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276%
Raised
£2,074,890
Investors
1262
Target
£750,000
Equity
20.43%
Pre-money valuation
£8,083,548

An innovative and award-winning home battery system, Powervault can lower electricity bills by 20%. Since its previous rounds on Crowdcube, the company has grown its team to 18 employees, implemented a scalable manufacturing solution and lined up a new product launch for later this year.

  • Battery supply agreements signed with Nissan and Renault
  • Trials underway with UK Power Networks and energy supplier Tonik
  • Innovate UK-funded recycled battery trial with M&S Energy
  • Addressable market of millions of homes with smart meters and solar PV

Idea

Powervault manufactures and operates its award winning, cloud-connected home energy storage appliances, which we estimate can lower electricity bills by up to 20%. Powervault stores low cost electricity from solar panels or the national grid, and releases this stored energy at peak times. We’re targeting ~1m homes with solar PV, and utilities installing smart meters to homes, a market forecast to grow to 20m in five years.

Other achievements include:

• Cloud-based smart grid/smart tariff system trialling with utilities including UKPN, discussions with Tonik & M&S

• Multiple battery suppliers including Nissan agreement to supply low cost recycled and new lithium ion batteries

• Coverage in Times, Telegraph, Guardian, Bloomberg, Radio 5

• Scalable, outsourced manufacturing facilities

• Next generation product scheduled to launch in 2017 delivering (from our calculations) ROI of >15% with recurring revenue streams, unlocking access to product financing and enabling our “storage as a service” product

• Team grown from 7 to 18

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Powervault has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.