These sources include its own management, wealthy individuals, IP Group, Cambridge Enterprise and the Low Carbon Innovation Fund 2. The company was founded in January 2015 by Ashwin Seshia, professor of microsystems technology at the University of Cambridge and others, to exploit vibration energy harvesting based on parametric resonance which is harvested via MEMS technology.
The company has developed and supplies real-time condition monitors that operate without an external energy supply or battery as they harvest energy from the vibration of the assets they monitor. These typically are pumps, motors and gearboxes and could be found in mutliple in IoT applications.
"We are delighted to welcome LCIF2 as an investor," said Paul Egan, CEO of 8power, in a statement. "This investment will enable us to achieve our goal of growing the business in the UK and Europe, as well as strengthen our links to local and national government."
8power has made a series of deployments with water and waste treatment companies in the UK. 8power said it has plans to operate internationally and in additional markets including energy, chemical, HVAC, Oil & Gas and wider industrial settings.
Related links and articles: