Up to 200 jobs to go at Loughborough green energy developer

Up to 200 employees at a Loughborough green energy developer are set to lose their jobs as part of a "material restructuring" of its operations, a recent news report in the local media has been able to suggest.

Intelligent Energy, which develops hydrogen powered fuel cells, last month revealed that major funding plans had fallen through, causing its share price to plunge dramatically.

In a statement today (4 April 2016), the business said it intends to realign its focus to concentrate on "the most immediate and material market opportunities".

It added the restructuring proposals also include the simplification of the organisational structure, the reduction of the number of jobs across several locations in which the company operates, and the closure of some offices.

A consultation is now underway with the 200 staff expected to be affected by the decision.

A statement from Intelligent Energy said: "The intention of the proposed restructuring is to focus the business on existing tangible commercial opportunities whilst preserving the company’s core capability to provide best of class, fuel cell based, power solutions to customers in its target markets."

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