Germany-based renewable energy storage solution, Hycube, is set to close its equity crowdfunding campaign on Seedrs with nearly €1.6 million raised from more than 1150 Seedrs investors. As previously reported, Hycube was notably created to build world-class energy storage systems by taking energy from solar panels and storing it for later use in homes or businesses. The company further explained:
“You can store cheap clean energy during the day, and use it at night, or whenever you need it. It also means you have electricity if there is a power cut in your area, which is important for developing countries. Whilst some storage products are very basic, our products have high levels of home integration, expandability and intelligence that separate us from the competition, including major brands like Tesla.”
Hycube also claimed its products are said to provide a “simple” to install, all-in-one housing that enables the addition and removal of batteries. A user interface, on the unit/through mobile/ MyHycube.com. A power failover mechanism and a Home Energy Management System that can interface with electric vehicles, sockets, heating and intelligently prioritize their use.
Funds from the Seedrs campaign will be used for the following:
- Create new distributor relationships, improve digital presence, be present at trade shows, increase sales staff
- For supply chain efficiency and new partner deals
- Build intelligent VPP platform and establish Hycube as an energy provider in its own right
- Continue product innovations, particularly home automation, process automation, and hardware improvements
Hycube is offering 5.27% in equity with a €17,999,895 pre-money valuation through the campaign.
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