Pavegen wins investment to push deeper into lucrative markets
‘Energy from footsteps’ harvester Pavegen has paid tribute to the role in its progress of the Allia Future Business Centre in Cambridge as the CleanTech/ESG company targets £3 million of new funding to embrace fresh global opportunities in a market that could be worth over $51 trillion by 2025.
Pavegen, which is in the throes of a funding campaign via CrowdCube, is also throwing open the investment opportunity to the public with a £3m target in the sights of its tech entrepreneur CEO Laurence Kemball-Cook.
Kemball-Cook set out with a clear mission; to produce clean, off-grid electricity all through the power of a simple footstep. Invented as an original, revolutionary technology, over 750 prototypes were created and, in 2009, a kinetic floor tile that could generate clean electricity was born.
Now, and all from organic growth, the highly refined business is closing in on multiple £500K+ plus contracts with new developments around the world. The company is set to scale in the US, Middle East and Asia – all lucrative and growing markets where Pavegen has witnessed astonishing 300 per cent growth.
Its technology has already gained international recognition through partnerships with industry giants such as Siemens, Volvo, Ford and many more.
The company doubled revenue in 2022 and has a potential £40m pipeline of projects; it has already captured billions of footsteps from more than 250 installations in 37 countries.
Pavegen is at the forefront of innovation, converting footsteps into clean, off-grid electricity and valuable data. Kemball-Cook cherishes Pavegen’s roots from which business has blossomed. He says: “Our R & D team in Cambridge are constantly innovating, striving to better our solutions. We know the potential is enormous, but the reality is already demonstrable.
“Our office at the Allia Future Business Centre in King’s Hedges Road puts us at the heart of academia and technology. Cambridge is a real hub for innovation and big ideas, making it a great fit for Pavegen.
“Our latest crowdfund will continue the global momentum we already have as business, governments and people embrace a more sustainable future. As well as our success in retail, we are also seeing traction in transportation and infrastructure, as well as increased interest in the US, Middle East and Asia – all key regions for growth.”
The Allia ESG Investment Bond
Established companies are being handed the opportunity to invest capital, secure a healthy return and help support long term social and environmental enterprise and impact at the same time.
Allia has launched a new ESG investment bond that in the past has offered attractive returns for Cambridge tech influencers.
They include superchip architect Arm, quoted coding & marking inkjet company Xaar, Europe’s leading design & tech consultancy TTP, remote access software pioneer RealVNC and Abcam.
For a minimum investment of £500k, which earns companies a healthy return, backers of the new ESG bond will also be adding to an inspirational litany of Cambridge social enterprise success.
The new bond offers backers the commensurate rate required to compensate for moving reserves at whatever their deposit rate happens to be, and are over standard five-year terms.
Backers of the last ESG investment bond have enabled a large number of young CleanTech/Social Enterprise & Sustainability startups reach maturity in addition to building wonderfully productive facilities for them here in Cambridge and elsewhere.
To date, Allia has supported around 1,700 high potential ventures, backed by a new and growing cohort of young entrepreneurs, which have gone on to create almost 5,000 new jobs – not to mention making work and life greener and cleaner in the process.
Martin Clark, Allia Impact CEO, is spearheading the new ESG Bond and emphasises the many upsides to supporting the venture. He tells potential backers: “Through holding an amount of your retained profits in Allia’s new fixed-term secured bonds, you will be supporting these local start-ups and social enterprises – and can benefit from real ESG engagement, such as goodwill, brand enhancement or volunteering.
“You are able to diversify your treasury holdings with an interesting secured asset offering a fixed return, while helping these innovative businesses to thrive and grow.”
• To register for the new bond scheme, email Martin Clark: martin.clark [at] allia.org.uk
Earlier this month Allia celebrated its 10-year anniversary with an event in Cambridge, welcolming former tenants and partners. The centre was purpose-built in 2013 to provide workspace and community for social enterprises and start-ups focused on creating positive change. In this time, the centre has welcomed over 100 tenant companies and over 1,400 ventures and entrepreneurs have enrolled in Allia’s free business support programmes, all designed to help them to thrive, grow and create employment – as well as supporting them to generate more positive impact for people, place and planet.
Tim Jones, Chair of Allia Ltd, adds: “What the Future Business Centre epitomises is the spirit of endeavour. Allia set out with the idea to make an impact on the availability of enterprise support for all in Cambridge and now, we have a £15m Future Business Centre campus at King’s Hedges as well as other workspaces in the city, plus a large centre in Peterborough. Hundreds of entrepreneurs, social enterprises and start-ups have developed their ideas with us as tenants and participants in our programmes. Their successes, the impact their organisations make, the people they employ, the communities they reach, the prosperity they add to the local economy – these are the successes that make us, them and Cambridge proud.”
David Broach, Director of Allia Future Business Centres, looks forward, stating: “In the future, our Future Business Centres will remain committed to delivering our distinctive blend of high-quality, affordable workspaces coupled with a vibrant entrepreneurial ecosystem. This steadfast support system empowers our tenants and programme participants to drive meaningful change, whether on a local, national, or global scale. Our vision includes expanding our footprint in Cambridge and Peterborough, while also exploring opportunities to extend our proven model to new locations, thereby amplifying our impact in previously untapped areas.”