Investors & Partners

Invest in Powervault

Powervault is leading the way in the development of an exciting new mass market IoT product, offering the most practical and affordable system to the UK market.

Powervault’s mission is to help home owners in the UK cut energy costs, increase energy security and reduce carbon emissions. Working alongside a range of partners, including up and coming utility, Tonik, UK Power Networks, Nissan and Renault. Powervault plans to help pioneer a cheaper, greener way to store and use electricity in the UK. These partnerships are exploring how domestic consumers can not only gain access to cheaper, off-peak electricity rates but can also receive payments for smart grid based services.

The emerging home energy storage market is being driven by key trends:

  • Rapid growth of solar panels subsidised by Feed-in tariffs. There are already 900,000 on domestic roofs and the figure is expected to reach 1 million by the end of February 2016, which is when the UK Government’s Feed-in tariff will be cut by 65%.
  • Rapid fall in the price of batteries. The cost of Lithium-ion batteries has halved in a year and, according to Deutsche Bank, is likely to fall by 20%-30% a year up to 2020 (1).
  • Rising electricity prices; up 41% from 2007 to 2013 (2).

The Government says that energy storage is a game-changing technology, which could save the UK £8bn/year as part of a “smart power revolution”.

Powervault was founded in 2012 by Sustainable Venture Development Partners and continues to receive its support. Powervault has won several awards and received over £285,000 in grant and prize funding from organisations including Royal Bank of Scotland, Nesta, InnovateUK and ClimateKIC. Crowdfunding campaigns have raised a total £900,000 from consumers, angel investors and venture capitalists.

Powervault’s first Crowdcube campaign in 2014 raised £150,000 of seed funding in eight hours – a world record. A second campaign in 2015 took just three and a-half days to reach its £700,000 target, including £200,000 from the London Co-Investment Fund and £100,000 from Future Matters.

Our business is at an exciting tipping point. We have a revenue run rate of over £1m and our product category is rapidly expanding in the UK. We plan to dominate the home energy storage sector by continuing to deliver a market leading return on investment for our customers. We have the team and the technology to implement our plan. We are working with four utilities, with a combined domestic customer base of over 1.1m homes, and we are running a trial with UK Power Networks who maintain the electricity network for over 8m homes in the South East.

Powervault requires £2.5m to reach break-even. We intend to raise £2.5m-£5m in tranched investment from a combination of crowdfunding, HNW and strategic institutional investors, with whom we are in discussions. The investment qualifies for EIS relief.

  • Position for scaling by signing  deals with utilities, large partners and those with international reach.
  • Reduce cost further by incorporating innovations like second life batteries
  • Increase value by implementing “smart grid” features such as time of use tariffs and “frequency response” revenues

If you are interested in becoming a Powervault investor please fill in the form, below.

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Our partners

Powervault works with a number of partners as we strive to achieve our vision of increasing decentralised energy. Our partners contribute in a variety of ways from testing and refining of individual parts to aesthetic designs and UX streamlining.

Suppliers

Powervault aims to work in partnership with its suppliers to deliver great value, high quality, electricity storage products. We work with suppliers of different battery chemistries, metal work, cabling, PCBs and inverter/chargers. We always welcome new suppliers who think that they can help us to achieve our business aims. If you are interested to be a Powervault supplier please see Powervault’s Purchasing Conditions and contact us at: contact@powervault.co.uk.

Investment milestones

September 2016

Sign a contract with UK Power Networks to install 60 electricity storage products (inc. 30 Powervaults) to trial and test the effect(s) aggregated domestic storage has on the local electricity network

July 2016

Receive the first contract for a NEA-funded trial of Powervault in 25 fuel poor homes in Cheshire East

June 2016

Close a £1.52m equity funding round via Crowdcube, raising over 200% of the funding target

June 2016

Announce distributor partnership with Green Acorn Energy

May 2016

Announce partnership with Entu's Job Worth Doing who are able to install Powervault nationally

April 2016

Launch Lithium-ion Powervault, reduce cost of base unit and announce key "smart power" partnerships

November 2015

Win BusinessGreen 'Solar Innovation of the Year' & BusinessGreen 'Innovator of the Year - Company'

October 2015

First international sale delivered to Australia

September 2015

Launch sales and customer service department

June 2015

Outsourced manufacturing to a professional electronics firm in Luton, UK

April 2015

Raised £900,000 through Crowdcube

February 2015

£70,456 InnovateUK grant secured to study second-life batteries

September 2014

Closed the world's fastest cleantech crowd funding campaign: raised £150,000 on Crowdcube within eight hours of launch

September 2014

First sale made to an installer (Greenman Solar) and first Powervault installed in a customer's home

September 2014

Powervault named Finalist in RBS Innovation Gateway competition

May 2014

10 "Beta" Powervault models manufactured

April 2014

Safety testing and CE Marking complete

March 2014

Powervault selected as Finalist for Shell Springboard

February 2014

Powervault win €50,000 from Climate KIC competition

January 2014

"Alpha" Powervault models manufactured

January 2014

Formed strategic partnership with Greenman Solar - a solar installer

November 2013

£85,000 Technology Strategy Board "Proof-of-Concept" Grant secured (20 unit field trial)

October 2013

Powervault selected as NESTA challenge finalist

May 2013

£25,000 Technology Strategy Board Feasibility Study Grant (battery characterisation)

March 2013

Patent Applications submitted

March 2013

SEIS Advance Assurance received

February 2013

Finalist – Cleantech Innovate Awards

January 2013

Prototype Testing commenced

November 2012

Powervault Ltd. incorporated

August 2012

£24,000 Technology Strategy Board “Proof-of-Market” Grant secured

April-July 2012

Business and launch plan developed

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