royce’s corporate venturing unit.
The…
