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Issue Date: 10th October 2007
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Perpetuum completes $10 million B-round to fund commercialization of its vibration energy harvesting generator
Southampton, UK, October 10th 2007 - Perpetuum, the leading
manufacturer of vibration energy harvesting devices, has completed a $10
million funding round backed by Environmental Technologies Fund (ETF), Quester,
and Top Technology. The investment is to be used to support Perpetuum in
commercializing its vibration energy-harvesting generator.
Perpetuum’s micro power generator is the world’s first truly
practical vibration-harvesting device capable of generating enough power
to enable wireless transmission of large amounts of data. Energy harvesting
is considered a key enabler for wireless sensor networks, which are becoming
increasingly important in a variety of areas including industrial monitoring
and control, rail transport, and shipping. Perpetuum’s novel energy
source generates electric current from the energy of low levels of vibrations
as they are present, for example, on standard electric motors common at
industrial sites. Harvesting power locally makes the sensor nodes independent
of the use of batteries or mains power and drastically reduces installation
and maintenance cost.
The current round of investment has been led by ETF. It will be the second
investment from ETF’s new fund, which was launched last year with
a target size of 150 million euro. Both Quester and Top Technology were
previous shareholders of Perpetuum and have taken up pre-emption rights.
Mike McTighe, Chairman of Perpetuum said, ‘Our generator is already
being built into sensor node designs by some of the world’s leading
industrial condition monitoring companies. There is no comparable device
on the market today and we have a great opportunity to position Perpetuum
as the global leader in this fast-growing market. We are very pleased to
have ETF as an investor, and to welcome Henrik Olsen of ETF to the board.’
Henrik Olsen, a founding Partner of ETF added, ‘Perpetuum has developed
a novel alternative energy source that harvests energy otherwise wasted
and renders batteries unnecessary. By enabling wireless sensing it will
significantly improve industrial efficiency. Perpetuum is a great example
of the type of company we would like to support – it has a market-ready,
universally applicable product that can make a real difference in a rapidly
growing market. It has an excellent management team, enjoys great customer
interest and is poised for significant growth.’
For further information contact:
Perpetuum Ltd., Epsilon House, Southampton Science Park, Southampton
SO16 7NS.
Tel : +44 (0)23 8076 5888. email :
info@perpetuum.co.uk
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