POWERVAULT CLOSE SUCCESSFUL FUNDING ROUND WITH £1.5M

 

Last week, Powervault closed their second extremely successfully Crowdcube funding round with the final figure coming in at £1.5m, doubling the £750k target.

Powervaults current success comes as no surprise as they overfunded in their first ever round by 50% and even gained Crowdcube’s ‘Fastest Successful Crowdfunding Round’ & ‘Best Start-Up’ awards in 2014.

Having started only a few years ago with just one Powervault, Joe Warren and the team have shown real progression and have proven why they are a leading light in the UK and of Sustainable Bridges.

Joe Warren

Joe Warren

Joe Warren: “I am very proud that we have received investment from over 800 investors in this round; the vote of confidence that we now have from investors and customers alike is a great boost for the team”

Along with closing their round last week, they also signed an MOU with Job Worth Doing, a subsidiary of national home energy specialists Entu, to trial targeted deployment of Powervault’s energy storage system amongst Job Worth Doing’s solar PV customers.

In April, Powervault also launched its new range of home energy storage, the new range will automatically charge up when power is cheaper, storing it for use during the more expensive peak times.