A Loughborough-based business that specialises in clean fuel-cell power systems has received an £800,000 Grant for Business Investment (GBI) from the East Midlands Development Agency (emda), which will help it to create a significant number of new jobs.
Intelligent Energy, which is currently based at the Innovation Centre on the Loughborough University campus, is relocating to nearby premises at Holywell Park, near its current location.
The GBI from emda will help it to relocate, install a low-volume automated production line and purchase engineering test rigs, measurement equipment and IT systems to expand its business producing bespoke fuel-cell power systems for its blue-chip clients, which include Boeing, Suzuki, Scottish & Southern Energy and Airbus.
The total cost of the project is more than £8.5m and it is expected to create approximately 130 full-time equivalent jobs across the business over time, with more than 90 per cent of these being at graduate level.
Bryan Jackson, chairman of emda, said: ‘I am pleased that through the GBI we have been able to facilitate the move to Holywell Park to provide Intelligent Energy with the space and facilities that it needs to develop and grow, creating new jobs in the region and further enhancing the reputation of the east Midlands as a leader in energy technologies.’