The £500,000 funding round in Evince, which has developed a semiconductor device that is said to reduce CO2 emissions, also included a separate investment of £150,000 from Imperial Innovations and £175,000 from NorthStar Equity Investors (NSEI).
Evince Technology’s semiconductor device has the potential to improve the performance wind turbines and fuel cells by enabling the direct connection of power electronic systems to the main electricity grid.
The technology reduces the power required by motors, which decreases CO2 emissions. Evince will use the £500,000 investment over the next 12 months to further develop its semiconductor technology IP.
‘The effective utilisation of electrical energy at the point of transfer is now seen as a linchpin to the future of sustainable power,’ said Neil Loxley, Evince’s commercial director. ‘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.’