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CO2Sense invest in energy storage

October 24th, 2016 | 10:59 am

CO2Sense is pleased to announce a new investment into Powervault, the innovative London based electricity storage company. The investment was made as part of a wider fund raise and will contribute towards cutting production costs and increasing the growth of the company.

Powervault offers a domestic-scale electricity storage system that is typically 50% cheaper than market competitors. The system is based on Lithium-ion technology and is compatible with all solar PV and smart meter systems. The system also allows emergency energy usage in the event of a power cut on the main grid. The Powervault system is estimated to enable household electricity bill savings of up to 20% and carbon savings of up to 0.3 tonnes of CO2 per annum.

CO2Sense made the investment in the form of equity with a view to exit over the medium term. Being an active investor, CO2Sense are also providing help and support in the form of business development opportunities to help Powervault grow.

After receiving the investment from CO2Sense, Joe Warren, Director of Powervault commented;

‘Home Electricity Storage is a key step towards a decentralised energy system, allowing homeowners to use electricity in their homes more efficiently and the investment from CO2Sense allows us to work towards reduced product costs enabling further uptake of home electricity storage by consumers’

If you are an early stage company in the environmental sector looking for growth funding in the form of either debt or equity, please contact us on 0113 247 3848 or email talk2us@co2sense.co.uk.

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