Pulsiv Solar Limited, a University of Plymouth spinout company, has raised £500,000 to step up development of its novel power conversion technology.
The funding is in the form of a convertible loan and includes a £250,000 investment from the UK Government’s Future Fund, which was established to support innovative businesses through the COVID-19 outbreak.
That has been supported with £200,000 from the University’s commercial arm, University of Plymouth Enterprise Limited (UoPEL), and £50,000 from its commercialisation partner Frontier IP.
Pulsiv is based at Plymouth Science Park and was incorporated to commercialise the work of Dr Zaki Ahmed, Associate Professor in Information Technology at the University.
Adrian Dawson, Director of UoPEL, added:
“Pulsiv is part of an exciting suite of spinout companies transforming the world-leading research undertaken at the University of Plymouth into commercially available products that can have real-world benefits. This latest success is a further demonstration that governments and industry are recognising its potential, and UoPEL is delighted to support its continued growth.”