The Pavegen smart floor tiles help generate electricity, which can in turn, be used to power streetlights and buildings in cities.
The tiles use electromagnetic induction and flywheel energy storage technology, generating power with every footstep. At the moment, it is achieving generation of 7W per pedestrian. If an area is covered by 20m of the flooring, it could generate around 1,500W of electricity.
Pavegen’s flooring also collects real-time data from every footstep, allowing analysts to process data for use in studies, data visualisations or social media.
The technology has been installed on a football pitch in Rio de Janeiro to help power the floodlights and at London Heathrow Airport. It has also been used in Harrods and Federation Square in Melbourne. ITs revenues to dates have topped £2.5m from 100 projects in 30 countries.
The company is appealing to raise £750,000 on Crowdcube to bring the cost down for each tile, which currently costs around £300. Pavegen’s goal is to find ways to manufacture the flooring so it will cost the same as standard outdoor floor tiles and it will also investigate into using recycled materials to reduce the cost.
At the time of writing, Pavegen had raised more than £1m from 813 investors. The campaign has more than a month to run and is offering 4.48 per cent equity.
Pavegen’s founder and CEO Laurence Kemball-Cook said: “We see this as the right opportunity to enable our next stage of growth for Pavegen.
“As we continue to expand globally and create value for our current shareholders, we will be looking to close a larger venture capital round in the near future. Crowdfunding has enabled us to reach this next stage of growth far quicker than conventional forms of raising finance.”