Energetix founder Hutchings to leave
ADRIAN Hutchings, the founder, former chief executive and current deputy chairman of energy-saving company Energetix is to step down.
Mr Hutchings, who owns nearly 9% of the AIM company’s shares will leave the board now, but remain an employee until the end of October.
He founded Energetix in 1998 and has been instrumental in overseeing the technical development of the company’s flagship product, the Flow boiler: a highly efficient, compact, lightweight, wall mounted microCHP appliance for the home.
In a statement the company said: “With the technical development of the product nearing its conclusion Adrian has decided to pursue other interests outside the company.”
Mr Hutchings said: “”I am very proud of my role in developing the microCHP technology underpinning Flow Energy and the transformation of the business from the development stage into the commercialisation phase.
“As I stated in the 2011 report & accounts my skill sets are in technology development and with the Energetix team now focussed on building a product delivery business I now wish to concentrate my technology development expertise outside of the group’s current interests.
“I remain confident that Energetix shares have considerable potential, and I am a great believer in the Flow boiler technology and the opportunity that Energetix has to become a major supplier of innovative energy solutions in the UK.”
Executive chair Clare Spottiswoode, added: “Adrian created the Company and his technical knowledge has been fundamental in establishing Energetix as a leading innovator in the microCHP arena.
“I would like to thank Adrian for his tireless work in developing and improving the Flow boiler and it is to his credit that we have an exciting product which will revolutionise the UK energy market.”
Mr Hutchings was succeeded as chief executive of Capenhurst-based Energetix last September by former Dyson chief operating officer Peter Richardson,
