Pavegen Systems powers up with investment
A technology business founded by a Loughborough University student has completed its first round of external funding.
Pavegen Systems, a clean tech business founded by graduate Laurence Kemball-Cook, secured an undisclosed investment from Renaissance Capital Partners and a syndicate from London Business Angels.
The company has developed an off-grid technology which converts the kinetic energy from footsteps into stored electricity.
Kemball-Cook said: "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.
"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."
Pavegen was recently awarded a contract for an installation at Westfield's new headline Olympic site in Stratford City, which is set to become the largest urban shopping centre in Europe.
