Intelligent Energy gets injected with $63m from Singapore

Find out what they'll use it for.

According to Bloomberg, 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," Bloomberg said.

Here's the full article.