Feonic Vibration Technology Limited is a new start-up with a patented design that uses high power magnetostrictive material to harvest electricity from the natural vibration of machines.
The company is focussing initially on the rail industry to monitor the condition of wheel bearings of freight trains. Live trials with Network Rail in the UK have demonstrated the technology potential, and a series of global trials in the USA, China and Europe are planned over the next few months to validate the technology.
An initial round of £200K seed funding (25% already secured) is required to fund the compliance requirement prior to enable track testing. Convertible loan notes in the new start up company will be issued against minimum Investments of £25K.
Once validated the Company plans to raise a further £3.4m in a mix of new equity and grant or working capital loans in order to productionise the product, procure tooling and gear up our existing component supply chain with UK final assembly.
The initial validation tests are the culmination of over 10 man years of effort, during which we have invested over £245,000 in new product development and £29,000 securing granted intellectual property rights in the UK, EU, USA, China and Japan.
Historically Feonic Technology Ltd has specialised in developing & miniaturisation powerful smart-material products & has been producing & selling a range of maintenance free, solid-state audio devices for over ten years under world-wide patent protection.
A Feonic Hybrid Powercell (small, lightweight power generator) will harvest & store power from a wide range of vibration frequencies to create a maintenance-free autonomous power generator for wirelessly connected sensors for rail & other markets.
For more information please contact Brian Smith at b.smith@feonic.com or call +44(0)7870 592 919>
Autonomous Conditional Monitoring for Extreme Machines and Conditions