Perpetuum (United Kingdom) - Oct 2007

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01 October 2007

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The Environmental Technologies Fund (ETF) has led a £5m series-B round of funding in Perpetuum, a manufacturer of vibration energy harvesting devices. The financing was backed by existing investors Quester and Top Technology, which each participated in a £2.2m series-A funding round in 2006 (27 February 2006, page 18). The new capital will be used in the commercialisation of the company’s vibration energy-harvesting generator. The transaction originated following a direct approach by Perpetuum to ETF, which, as a clean-tech focused fund, was attracted to the energy saving potential of the company’s product. This is the second investment from ETF’s new fund, launched last year with a target size of €150m.

Company

Southampton-based Perpetuum, founded in 2004, has developed the world’s first practical vibrationharvesting device, which generates electric current from the energy of low levels of vibrations present, for example, on industrial sites. The generator is capable of providing enough power to allow for wireless transmission of large amounts of data, making it a key enabler for wireless sensor networks. Harvesting power locally in this way makes the sensor nodes independent of the use of batteries or mains power, which saves energy as well as reducing both installation and maintenance costs.

People

Henrik Olsen led the investment for ETF and will join the Perpetuum board.

Advisers

Company - Taylor Wessing, (Legal)Equity - Nabarro, Roger Gregory (Legal)

Sourced from: unquote unquote" 356 (Nov 2007)