Intelligent Energy Gets $63 Million From Singapore for Expansion
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Intelligent Energy Holdings Plc, a U.K. fuel-cell manufacturer that works with Suzuki Motor Corp., received $63 million from Singapore’s sovereign wealth fund to expand in consumer electronics.
Intelligent Energy sold about 15 million new ordinary shares to wealth fund GIC Pte at 2.50 pounds ($4.12) apiece, the company said today in an e-mailed statement. The proceeds will finance growth in both electronics and Indian power generation.