Lancashire-based technology platform will also double its staff numbers in the next 12 months and create a R&D function to accelerate new product development.
NPIF Maven Equity Finance, part of the Northern Powerhouse Investment Fund has invested £750,000 in Lancashire-based Extreme Low Energy (ELe), a proven technology platform, which stores and efficiently distributes low voltage DC power, and which targets a number of different sectors.
The funding will enable the firm to double its staff numbers in the next 12 months, expand its range of applications for the technology, which include powering infrastructure, monitoring and security systems and applications within crop growing industries, and create a dedicated research and development function to accelerate the delivery of the new products.
ELe has developed a proven platform technology for the storage and efficient distribution of low-voltage DC power, The ELe DC micro-grid systems typically require 50% to 70% less energy than existing alternatives and the firm is set to commercialise this technology across several large value global market applications. Its value proposition lies in the technology reducing the total energy consumption of a DC device.
ELe has already successfully deployed low-energy DC power distribution infrastructures and ICT equipment into the UK and African Education Sectors and the UK modular housing market and is seeking to expand into a broader range of markets, including monitoring security systems, computer servers, crops grown under LED lights and power infrastructure in developing countries.
The firm was co-founded by experienced entrepreneur and investor Mark Buchanan in 2014. Building on his experience in computer engineering and renewable energy, Mark recognised that while power supply is globally standardised on Alternative Current (AC) transmission, many of today’s everyday electrical products such as computers and air-conditioning run on DC power and as a result, require bulky, inefficient, energy wasting transformers. Identifying the potential energy and carbon savings that could be achieved by eliminating the wasteful AC/DC conversion process, Mark created a ground-breaking patented DC power infrastructure offering and is working on various ultra-low power DC devices.
“We are really excited about the opportunity to commercialise our low energy solution technology and support the paradigm shift in how people think about energy infrastructure,” said Buchanan said about the investment.
Photo:(L-R) Simon Thelwall-Jones of MSIF, Caroline Clayton, Mark Frost and Mark Buchanan of Extreme Low Energy