Research

Capitalising on a bright idea continued...

Spin-out company Advanced Power Sources (APS) Ltd was formed, with the University retaining a stake in the company.

Paul found this gave his work a new, commercially-driven focus and the intellectual property and expertise at APS caught the eye of Intelligent Energy’s Dr Harry Bradbury. Negotiations began, with Dr Bradbury introducing a commercial attitude to business negotiations not previously experienced by some of the academics.

“It was a shock for the academics – business-focused people do things in a different way. Academics put a lot of value on the Intellectual Property but so much money has to go into developing that IP before you have a marketable product,” said Paul.

Intelligent Energy secured a worldwide licence to exploit both APS and the University group’s fuel cell related know-how, in addition to recruiting key staff. Dr Bradbury became CEO of Intelligent Energy bringing with him valuable investment capital contacts.

Paul found that expertise in all areas – business, financial and fuel cell technology as well as academic – was as crucial to the company as the injections of cash. “The University’s Intellectual Property manager helped with the patents and negotiations and was very supportive of Intelligent Energy. The University’s Innovation Centre also provided us with a smooth transition,” he said.

The company has grown significantly; employing 180 people worldwide, and is a major player in the global low carbon energy industry. Intelligent Energy has developed the first purpose-built hydrogen fuel cell motorbike and provided the system to Boeing, for the first fuel cell powered manned aircraft. The company is working with Airbus and has formed a joint venture company with Scottish & Southern Energy Plc.

Intelligent Energy is also leading a Technology Strategy Board part-funded programme, with partners Lotus Engineering, LTI Vehicles and TRW Conekt to introduce fuel cell hybrid Black Cabs to London in time for 2012. All exciting, challenging and rewarding work. If he could turn back the clock, would Paul make the same leap from academia to private industry? Paul’s answer is unequivocal and without hesitation:

“Absolutely. It’s been a rollercoaster and extremely challenging but it is fulfilling to see concepts turning into commercially viable products, whilst retaining valuable and productive links with academia.”