ABOUT EPSILON LTD
Epsilon Ltd are based in Oxford, England and were a spin out of Oxford University in 2017. They approached P2NZ in the Spring of 2017 and after initial meetings and six months of due diligence by P2NZ and their governance board it was approved to launch this investment opportunity via our live campaign portal on the App.
We had a significant amount of information relating to the design and patents for the product and therefore had a 2 month investment window to allow investors to carry out their own due diligence via our Data Room.
The £1M was raised after 23 days. Epsilon Ltd are a mechanical engineering product designer focused on producing energy efficient products with their first product to market being a cordless vacuum cleaner with 100% longer battery life than its competitors.
FUNDING REQUIRED FOR
Epsilon wanted to raise £1M to match fund an Innovate UK grant to build and certify a combined air source heat pump and EV charger c/w battery storage for the domestic / residential market. The design and proof of concept had been completed prior to engaging with P2NZ. The £2M raised would allow Epsilon, in partnership with academic partner Oxford University, to build, test and certify the item of plant for licence and resale via global partners already in the air source heat pump and EV charger market place.
The unit was designed to have a grid electrical connection alongside a solar panel connection with a small battery located within the unit supplemented, when required, by the car / vehicles battery whilst connected via the EV charger.
This shall be controlled by a new controls strategy developed by Epsilon incorporating artificial intelligence to monitor energy flow patterns.
P2NZ CLOSING STATEMENT
We were delighted to hear the recent news that Epsilon have been acquired by Mitsubishi Product Design of Japan for an undisclosed amount and were happy to play our part in the journey from Academia spin out to the sale of the business after generating revenue of £30M in 2022.
“From the outset we had a great relationship with P2NZ through their understanding of the huge benefits that industry / academia collaboration brings. The financial support by Alan Sim was essential as we developed the design to ensure we were competitive with the parts and components being used to ensure the end product was not overpriced for the high end residential market. The subsequent sale of the business resulted in all seed investors having a return on their initial investment of 600% within a four year period” CEO, Hugo Windsor