BIC sells portable fuel cell technology to Intelligent Energy for USD 15m

February 27 (SeeNews) – French stationery and consumer products maker BIC (EPA:BB) said on Friday it had signed a binding agreement with UK-based low-carbon fuel cell specialist Intelligent Energy Holding (LON:IEH) to sell its portable fuel cell technology for USD 15 million (EUR 13.4m).

The deal concerns all assets, including patents and related technology and know-how. Closing is expected in end-March 2015.

The transaction is in line with BIC’s plans to cut investment in portable fuel cell research and development (R&D) resources announced in November last year.

(USD 1 = EUR 0.892)

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