Extreme Low Energy to accelerate growth with £750,000 funding

By Lancashire Business View

18 Jul 2018

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Extreme Low Energy will double staff numbers of the next 12 months after securing a £750,000 investment from Maven Capital Partners.

The Skelmersdale-based technology firm has developed a platform which has been proven to store and efficiently distribute low voltage DC power.

The ELe DC micro-grid systems typically require 50 per cent to 70 per cent 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 fact that its technology reduces 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.

With the new financial backing, ELe will double its workforce and 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 was co-founded by 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.

Mark said: “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.

"The funding will allow us to accelerate the growth of our business and achieve our ambitious growth targets, eventually establishing Extreme Low Energy as a significant supplier within the energy sector.”

The £750,000 was invested by NPIF Maven Equity Finance, part of the Northern Powerhouse Investment Fund, and managed by Maven Capital Partners.

Simon Thelwall-Jones, MSIF investment director said: “We believe that the potential addressable markets for the company’s various product offerings are global and Mark is supported by a group of fellow directors and shareholders who have considerable experience of successfully building a global technology business previously. We really do think that this business is one to watch for the future.” Andy Walker, head of business growth at Lancashire County Council, said: “Energy is one of Lancashire’s economic priority sectors and we welcome any investments which give a boost to local firms working in the sector. Firms like Extreme Low Energy also encapsulate Lancashire’s proud tradition of embracing innovation to help find solutions to big problems, and we look forward to seeing how their technology positively impacts on both society and the environment as it gets adopted.”

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