What was the impact?
The spin-out company Advanced Power Sources (APS) Ltd was founded in 1995 by Dr Paul Adcock, Dr Phil Mitchell, Dr Jon Moore and Anthony Newbold, and was the first company in the UK formed specifically to address the development and commercialisation of PEM fuel cells.
Intelligent Energy was established in 2001 and acquired APS Ltd, together with its personnel and fuel cell-related intellectual property that originated from research conducted by both APS and Loughborough University into PEM fuel cell technology. This triggered investment and enabled the company to grow its business activities. In 2005, it launched the ENV, the world’s first purpose-built fuel cell motorbike which gained the company recognition as a Technology Pioneer by the World Economic Forum in 2006.
Intelligent Energy has partnered with a number of leading companies to develop their fuel cell power systems. These have led to the inaugural flight of the first fuel cell powered aircraft in 2008 in collaboration with Boeing; the world’s first fuel cell motorbike approved for manufacture and sale with Suzuki, with whom it has formed a joint venture in Japan, and the production of a fleet of zero emission London fuel cell taxis that were used by VIPs during the 2012 Olympics.
The company was ranked 27th in The Times 100 Fastest Growing Technology Companies 2013 and 15th in the Deloitte 2013 Fast 50 companies driven by technology innovation, and in 2014 it was voted the Most Successful Company by the UK Science Park Association. Intelligent Energy floated on the main London Stock Exchange in July 2014 and employs over 350 people across the UK, US, Japan, Singapore and India.