Evince raises £500K to develop CO2 emission reducing technology

Investment

The Low Carbon Seed Fund – formed by the Shell Foundation, the Carbon Trust and Imperial Innovations – has invested £175,000 in Newcastle-based Evince Technology to develop its carbon-emission reducing technology. In addition, Imperial Innovations and NorthStar Equity Investors (NSEI) made separate investments worth £150,000 and £175,000 respectively. A series A investment round is also planned.

Evince specialises in developing semiconductor technologies to improve the performance of sustainable energy sources such as wind turbines and fuel cells. The company has developed energy-efficient systems that connect power electronic systems to a mains electricity grid. This technology can reduce the energy requirement of motors, contributing to a reduction in CO2 emissions.

Neil Loxley, Commercial Director of Evince, said: “The effective utilisation of electrical energy at the point of transfer is now seen as a linchpin to the future of sustainable power. The semiconductor technology we are developing is inherently able to operate at grid voltages and could have a huge impact on the energy sector at the points of generation and utilisation.” 

Susan Searle of Imperial Innovations, said: “We are delighted to be investing in Evince alongside the Low Carbon Seed Fund and NSEI in Evince, at this early stage of the business. We look forward to working with the Evince team.”