Less than three years after securing £985,840 through its second Crowdcube round, UK-based commercial-scale portable solar power systems startup, Renovagen, has returned to the equity crowdfunding platform to raise an additional £350,000.
Renovagen reported it has developed and manufactured portable solar power systems for disaster response, military, and remote commercial operations which are lightweight and extremely fast to deploy. Customers include a UN Agency, a major international NGO, Royal Marines and international charity/development projects.
“Renovagen aim to make energy more available, affordable, secure and sustainable for people around the world. Our portable solar power systems are compact, lightweight, fast to deploy and easy to use. Our customers, at remote off-grid sites, are less reliant on expensive and insecure fuel deliveries and benefit from reduced noise and pollution. In disaster response, they can power medical equipment and other essential loads. This can be life-saving.”
Renovagen noted it is now delivering on product orders across UK, Middle East, Africa, India, and North America. The capital through the latest Crowdcube campaign will enable the company to hold more stock, speed up production and position it for growth.
“By 2021 the Temporary Power Market is predicted to be worth over $5 billion (67% growth vs 2016) – plenty of space for growth with policy support such as ‘UN Global Plan of Action for Sustainable Energy Solutions for Situations of Displacement.'”
Since its launch, the Crowdcube round has raised nearly £175,000 from more than 180 investors. It is set to close at the beginning of February.
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