Dear ,
We are pleased to announce that the Parkwalk Opportunities EIS Fund has participated in a follow-on funding round for Perpetuum, a Southampton University Spin-out company and world-leader in vibration harvester-powered wireless sensing systems.
Established in 2004, Perpetuum have world class knowledge in Vibration Engineering, enabling the exploitation of
- Power from Vibration: creating self-powered, maintenance-free sensor systems converting vibration energy to electricity
- Information from Vibration: Vibration is the earliest indicator of wear. Vibration algorithms can provide simple actionable alerts
Perpetuum started with the concept that mechanical vibration can be converted into electrical energy used to perpetually power autonomous, maintenance-free industrial wireless sensor nodes.
Perpetuum engineered, produced and commercialized the world's first practical electromagnetic vibration harvesting micro-generator delivering the power required to transmit large amounts of autonomous wireless sensor data reliably from remotely monitored assets.
This technology is now being adopted by the rail market for condition monitoring. However, the potential applications are boundless within the broader rail and industrial sectors.
The Opportunity
Perpetuum continues to make good progress in expanding the addressable market both geographically (India, Australia, North America), functionally (Gearbox applications) and in new segments (Freight, Infrastructure). Sales opportunities are also maturing with core clients in the UK and Europe.
This funding round provides the company with sufficient runway to exploit the various opportunities at hand.
The Market
The current pipeline represents a potential revenue opportunity in excess of £100m, and the global market is in excess of ten times that size. There are also multiple opportunities outside of rail networks.
Management / Team
David Parker, Chairman, was CEO of SPI Lasers through to its acquisition by the Trumpf Group. He was CEO of Marconi Components from 1999 through to 2004 and is an Imperial Innovations venture partner.
Steve Turley, CEO, was EVP of Bookham and VP at Nortel Networks before joining Perpetuum in June 2010.
Roy Freeland, President, has been the Group General Manager of Bowthorpe/ Spirent plc, CEO of United Industries plc and President of Encoda EMEA.
Justin Southcome, Commercial Director, joined Perpetuum after 12 years at Alstom, where he held various roles in operations, strategy and formerly as tender leader and business development of Alstom Transport.
Investment Case
The company is making good progress at expanding its addressable market with a number of significant and exciting new opportunities, particularly in North America. Whilst we remain cautious on timing, there is a strengthening sales pipeline and a reasonable expectation of revenues in the foreseeable future.
This funding round will enable the company to exploit its market-leading position and secure sales contracts with a number of prominent clients.
