Intelligent Energy’s flagship project in India has been selected as the Greatest Technological Breakthrough of the Year and Technology of the Year - selected from the winners of all the categories.
Today’s BusinessGreen Awards honoured energy technology company Intelligent Energy (LSE: IEH; ADR: INGYY) with the Breakthrough of the Year Award and Technology of the Year Award at a ceremony in Snap Studios in East London, for its £1.2bn deal to deploy hydrogen fuel cell technology to telecom towers in India.
Intelligent Energy struck a deal to supply power management services to 27,400 telecom towers in India. Overall, the telecom infrastructure industry currently burns more than 3 billion litres of diesel to run because of grid instability in the country.
Deals entered into the Breakthrough of the Year Award programme were judged by a panel of more than 10 leading stakeholders from the business and energy space including Head of Energy and Climate Change and the CBI, Michelle Hubert and Chair of the Environmental Audit Committee Associate, Huw Irranca-Davies, MP.
The billion pound plus breakthrough deal represents a major milestone in hydrogen fuel cell development and is expected to have a transformative impact on India’s energy market by creating high efficiencies and cost savings alongside reducing emissions. The deal marks the first step towards the positive transformation of the Indian power grid, previously criticised for stifling India’s economic growth due to persistent unreliability.
“Over 70% of India’s circa 425,000 telecom towers experience power outages of approximately eight hours per day leaving nearly half of the country’s 935 million mobile phone users frequently disconnected for extended periods,” said Henri Winand, CEO of Intelligent Energy Holdings. “Our power management solution and, ultimately, our hydrogen fuel cells can provide an efficient, clean and economical solution to keeping India connected.”
Collecting the trophies for the Awards, Dr Mark Lawson-Statham, Director of Corporate Finance at Intelligent Energy said: “This is a huge honour for the entire team at Intelligent Energy and Essential Energy, our wholly owned subsidiary in India. We are delighted to be celebrated among some of the greatest clean energy companies in the UK, doing some extremely innovative work and producing some outstanding technologies. We are also extremely proud of the work that is done at Intelligent Energy and delighted for this recognition as we continue to grow our business. The awards come just a couple of weeks after Intelligent Energy was announced as a major contributor to a package of £9bn of trade deals agreed during Prime Minister Narendra Modi’s recent trade visit UK tour. The company presented a letter of commitment to the Indian PM reiterating and consolidating the deal.”
Intelligent Energy beat shortlisted NVP Energy and Solarcentury to the top prize.
The inaugural BusinessGreen Technology Awards celebrates the most exciting and innovative clean technologies in the UK today. Other winners included Unilever and Imperial College London.
Entries, solely from clean tech firms with a presence in the UK, were evaluated on how they meet three key criteria; innovation, scalability and demonstrable success. The entries were required to detail how the technologies offer a unique and innovative solution to an environmental challenge; have the potential to reach a significant market and must be able to demonstrate quantifiable benefits. The BusinessGreen Technology Awards aims to reveal some of the country’s most cutting-edge green technologies, providing the clean tech sector the forum to show off its best and brightest innovations.