British power technology firm awarded funding from Japan External Trade Organisation (JETRO); outlines commitment to region and positive economic impact to UK
Tokyo, Japan, 11th April, 2012 – Intelligent Energy, the global power technology company, has today announced a further commitment to expanding its international trade ties with the formation of IE Japan Ltd, an undertaking which has been acknowledged by the Japanese Government and JETRO initiative. The announcement was made at the British Embassy in Tokyo, where Intelligent Energy has joined David Cameron, the British Prime Minister, and a UKTI VVIP trade delegation, to promote closer trading relationships between the UK and Japan.
Intelligent Energy is one of just ten global companies to have met strict JETRO funding criteria. This is part of the ‘New Growth Strategy’, a Japanese Government initiative aimed at promoting the establishment of high value-added businesses by global companies within Japan. JETRO has strategically identified Intelligent Energy as having the proven technology and business attributes that will bring significant and sustained positive impact to the Japanese economy. This recognition follows the recent creation of Intelligent Energy’s Joint Venture with the 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 assumes the position of Representative Director. Yamakawa is also a Director of Smile FC System Corporation, the 50:50 joint venture company formed with Suzuki Motor Corporation. Intelligent Energy has a proven track record of successfully partnering with Japanese firms over the past 10 years, in particular with The Suzuki Motor Corporation, with whom it has co-developed the Crosscage motorcycle and whole vehicle type-approved Suzuki Burgman Fuel Cell Scooter.
“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,” explained Yamakawa. “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.”
About Intelligent Energy
Intelligent Energy is a leading power technology company with a globally scalable business, operating in the stationary power, motive and consumer electronics sectors. Our proprietary and highly efficient power cores are designed to be integrated into high volume, mass market products and have received commercial approval from significant global brands.
For more information, please visit www.intelligent-energy.com