Perpetual V2G, a Lampeter, Wales, UK-based provider of mobile clean energy power solutions to a range of applications and major corporations, closed a six figure funding round.
The deal saw existing shareholder Finance Wales convert their £500k loan to equity. In a combined capital raise from existing shareholders, almost £300k of further funding was raised.
Business growth specialist Mervyn Ham joined the company as Chief Operating Officer, as well as the existing investor group in backing the business.
The company intends to use the funds to add key staff and drive forward growth.
Led by Andy Ling, Founder and CEO, and Ashley Cooper, Chairman, Perpetual V2G provides mobile clean energy power solutions to a range of applications and major corporations including Sainsbury’s and British Telecom. The company’s Lithium Power Supply (LPS) is paired with power delivery solutions to provide customers with the ability to reduce vehicle idle times with savings in fuel and CO2 emissions. In addition, across the utilities and other sectors, the LPS packaged solution replaces noisy polluting generators with silent green energy.
Perpetual V2G is a Business Wales Accelerated Growth Programme company and is also looking to secure Welsh Government RBF/SME support for its forthcoming staff growth plans.