LONDON--(BUSINESS WIRE)--An investment opportunity is now open with climate tech company IPG, who has today announced the launch of its crowdfunding campaign to support its mission to replace the diesel generator. IPG’s patented product, the IPG Flameless Generator, disrupts the ‘chicken-and-egg’ scenario between the supply and demand of renewable fuels, giving businesses the confidence to ditch their diesel gensets today. The crowdfunding campaign is now open for interested investors to pre-register on Seedrs.
Diesel generators are the dirty secret of the energy transition. They accounted for 53% of the distributed power market in 2019 and, despite the progress we continue to make with wind, solar and battery storage, their market value is set to almost double to $30bn by 2030. With many contenders for the fuel of the future, the uncertainty in supply of hydrogen and biofuels makes businesses unwilling to risk the switch to solutions designed for just one of these fuels. However, without this demand, fuel suppliers won't invest in greater production – a classic ‘chicken-and-egg’ scenario stalling our decarbonisation.
IPG is tackling this problem with its breakthrough product – the IPG Flameless Generator. Patented flameless combustion technology delivers pollutant-free power from any renewable fuel, while allowing for the security of a conventional fuel back up should supplies fail. This will provide valuable energy security for businesses by de-risking the switch to hydrogen and biofuels, enabling them to end their reliance on diesel.
With patented technology validated by Cranfield University and a £1m prototype project with National Highways soon to be completed, IPG is now raising investment to deliver the next phase of product trials with its growing list of early adopters.
Toby Gill, CEO of IPG, commented: “With climate tech featured as the fastest-growing vertical in Europe, and investment in the space growing ten-fold over the last five years, the clean energy transition is referred to as the single greatest investment opportunity of this generation. Even so, opportunities to get involved with a B2B hardware company at this stage in the innovation journey remain few and far between. IPG’s crowdfund campaign represents a unique opportunity for climate-focused investors to get behind a breakthrough innovation at a pivotal stage, and to be a part of the journey towards accelerating the net-zero transition for businesses.”
Ian Marchant, Chairman of Thames Water plc, and Former non-Executive Director of Aggreko commented: “Technology in the power generation sector has hardly evolved in the last few decades, meaning there is no real solution for replacing the diesel generator. IPG is tackling that problem, and in my view, it’s the best technology out there to address this issue, with potentially real global impact. That’s what makes IPG’s innovation so interesting, and I’m really excited about being involved in this story.”
The new investment will enable IPG to accelerate product development building on their strong customer traction in beachhead markets, as well as set the foundation for future volume manufacturing processes with key supply chain partners.
IPG is in conversation with the UK’s top construction firms, as well as global generator rental and mining companies for undertaking its next phase of customer trials. At the same time, the company is demonstrating scaling potential in future markets through innovation projects with National Highways and SGN. IPG has also secured strategic partnerships with development and manufacturing experts, which are key to delivering the blueprint for stress-tested, cost-effective product manufacturing at scale.
The crowdfunding campaign is now open for pre-registration and will go live in the coming weeks. For more information, please visit https://www.seedrs.com/ipg/coming-soon.
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Notes to Editors
About IPG
IPG is a British climate-tech company tackling the ‘dirty secret’ of the energy transition: the diesel generator. We’re delivering a clean, multi-fuel capable generator so that companies can finally end their reliance on diesel, without sacrificing energy security.
The IPG Flameless Generator uses patented flameless combustion technology to deliver pollutant-free power from any fuel. Dynamic fuel flexibility unlocks the use of hydrogen and biofuels, while allowing for the security of conventional fuel back up – disrupting the ‘chicken-and-egg’ scenario between supply and demand of renewable fuels.
With innovation projects underway with national organisations for EV charging and future grids, as well as commercial discussions with leading construction and mining companies, IPG is on a mission to help move those difficult-to-decarbonise industries closer towards net-zero.
IPG is currently raising EIS-eligible investment through Seedrs crowdfunding platform to enable our customers to replace their diesel generators.
To learn more visit http://www.ipg.energy
