Pavegen celebrate the launch of their first crowdfunding round on Crowdcube, the leading equity crowdfunding platform, spearheaded by an installation in the heart of the Canary Wharf District.
The clean-tech start-up, known for developing flooring technology that generates electricity from footfall, will enable members of the public to experience the 10-tile installation, powering two streetlights in the heart of the financial district. Commuters will be able to finance the future of renewable energy through Crowdcube's 6-week campaign, for as little as £10.
Utilising Crowdcube, Pavegen will harness the power of the crowd in driving the next stage of development. This investment will bring Pavegen a step closer towards commercialisation of the technology, enabling mass production and reducing the cost of the tiles to equate to standard flooring. Pavegen's potential has already been recognised by clients worldwide, now including the Canary Wharf Group. Initially introduced through the Cognicity Challenge Accelerator Programme, an installation was soon confirmed within the district.
CEO and Founder Laurence Kemball-Cook said: "With the support of Canary Wharf Group, we hope to become the 'intel inside' for energy harvesting, with Pavegen technology on scale across all high-footfall locations around the world."
CEO and Chairman of Canary Wharf Group, Sir George Iacobescu, said: "Pavegen is one of the greatest ideas, which needs to be implemented by more companies within the public space. I think it could shape the future of renewable energy generation, with an enormous scope on helping the Canary Wharf district achieve sustainability, through lighting, HVAC, and endless applications."
Since inception, the company has generated sales across the world, with over 100 projects delivered in 30 countries on every continent. Through the support of friends and family, as well as seed funding rounds and clever utilisation of investment, Laurence has managed to grow the company to a 30-stong team of engineers, designers, and innovators.
"In my opinion, Pavegen is one of the most exciting companies within the clean-technology sector today." Craig Webster, CTO Pavegen and former Co-Founder at Aveillant Ltd.
Stephen Hawking, Theoretical Physicist said, "This technology has the potential to radically change the way we source power in the future".
Luke Lang, Co-Founder of Crowdcube, said: "We're pleased the crowd has the opportunity to invest in Pavegen... it's an exciting prospect for Crowdcube and our investor community. We're seeing a growing trend towards investors looking for socially responsible investment opportunities and Pavegen's new way to harness energy from footsteps certainly fits the bill."
Pavegen's innovation has been recognised internationally, with a client list including: WWF, Schneider Electric, UNIQLO, Kia Motors, Samsung, Adidas, Coca-Cola, and London 2012 Olympics. The largest installation in Pavegen's history took place in September 2014 with a 200 tile football pitch in Rio, capturing players footsteps to power the pitch floodlights.
To invest in Pavegen, please visit crowdcube.com/pavegen. The campaign runs from Tuesday 26th May until Friday 10th July 2015, or until the investment target has been reached. Please note that only registered users may invest.
Pavegen is the invention of Laurence Kemball-Cook, 29, an industrial design engineer and graduate of Loughborough University. The CEO and founder of Pavegen developed the concept in 2009, whilst researching kinetic-off grid energy solutions in environments where low-carbon technologies like solar and wind are not practical. Pavegen tiles can be used in both indoor and outdoor locations and work best where there is high footfall such as retail and transport hubs. The technology is integrated, discreetly, into the existing environment, underfoot. Permanent installations include three schools in the UK, the entrance of a large office and an installation at Federation Square, Melbourne - to name a few. Pavegen units are also available in modular form for use at events, such as exhibitions and marketing campaigns, to demonstrate their commitment to innovation, sustainability and CSR initiatives.
Source and top image: Pavegen