Loughborough graduate company Pavegen kickstart crowdfunding venture
Loughborough University graduate company Pavegen are launching their first crowdfunding venture in the heart of the Canary Wharf District.
The clean-tech start up that generates electricity from footfall will allow members of the public to experience a 10 tile installation, powering two streetlights in the heart of the financial district.
Pavegen are using lead equity crowdfunding platform Crowdcube in a six week campaign where commuters will be able to finance the future of renewable energy for as little as £10.
The investment will bring Pavegen a step closer towards commercialisation of the technology, enabling mass production and reducing the cost of the titles to equate to standard flooring.
Founder and CEO of Pavegen, Laurence Kemball–Cook first developed the idea in 2009 when he was researching kinetic, off-ground energy solutions at Loughborough University’s Design School. He then launched start-up company Pavegen.
Pavegen has since embarked on a journey to become the market leader in the footfall energy harvesting sector and now has a 30 strong team of innovators, engineers and designers.
Their innovation is recognised internationally with a client list including: Coca Cola, Samsung, Adidas, Kia Motors, UNIQLO and now the Canary Wharf group.
CEO and Loughborough University graduate, Laurence Kemball-Cook, said: “With the support of Canary Wharf group, we hope to become the ‘intel inside’ for energy harvesting, with Pavegen technology on scale across all high-footfall locations around the world.”
Stephen Hawking, Theoretical Physicist, said: “This technology has potential to radically change the way we source power in the future.
Luke Lang, Co-Founder of Crowdcube, added: “We’re pleased the crowd has the opportunity to invest in Pavegen, it’s an exciting prospect for Crowdcube and our investor community. We’re seeing a growing trend towards investors looking for socially responsible opportunities and Pavegen’s method of harnessing energy certainly fits the bill.”
To invest in Pavegen, please click here. The campaign runs from Tuesday 26th May until Friday 10th July 2015, or until the investment target has been reached. Please note that only registered users may invest.
Notes for editors
Press release reference number: 15/94
Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It has been awarded five stars in the independent QS Stars university rating scheme, putting it among the best universities in the world, and was named University of the Year in the What Uni Student Choice Awards 2015. Loughborough is consistently ranked in the top twenty of UK universities in the Times Higher Education’s ‘table of tables’ and is in the top 10 in England for research intensity. It was 2nd in the 2015 THE Student Experience Survey and was named Sports University of the Year 2013-14 by The Times and Sunday Times. In recognition of its contribution to the sector, Loughborough has been awarded seven Queen's Anniversary Prizes.
In 2015 the University will open an additional academic campus in London’s new innovation quarter. Loughborough University London, based on the Queen Elizabeth Olympic Park, will offer postgraduate and executive-level education, as well as research and enterprise opportunities.
Pavegen is the invention of Laurence Kemball-Cook, 29, an industrial design engineer and graduate of Loughborough University. The CEO and founder of Pavegen developed the concept in 2009, whilst researching kinetic-off grid energy solutions in environments where low-carbon technologies like solar and wind are not practical. Pavegen tiles can be used in both indoor and outdoor locations and work best where there is high footfall such as retail and transport hubs. The technology is integrated, discreetly, into the existing environment, underfoot. Permanent installations include three schools in the UK, the entrance of a large office and an installation at Federation Square, Melbourne – to name a few. Pavegen units are also available in modular form for use at events, such as exhibitions and marketing campaigns, to demonstrate their commitment to innovation, sustainability and CSR initiatives.