With nearly two weeks until its Crowdcube campaign comes to an end, WTT Energy has successfully secured over 900,000 for its patented fully scalable innovative energy harvesting system.
As previously reported, the company created the system that converts any motion on land, sea and air into electricity. It as noted:
“We already have working prototypes that demonstrate the WITT technology capability. The next stage will be to use this funding to build the first WITT products to be sold to potential customers already wanting WITT products based on current discussions. This will move the company into profitability.”
First units to be manufactured are known as 200 Watt Marine WITT and will reportedly provide autonomous power for numerous marine applications requiring renewable power 24/7. The company plans to work with Global Bearings Company Schaeffler, and Gibbs Gears, to ensure that it brings this product to manufacturing readiness without risk.
The Crowdcube funds will also go towards commercialisation, marketing, IP and business costs, along with the main third party development cost will be with Gibbs Gears.
Last week, WTT Energy revealed that it met with met with Glenn Jarrett, Head of Product Marketing at RS Components and Dr Lucy Rogers to show them the system. Rogers stated:
“Initially I though this idea was a little bonkers, but having now seen and played with it, I am very excited about the possibilities and look forward to seeing a production model. It was mesmerising and fun to play with, as you may be able to tell from my video!”
She went on to discuss her WTT experience here. The campaign will close at the beginning of April.
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