The company that converts footsteps into energy to power smart cities is partnering with the Hinduja Group and launching a crowdfunding campaign to support its expansion.
Engineering and manufacturing conglomerate, Hinduja Group, has partnered with UK energy and data from footsteps firm Pavegen to help support its growth and expansion into key markets.
The group will be working closely with Pavegen’s team to reduce the cost of manufacturing and provide access to fast-growing markets in India and South East Asia.
The investment is the cornerstone of a new crowdfunding campaign on Crowdcube that aims to raise £5m to allow for a higher volume of units to be produced and sold at reduced cost.
Pavegen, which converts the kinetic energy of footfall into off-grid power and data, is seeking to bring its technology to more cities across Asia, North America and the Middle East.
The funding round follows a series of milestones for Pavegen. The company generated £1.8m revenue in 2018, with installations including smart city developments, retail destinations, transport hubs and education institutions in Hong Kong, India, Korea, Thailand, UAE, UK and the US.
In 2018, Pavegen signed a memorandum of understanding with global engineering and technology giant, Siemens, to develop smart city projects together. The multinational is connecting Pavegen walkways to its cloud-based operating system, allowing control and monitoring of its sites from any connected device.
“We’re helping people to change the world for the better, through the power of a footstep. People can physically participate in a smarter, more sustainable future”
Pavegen has also developed a digital ecosystem which connects to people’s smartphones, rewarding them for steps on Pavegen walkways. Its first shopping centre deployment at the Mercury mall in East London has, reportedly, raised engagement with the site by 15 per cent
“We’re helping people to change the world for the better, through the power of a footstep. Our product isn’t hidden away on roofs or offshore somewhere – people can physically participate in a smarter, more sustainable future,” said Laurence Kemball-Cook, CEO of Pavegen.
“Working with the Hinduja Group will help us to make our technology available to more communities around the world.”
“It’s an exciting time for Pavegen with new projects in airports, retail sites and smart city developments in Asia, the Middle East and North America,” added Shom Hinduja, president of alternative energy and sustainability initiatives at Hinduja Group.
“We believe the Hinduja team will be able to play a key role in enabling the Pavegen team to rapidly bring [its] ambitious vision to life.”
Founded in 2009, Pavegen has delivered 200 projects in 36 countries including at Heathrow Airport, and Westfield shopping centre. Its latest project is working with Transport for London and New West End Company to create the world’s first smart street and partnering Google to create the world’s largest energy and data harvesting array in Berlin.
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