Intelligent Energy Signs Statement of Intent with IndianOil

  Intelligent Energy Signs Statement of Intent with IndianOil

India’s largest oil & gas company to explore use of hydrogen for various fuel
cell power systems in the Indian market

Business Wire

LOUGHBOROUGH, England & NEW DELHI -- October 23, 2012

Intelligent Energy, the global power technology company and Indian Oil
Corporation Limited (IndianOil), India’s largest oil & gas company have signed
a Statement of Intent to initiate demonstration projects and work
collaboratively to develop the use of hydrogen in a range of fuel cell power
systems in the Indian market. The Statement of Intent was signed by Dr. S.K.
Sarangi, Executive Director, Alternate Energy, IndianOil and Dr. Henri Winand,
CEO, Intelligent Energy in the presence of Mr. R.S. Butola, Chairman,
IndianOil, at the PETROTECH-2012 event held in New Delhi, India.

Seated left to right: Dr. S.K. Sarangi, Executive Director-Alternative Energy,
IndianOil; Dr. Henri ...

Seated left to right: Dr. S.K. Sarangi, Executive Director-Alternative Energy,
IndianOil; Dr. Henri Winand, CEO, Intelligent Energy Standing left to right:
Dr. R.K. Malhotra, Director-R&D and Board Member, IndianOil; Mr. R.S. Butola,
Chairman, IndianOil; Mr. Arun Nemani, Vice President-India, Intelligent Energy
Agreement signed on 16-Oct-2012 at PETROTECH-2012 in New Delhi, India (Photo:
Business Wire)

Under the agreement, IndianOil and Intelligent Energy will prepare a
multi-phased programme to demonstrate and eventually deploy hydrogen-based
power systems applications. The collaboration will demonstrate the most
appropriate applications for fuel cells using hydrogen generated by IndianOil.
This will include exploring applications such as material handling, telecom
towers and motive applications, with direct relevance to the growing need in
India to adopt low-carbon and high air-quality power system technologies.

Dr. R. K. Malhotra, Director for R&D at Indian Oil Corporation Limited said:
“IndianOil is at the forefront of exploring new technology innovations to
support the burgeoning energy needs of the Indian subcontinent. We expect this
relationship to be taken forward for demonstration of Hydrogen for various
Fuel Cell applications”.

Dr. Henri Winand, CEO, Intelligent Energy, said: “Intelligent Energy and
IndianOil share a similar vision and commitment to driving innovation in
sustainable and more efficient power systems. We are very enthusiastic about
the potential of this collaboration with India’s largest oil & gas company to
address the very large market opportunities afforded by India’s continued
economic growth.”

“Intelligent Energy provides a range of technologies that are key transition
assets in the move to a more diverse range of energy sources, which can
co-exist alongside hydrocarbons for the provision of energy in the 21^st
century,” Dr. Winand added.

IndianOil’s exploration of renewable energy is aimed not only towards the
diversification of its energy portfolio but also to alleviate energy poverty
and improve energy access at the ‘base of the pyramid’ in India. To find out
more about IndianOil’s sustainability initiatives, please visit
http://www.iocl.com/Aboutus/sustainability.aspx.

About Indian Oil Corporation Limited

IndianOilis India's flagship national oil company, with business interests
that straddles the entire hydrocarbon value chain – from refining, pipeline
transportation and marketing of petroleum products to exploration & production
of crude oil & gas as well as marketing of natural gas and petrochemicals. It
is the highest ranked Indian corporate in the prestigious Fortune 'Global 500'
listing, ranked at the 83rd position in the year 2012. IndianOil and its
subsidiaries have a dominant share of the petroleum products market, national
refining capacity and downstream sector pipelines capacity in India. IndianOil
and its subsidiaries own and operate 10 of India's 22 refineries has a
formidable network of over 37,000 customer touch-points dotting the landscape,
across urban and rural India besides having a portfolio of powerful energy
brands like Indane LPGas, SERVO lubricants, XtraPremium petrol, XtraMile
diesel and PROPEL petrochemicals

For more information on IndianOil Corporation Limited, please visit
www.iocl.com

About Intelligent Energy

Intelligent Energy is a leading power technology company, with a globally
scalable business model. The company enables partners and clients to
commercialise its proprietary fuel cell technology for the Motive, Stationary
Power and Consumer Electronics sectors.

Intelligent Energy’s proprietary fuel cell systems are powerful, compact and
simple to construct, which drives its resource efficient strategy to ‘design
once, deploy many times’. This approach enables partners to accelerate and
de-risk their go-to-market plans.

In early 2012, Intelligent Energy and the Suzuki Motor Corporation formed a
joint venture company - Smile Fuel Cell System Corporation, to develop and
manufacture air-cooled fuel cell systems for zero emission vehicles and a
range of other industry sectors. Intelligent Energy was also the lead partner
in a consortium, delivering a fleet of zero emission Fuel Cell Electric Cabs
onto London’s roads in 2012.

Intelligent Energy was born out of Loughborough University and was established
in 2001. It now employs over 250 staff at its headquarters in Loughborough
with offices situated in London, California, India and Japan.

In addition to visiting the Intelligent Energy website, more information is
available via Twitter, YouTube, Flickr, Tumblr and LinkedIn.

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Contact:

Dr. Jon Moore
Director of Communications, Intelligent Energy
jon.moore@intelligent-energy.com
+44 15092 71271
or
Sukul M. Bagai
Racepoint Group for Intelligent Energy
sukul.bagai@racepointgroup.com
+44 20 8811 2474