Just days after launching its equity crowdfunding campaign on Crowdcube, Circuitree Cirrus successfully secured its initial £100,000 funding target and is nearly £150,000 thanks to nearly 180 investors. Circuitree Cirrus, which was founded in 2015, stated it created a smart battery allows intermittent solar energy to be captured and used on demand, which allows flexible dispatch of solar day and night. The company explained:
“Combined with solar, Cirrus home battery solu tions provide up to 80% of a typical home’s annual electricity demand. Utilities benefit from reduced peak demand and a more stable, balanced grid. For remote applications, Cirrus offers a standalone solution that is cleaner, safer and cheaper than dirty polluting diesel generators.”
The company also stated it plans to use the Crowdcube campaign funds to equip its initial production line, develop new product features, and drive sales/marketing activity through online outlets, media, and trade events. The campaign is originally set to close in mid-February. After the initiative had secured the funding target, the Circuitree Cirrus team revealed:
“We have been overwhelmed by the response our pitch has recieved, a huge thank you to those that have invested, we are thrilled to have you aboard! We would also like to announce that this round will close at £150,000 to maintain SEIS eligibility for all our investors, so if you are ‘on the fence’ be aware that time is running out! Once again a big thank you and WOW!”
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