Latest news from Loughborough University
22 September 2011 | PR 11/114
Clean tech graduate start up completes first investment round
Pavegen Systems, a clean tech business founded by a Loughborough University graduate has closed its first major external funding round, with investment from partners including Renaissance Capital Partners and a syndicate from London Business Angels.
Pavegen Systems, founded in 2009 by Laurence Kemball-Cook, an industrial design graduate of Loughborough University, has developed an off-grid technology which converts the kinetic energy from footsteps into electricity to be stored in batteries, or used to power applications such as lighting and signage. Pavegen has already won a contract for an installation at Westfield’s new headline Olympic site in Stratford City – to be the largest urban shopping centre in Europe, and has won a string of awards including the ‘Big Idea’ category at the 2011 Observer Ethical Awards. The Company plans to exploit this patented technology on roads and is working on a prototype system that will harvest the energy from lorries and cars on motorways and in cities to power street furniture such as lighting and LED information boards.
“This funding comes at a crucial time as we scale-up production and work with our corporate partners to supply their sites with the capacity to generate renewable energy and communicate their commitment to the environment,” said Pavegen’s CEO Laurence Kemball-Cook. He continues, “It wasn’t long ago that I was learning all about Business angels in enterprise lectures at Loughborough University and I’m delighted that we have closed such a significant deal.”
Business is flourishing for Pavegen Systems. With a manufacturing site near Brighton and an imminent move to expanded offices in central London, the company is expanding its executive team to deliver the kinetic flooring technology to a number of key clients and markets.
Kemball-Cook’s business idea was supported in its infancy through Loughborough Student and Graduate Enterprise at Loughborough and he was presented with a Graduate Enterprise Award last year. Student Enterprise Manager, Marina Pickles said: “129 business ventures were launched by our students and graduates in 2009/2010. Pavegen is a shining example of graduate enterprise. I’m delighted that Laurence has achieved so much and that he continues to inspire current students by giving presentations in our Design School.”
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Notes for editors:
1. About Pavegen technology
Pavegen website: www.pavegen.co.uk
Link to film of Pavegen, made for the Ethical Awards by The Observer: http://www.guardian.co.uk/environment/video/2011/jun/09/winner-big-idea-2011
Link to Videos of Pavegen in action: http://www.youtube.com/user/Pavegen
Pavegen Demonstrations: http://www.youtube.com/watch?v=5WeiVkhla5Q&feature=related
2. About Loughborough University
Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching, strong links with industry, and unrivalled achievement in sport and its underpinning academic disciplines.
It was awarded the coveted Sunday Times University of the Year 2008-09 title, and is consistently ranked in the top twenty of UK universities in national newspaper league tables. In the 2010 National Student Survey, Loughborough was voted one of the top universities in the UK, and has topped the Times Higher Education league for the UK’s Best Student Experience every year since the poll's inception in 2006. In recognition of its contribution to the sector, the University has been awarded six Queen's Anniversary Prizes.
Loughborough is also the UK’s premier university for sport. It has perhaps the best integrated sports development environment in the world and is home to some of the country’s leading coaches, sports scientists and support staff. It also has the country’s largest concentration of world-class training facilities across a wide range of sports.
It is a member of the 1994 Group of 19 leading research-intensive universities. The Group was established in 1994 to promote excellence in university research and teaching. Each member undertakes diverse and high-quality research, while ensuring excellent levels of teaching and student experience.