Loughborough spin-out Intelligent Energy could be heading for its initial public offering.
Intelligent Energy, a UK-based manufacturer of electric car fuel cells, could be heading for an initial public offering (IPO).
Speculation around the firm stems from a report by news provider Sky News, which notes that the Loughborough University spin-out has appointed banking firms Barclays and Canaccord Financial ahead of an IPO pencilled in for June.
The development comes shortly after a deal with India-based Ascend Telecom Infrastructure to supply hydrogen fuel cells to its network of 425,000 telecom towers. IE also raised $51m last year from private investors, bringing its total venture support to $141m.
A spokesperson for the company told Sky News: “We are a private company and with an extensive shareholder base, ranging from institutional investors to private equity [and] venture capital investors, to private individuals. At some point it is reasonable for investors to expect a return on their investment. An IPO is potentially one such route and the board continues to review its options.”
