Intelligent Energy is moving from its current fuel cell R&D facility at the Innovation Centre on the Loughborough University campus, to larger premises at nearby Holywell Park. The move is expected to generate as many as 130, mostly graduate-level, jobs in the region.
The grant from emda will help Intelligent Energy equip the new facilities with engineering test rigs, measurement equipment, and IT systems for its fuel cell manufacturing operation.
‘The move to Holywell Park will allow us to better serve our blue chip business customers and partners, and up the tempo of our commercial activities significantly as a result,’ says Dr Henri Winand, Chief Executive of Intelligent Energy.
The past year has seen Intelligent Energy demonstrate continued success working in partnership with leading companies such as Suzuki Motor Corporation and Scottish & Southern Energy, while attracting new customers for its fuel cell technology, such as Airbus.
Despite the generally very difficult economic circumstances in 2009, Intelligent Energy raised £18.4 million (US$30 million) in a private ‘up round’ of growth capital fundraising in July. Intelligent Energy also announced the appointment of Leonard Devanna as its new Executive Vice President for Emerging Markets, as part of its expansion plans into fuel cell end-users.
‘We have been very pleased with the growth, commercial progress, and technological achievements made by Intelligent Energy in 2009. This grant from emda is a great endorsement of the company from our own regional development agency,’ says Winand. ‘Intelligent Energy is an international business actively working with some of the world’s leading companies to bring its clean power systems to market. The business started up as a spin-out from Loughborough University and, with the help of emda, we are delighted to strengthen our bond with Leicestershire.’