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Status: Funded

May 11th 2021 - Jun 10th 2021

Gravitricity is an energy technology company that uses heavyweights to store energy underground. The company uses winches to raise a heavyweight to the top of a vertical shaft to store electricity in the form of potential energy when there is excess energy on the grid. It then lowers it when required with the winch motors running as generators to transfer energy back to users on the grid. Gravitricity argues that the system can be charged and discharged multiple times a day for over 25 years. The company has built a 250kW concept demo in Edinburgh. It aims to become a contender in the energy storage market that is predicted to become a $620 billion market by 2040. The company has received interest from operating mines, grid companies, EV charging stations and solar developers for its technology. It will use the investment to complete the concept and detailed design for its prototype, develop its commercial projects portfolio, and protect its Intellectual Property (IP).

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  • £1,185,207
    pledged
  • 158%
    of goal

    £750,000
    target

    £12,544,489
    pre-money valuation

    5.64%
    equity available

    1,459
    investors

    £812
    pledge per investor

    07827384
    company number

    Active
    company status

    28/10/2011
    incorporated 10 years

    £0.75
    share price


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Funding progress



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Carnot is developing hydrogen engines with key components manufactured from ceramics able to withstand fuel combustion temperatures, eliminating the need for cooling systems and doubling the efficiencies of modern engines. The company argues that modern engines waste on average one-third of fuel energy to cool systems that stop metallic components from melting. Carnot claims that its engines eliminate this waste doubling efficiency, halve fuel costs and CO2 and achieve net-zero operation by operating on biofuels and hydrogen benefiting the long haul transport, marine and primary off-grid power markets. Carnot has raised over £600,000 including a pre-seed round in 2020 for £357,000 at a pre-money valuation of £2 million, a £300,000 Innovate UK grant and another £300,000 Eureka Eurostar’s grant. Carnot has a 5-year, 3-phase exit strategy and will begin licensing its IP at the end of 2023 at which point it will begin generating revenue. It will eventually look for acquisition from one of its manufacturing partners in 2025 after demonstrating industry acceptance of its technology.
pledged: 66% days to go: 53 investment: £200,000
INSPHERE uses image sensors and Artificial Intelligence (AI) to guide and correct robot positioning during the manufacturing process, ensuring right-first-time production. The company argues that industrial robots are not completely accurate and can experience unplanned downtime that can cost up to £10,000 per minute. INSPHERE asserts that its solution allows factory operators to operate safely with less downtime, and with multiple robot and human operators. The company has developed three products since 2013 which have received recognition in the aerospace and industrial automation sectors. INSPHERE is now launching IONA, a network of sensors that can be permanently deployed in a manufacturing environment to monitor and control industrial robots. IONA, the company points out, uses both hardware and software to correct errors taking into account the robot and its relationship to the workpiece. INSPHERE will use the investment to diversify the reach of IONA across markets.
pledged: 81% days to go: 14 investment: £1,019,999

  • £1,185,207
    pledged
  • 158%
    of goal

    £750,000
    target

    £12,544,489
    pre-money valuation

    5.64%
    equity available

    1,459
    investors

    £812
    pledge per investor

    07827384
    company number

    Active
    company status

    28/10/2011
    incorporated 10 years

    £0.75
    share price

  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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