UK venture firms back vibration harvesting technology(4)

A trio of VCs have clubbed together in a series B-funding round of Perpetuum, which is developing a clean tech generator to capture energy from small vibrations and convert it to electricity.

Environmental Technologies Fund, Quester and Top Technology have backed Perpetuum, a manufacturer of vibration energy harvesting devices, in a £5 million ($10 million; €7.2 million) B-round.

The current round has been led by ETF. It will be the second investment from ETF’s fund, which launched last year targeting €150 million.

Both Quester and Top Technology were shareholders of Perpetuum and have taken up pre-emption rights. The investment is to be used to support Perpetuum in commercialising its vibration energy-harvesting generator.

Its micro power generator is the world’s first practical vibration harvesting device capable of generating enough power to enable wireless transmission of large amounts of data.

Energy harvesting is at the heart of wireless sensor networks, which are becoming increasingly important in a variety of areas including industrial monitoring and control, rail transport, and shipping, ETF said.

Environmental Technologies Fund is a venture capital fund investing growth capital in European companies focusing on clean technologies and services.

In May 2007, Quester was acquired by NewMedia SPARK, a quoted venture capital organisation focused on early stage investments, primarily in the technology, media and telecoms sectors, with a particular emphasis on digital media, software applications, technology and communications.

Top Technology Ventures is a UK venture capital company which specialises in providing equity funding for early stage technology based growth companies.