4 Jun 2019
Pavegen hopes to take the next step following recent investment
Alumni company Pavegen is celebrating success after raising over £1.3 million in investment through crowdfunding.
The company was founded by 2009 Industrial Design and Technology graduate, Laurence Kemball-Cooke. Pavegen produce environmentally friendly designed flooring technology that allows power to be generated from footsteps.
The tiles have been installed in 36 countries worldwide, and can be found in places such as Washington DC, Hong Kong, Abu Dhabi Airport and even on a football pitch in Nigeria.
The company also won Gold in the ‘Spaces to Grow’ category at the 2018 Chelsea Flower Show (pictured), where its triangular tiles were used to power the sustainable garden’s water feature.
Based in London and Cambridge, Pavegen has smashed its original crowdfunding target of £950,000 with three weeks to spare. The company is also one of the finalists of the EY Entrepreneur of the Year Award 2019.
Pavegen plans to use the money to lower manufacturing costs and increase its sales team, with the company having grown from five to 40 employees in the past three years.
Capturing 500 million steps, Pavegen generated almost £2 million in revenue in 2018, . Each step can generate up to five watts of electrical power, and the system can also connect to phones via Bluetooth.
You can find out more about Pavegen online.
Congratulations to Pavegen on their recent success.
© 2020 Loughborough University. All rights reserved.