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Intelligent Energy Holdings plc - Interim Management Statement(M2 PressWIRE Via Acquire Media NewsEdge) Intelligent Energy Holdings plc, the energy technology group (the "Company"), announces its first interim management statement covering the period from the start of the second half of the Company's financial year, 1 April 2014, to 18 August 2014. This follows its admittance to the standard listing segment of the Official List of the UK Financial Conduct Authority, and to trading on the London Stock Exchange's main market for listed securities, on 9 July 2014. Current trading update Revenue in the last completed quarter (Q3) of the year to date has seen an increase from the prior quarter which in turn was higher than the first quarter of the financial year. The Company's two new trading divisions, Distributed Power & Generation ("DP&G") and Consumer Electronics ("CE"), commenced trading in Q3 with anticipated initial low volumes. This follows the commencement of power management activities arising from the previously announced commercial relationships with Microqual and Ascend within DP&G and the certification of the Upp(TM) product in April 2014, for CE. Revenue within the Motive division, consisting purely of joint development activity with blue chip partners, remains in-line with Board expectations at the time of the Initial Public Offering ("IPO"). Financial position and prospects Following the IPO, the Company has a strong balance sheet and is well positioned in the short term to fund the opportunities open to it. At 18 August, the Company's consolidated cash balance stood at 98.6 million, with no debt. Distributed Power & Generation ("DP&G") Within DP&G, plans are progressing to deliver 5,000 telecom tower sites under contract for power management by the end of September 2014. The potential exists to materially exceed this target. Consumer Electronics ("CE") Discussions are ongoing in the CE business with the Company's manufacturing partners to enable the production of more than 50,000 first generation Upp(TM) devices (which allows mobile users to power USB-compatible portable electronic devices with a single Upp(TM) cartridge typically delivering up to one week of energy for smartphones), as part of the initial roll-out for this product launch. The phasing of production is currently being ramped up and discussions with major launch customers continue; this should result in the aforementioned volumes being delivered before the end of this calendar year. Motive Within Motive, joint development activity through strategic collaborative partnerships is continuing as planned. During the period covered by the IMS, this included the addition of a new Japanese automotive customer and the signature of further contracts with existing Japanese OEM and European premium car manufacturer customers. Overall, strong growth in revenue from Q3 to Q4 is expected to be delivered due to the impact of CE and DP&G. Dr Henri Winand, Chief Executive Officer, commented: "I am pleased to announce the first interim management statement of Intelligent Energy as a listed company, as we continue to commercialise our technology across our three business divisions. Since the IPO, the growth opportunities available to the Company have expanded further. We remain focused on both delivering the existing milestones in DP&G and CE and developing our Motive business. As a result, we remain confident in the outlook for the business". Date for the announcement of preliminary year-end results The Company expects to issue its preliminary results for the year ending 30 September 2014, on Monday 1 December 2014. Analyst research is currently expected to be published in September 2014. Enquiries: Intelligent Energy Holdings plc Dr. Mark Lawson-Statham Director of Corporate Finance and Investor Relations Phone: +44 1509 271271+44 1509 271271 Powerscourt Giles Sanderson / Matthew Fletcher / Rob Greening Phone: +44 20 7250 1446+44 20 7250 1446 Notes to Editors Intelligent Energy is an energy technology group which has developed advanced, power dense hydrogen fuel cell technologies which provide an efficient and clean source of power generation. The Company's intellectual property and expertise is based around its proprietary fuel cell technologies, which are the product of over 25 years of research and development. Intelligent Energy has developed both air cooled ("AC") and evaporatively cooled ("EC") fuel cell stacks within its differentiated fuel cell architecture. The Company's power density figures currently exceed published data for competitor technologies in their respective classes. Intelligent Energy is working towards its aim of embedding and using its technologies in mass market products (either of the Company or of its partners) to meet regulatory/legislative requirements, solve existing problems economically and/or create a new category of products and new product opportunities. Intelligent Energy is collaborating with large, blue-chip original equipment manufacturers ("OEMs") to develop and commercialise its technologies. www.intelligent-energy.com Sukul M. Bagai Vice President | Racepoint Global T: +44 20 8811 2474+44 20 8811 2474 | M: +44 785 904 3897+44 785 904 3897 E: [email protected] @sukulb | uk.linkedin.com/in/sukulbagaiCallSend SMSAdd to SkypeYou'll need Skype CreditFree via Skype . (c) 2014 M2 COMMUNICATIONS |