Member Article

Pavegen kicks off crowdfunding campaign with Canary Wharf installation

Pavegen has marked the launch of its first crowdfunding round on Crowdcube with an installation in the heart of the Canary Wharf District

The clean-tech startup, known for developing flooring technology that generates electricity from footfall, will enable members of the public to experience the 10-tile installation, powering two streetlights in the heart of the financial district.

Commuters will be able to finance the future of renewable energy through Crowdcube’s 6-week campaign, for as little as £10.

Utilising Crowdcube, Pavegen will harness the power of the crowd in driving the next stage of development.

This investment will bring Pavegen a step closer towards commercialisation of the technology, enabling mass production and reducing the cost of the tiles to equate to standard flooring.

Pavegen’s potential has already been recognised by clients worldwide, now including the Canary Wharf Group. Initially introduced through the Cognicity Challenge Accelerator Programme, an installation was soon confirmed within the district.

CEO and founder 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.”

CEO and chairman of Canary Wharf Group, Sir George Iacobescu, said: “Pavegen is one of the greatest ideas, which needs to be implemented by more companies within the public space. I think it could shape the future of renewable energy generation, with an enormous scope on helping the Canary Wharf district achieve sustainability, through lighting, HVAC, and endless applications.”

Since inception, the company has generated sales across the world, with over 100 projects delivered in 30 countries on every continent.

Through the support of friends and family, as well as seed funding rounds and clever utilisation of investment, Laurence has managed to grow the company to a 30-stong team of engineers, designers, and innovators.

Stephen Hawking, Theoretical Physicist said, “This technology has the potential to radically change the way we source power in the future”.

Luke Lang, Co-Founder of Crowdcube, said: “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 investment opportunities and Pavegen’s new way to harness energy from footsteps certainly fits the bill.

Pavegen’s innovation has been recognised internationally, with a client list including: WWF, Schneider Electric, UNIQLO, Kia Motors, Samsung, Adidas, Coca-Cola, and London 2012 Olympics. The largest installation in Pavegen’s history took place in September 2014 with a 200 tile football pitch in Rio, capturing players’ footsteps to power the pitch floodlights.

This was posted in Bdaily's Members' News section by Ellen Forster .