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UK fuel cell company turns profit after 20 years

Tue, 01/15/2013 - 17:36 -- Ruth Williams

UK-based Intelligent Energy is the in Britain, and one of the few companies in the world, to make a profit from fuel cell development.

Intelligent Energy has been developing fuel cell technology to be used in cars, power stations and portable electronic devices for 20 years.

Just two years ago Intelligent Energy made a £15million loss, which it has now turned into a £7.8million profit after revenues surged in 2012 by 269%. This demonstrates the considerable growth in the fuel cell industry in recent years.

Intelligent Energy credits a joint venture with Suzuki to manufacture fuel cells for cars as enabling it to become profitable.

It is also leading a consortium to introduce zero carbon emission fuel cell electric taxis to London, is working on fuel cells for back-up power systems to replace traditional diesel generators and has a joint venture with SSE to develop fuel cell combined heat and power systems for use in the home and industry.