Member Article

UK power technology company secure Japanese operations

Loughborough University spin-out Intelligent Energy, have been awarded funding from the Japan External Trade Organisation.

The power technology company is one of only ten global companies to have met strict JETRO funding criteria, as the announcement was made at the British Embassy in Tokyo, with David Cameron and the UKTI VVIP trade delegation.

This is part of the ‘New Growth Strategy,’ from the Japanese Government, which aims to promote establishment of high value-added business by global companies within Japan.

JETRO has identified Intelligent Energy for its proven technology and business attributes, following the firm’s recent joint venture with Suzuki Motor Corporation to develop power technology for a range of mass-manufacture products.

Making the announcement to the Prime Minister and UKTI delegation at the British Embassy in Tokyo, Phil Caldwell, Intelligent Energy’s Director of Corporate Development, commented: “This latest stage in Intelligent Energy’s expansion shows our continued rate of development from a British fuel cell technology company to a global power business.

“We’re proud to have received recognition from both UK and Japanese Governments, underlining our ability to be a highly valuable technology partner to the world’s leading companies.

“Furthermore, it highlights the importance of our technology development as a major stimulant for growth in both the Japanese and UK economies.”

IE Japan will be led by Masataka Yamakawa, who takes the position of representative director, and is also director of Smile FC System Corporation, the 50:50 joint venture company formed with Suzuki.

Mr Yamakawa said: “The formation of IE Japan enables us to further increase the pace of commercialisation of our core power technology across motive, stationary power and consumer electronics markets.

“Our aim is to build on the solid foundations we have already established, such as our ongoing successes with Suzuki, and to repeat these achievements with other partners and customers in Japan.”

Professor Steve Rothberg, Loughborough University’s Pro Vice Chancellor (Enterprise), added: “The formation of IE Japan marks yet another milestone in Intelligent Energy’s unprecedented success.

“We’re proud of the fact that Intelligent Energy remains so close to its origins, with the founding academics still at the heart of the company, a 225-strong workforce based on our Science and Enterprise Park and research collaborations ongoing.”

This was posted in Bdaily's Members' News section by Tom Keighley .