Invest in Powervault
Powervault aims to become the UK’s leading supplier of home energy storage solutions, 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 Tempus Energy, Open Energi and Nissan, 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.
Powervault has an aggressive plan for growth. It will be using its current round of funding to:
- 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.
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.
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: firstname.lastname@example.org.