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Successfully funded
overfunded
Powervault
276%
Raised
£1,574,810
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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Powervault

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Successfully Invested
£689m+
Registered Investors
871k+