Clean tech company Pavegen, which converts kinetic energy from footsteps into renewable electricity, has nearly reached its £750,000 target on investment platform Crowdcube.
London-based firm Pavegen uses footsteps of the public in shopping centres, airports and other public spaces to generate electricity through specific tiles. The energy can then be used to power low-voltage local applications, for instance lighting, advertisement displays or wireless systems.
Pavegen has realised over 100 projects across 30 countries and in various locations, including Heathrow Airport and Harrods. It generated a cumulative revenue of over £2.5 million.
The company has launched an investment round on Crowdcube to raise £750,000 for 4.48% equity offered and launch more projects around the world. It has so far raised £705,110 from 493 investors with 38 days to go– meaning it is likely get overfunded.
Crowdcube is the world’s leading investment crowdfunding platform, allowing people and investors to fund start-up, early stage and growth businesses through equity, debt and investment fund options.
According to latest figures, in the first months of 2015, Crowdcube had more than £24 million invested through the site, for a total amount raised of £17 million. This helped to fund 36 businesses and create thousands of jobs.
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