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Powervault

Early Stage Startup





Tagline

The UK’s first simple and affordable home energy storage system



Elevator Pitch

Powervault is the UK's first simple and affordable home energy storage system. We have developed and are selling a home energy storage device, which our calculations estimate can lower electricity bills by up to 15%. The product is an integrated battery and control system (for which we have patents pending). The product stores ‘free’ electricity generated by solar panels during the day, then releases the stored energy during the evening when household demand peaks.

Some experts foresee an essentially quasi-infinite demand for energy storage, if the energy density and the price are good enough. This market confidence was emphasised when Powervault became the world's fastest cleantech crowdfunding campaign in September 2014, securing £150k eight hours after launching to the public, and for a second time in April when Powervault raised £700k on the investment platform Crowdcube in just three and a half days.

Product

Powervault aims to become the leading UK supplier of home energy storage solutions. Its patent pending product is a complete system in a box, including batteries, charger, inverter and control unit, which can be installed by an electrician in an hour. It is compatible with all solar PV systems, and requires no extra equipment or significant rewiring of the home. By contrast, many of our competitors, are only selling a battery-based partial solution rather than complete home storage systems. They require spending on additional components, are more complicated to install, and are not compatible with all solar systems.



Why we are ecofriendly

Powervault's mission is to enable customers to use green and inexpensive power when they need it, whilst also reducing peak grid electricity demand and carbon emissions. Powervault can make a significant contribution to reducing customer carbon footprints and was assessed by the National Physical Laboratory in 2014. They confirmed that the unit worked and estimated that each unit reduced CO2 emissions by 0.3 tonnes CO2 annually. The product reduces carbon emissions directly by storing zero carbon energy and releasing it at peak times when carbon emissions are higher. Indirectly, it supports the roll out of renewable energy by making the grid more resilient to its deployment.

Latest News

In April Powervault secured £700,000 in a second Crowdfunding round which closed in just 3 days 10 hours and 37 minutes. Powervault is using this money to reduce product costs, introduce a lithium ion version of the product and expand its sales channels. Powervault recently completed the outsourcing of its manufacturing operations.

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Version History

2015-09-19 20:00:01 - changed capitalraised to 'Powervault was founded by Sustainable Venture Development Partners in 2012. Powervault secured £150,000 in September...'

2015-09-19 19:59:41 - changed fundraising to 'Powervault plans to seek further investment in 2016.'

2015-09-19 19:58:42 - changed latestnews to 'In April Powervault secured £700,000 in a second Crowdfunding round which closed in just 3 days 10 hours and 37...'

2015-09-19 19:55:19 - changed pitch to 'Powervault is the UK's first simple and affordable home energy storage system. We have developed and are selling a...'

2015-09-19 19:54:47 - changed headquarter to 'London'



Website


Revenues

2014:
€214000

Fundraising

Powervault plans to seek further investment in 2016.

Capital Raised

Powervault was founded by Sustainable Venture Development Partners in 2012.
Powervault secured £150,000 in September 2014 in the worlds' fastest cleantech crowdfunding campaign on Crowdcube.
Powervault secured £700,000 in April 2015 in a further Crowdcube crowdfunding campaign, including £200,000 from the London Co-Investment Fund and £100,000 from Future matters.

Grants Raised

Powervault has secured £280,000 of grant funding from a range of impressive organisations including Climate-KIC, Innovate UK, Nesta, the Prince's Trust and the Royal Bank of Scotland Innovation Gateway.

Employees

6

Investors

Sustainable Venture Development Partners
London Co-investment Fund
Future Matters
The "Crowd" including many angel investors

Customers

Powervault has sold its product through many solar installer partners, including Greenman Solar who were our first solar installer.




Awards

Regional finalist in the Shell Springboard competition
Finalist in the Nesta Dynamic Demand Challenge
RBS Innovation Gateway prize winner


Country of Origin

United Kingdom

Founded

2012

Twitter

@power_vault


Team

Joe Warren - Managing Director
Charlie Vey - Business Development Manager
Stoyan Monev - Electronic Engineer
Dan Petry - Embedded Software Developer
Jess Williams - Analyst

Contact Person

Charlie Vey

Headquarter

London