Renovagen Launches £600,000 Equity Crowdfunding Pitch For Portable Solar Systems
Renovagen, a UK startup in commercial-scale portable solar power systems, has launched an equity crowdfunding campaign on Crowdcube, the world's leading investment crowdfunding site. The company seeks to raise a minimum of £600,000 and up to £1 million to fund go-to-market costs for their innovative "Roll-Array" portable solar power solution, which consists of flexible, rollable, transportable solar farm units combining integrated energy storage. The technology enables deployment of large solar power capacity much more quickly than competing methods - 18 kW from a small trailer unit within 2 minutes or up to 300 kW from a shipping container unit in less than an hour. The "plug-and-play" design makes it easy to use without requiring solar engineers on-site - a key benefit for deploying in the remote locations for which the solution is targeted - such as in disaster relief and humanitarian aid, military and mining industries.
Renovagen also announces the recruitment of an advisory board of veterans from key industry sectors to help support business development strategy:
"¢ Chairman: Mark Woodall, Serial Entrepreneur & Clean Tech Advisory Veteran, CFO Lumicity, ex CEO Climate Change Capital
"¢ Military Advisor: General Sir Mike Jackson (retired), ex- Chief of General Staff, British Army
"¢ Mining Advisor: Brendan Ryan, former Global Head of Business Evaluation, Rio Tinto
"¢ Disaster Relief Advisor: David Jones, CEO Rescue Global (NGO)
"¢ Renewables Financing and Business Models Advisor: Kostas Nikolopoulos, Chalkhill Partners
The company requires the additional funding to deliver on a recent significant order for demonstration systems, to build a business development team, marketing and international channel partners, and to cover additional production setup costs. The company aims to fully roll-out the product during 2016 and to run multiple international demonstration projects in advance of scaling up in 2017 to a projected £10 million turnover business.
