The British hydrogen fuel cell company Intelligent Energy (IE) has floated on the London Stock Exchange at a valuation of $1.1 billion. The firm raised $69 million in the Thursday IPO for 8.8 percent of its shares, along with $27 million from Singaporean wealth fund GIC, which now owns around 10 percent of the firm. IE will use the money to sell backup power units for cellular base stations in India, and to support the launch of its Upp personal energy generator (pictured), according to the Financial Times. Early reviews suggest one Upp hydrogen cartridge can charge a mobile device 5 times. IE, which has been developing its technology for 13 years, also plans to make fuel cells for vehicles.
Red Sox star David Ortiz stole the show at Techstars Boston Demo Day, but here are a few other highlights.
The lack of greentech hardware success stories points to a potentially missing piece of the puzzle: a Samsung-style intense focus on manufacturing.
Venture capitalist Matthew Nordan, from Venrock Capital, breaks down everything you need to know about finding funding for energy-related startups in this video.
Three greentech IPO hopefuls pulled the plug on their public market plans this month. There’s a lot that these companies have in common, and it’s not that they’re green: it’s the lack of profits and even revenues.
Battery life: It’s the bane of a mobile device, second only to spotty mobile broadband coverage in terms of annoyances. We’ve seen promising battery technology, but no major advances just yet. However, we can do so much more with our devices on a single charge.
Cleantech is dead, or maybe just laying low. After a difficult 18 months, investors in the sector are shying away or shifting their strategies to reflect reality. And the debate over what is greentech or cleantech is back. What do you think?
Do recent struggles dominating the news represent the beginning of the end for green technology? Nah, it looks like business as usual for Silicon Valley. Only one in ten start-ups ever make it, VCs like to say, and failure makes you stronger.
There’s a widespread perception that cleantech venture capital must be tanking compared with VC overall. That perception is wrong.
Plenty of late-stage financing will be available for cleantech start-ups over the next few years, but seed/Series A money is another matter.