QPT tops £1m in crowdfunding for GaN power modules
UK power startup QPT has passed £1m in its crowdfunding campaign.
The Crowdcube funding round by QPT in Cambridge aims to support the development and production of its high speed gallium nitride motor control modules ahead of a Series A funding round.
QPT was initially looking to raise £500,000 and the £1m (€1.16m, $1.26m) threshold is significant for a European crowdfunding site that is open to a wide range of retail investors to demonstrate the wider interest in the technology with over 500 backers. The company had already raised £634,366.93 as part of this round to scale up production of its modules in the UK and Portugal plus global filing of 12 patents.
- New CEO for funding boost
- AI boosts GaN performance to 20MHz
- QPT, GaN Systems team
- £500000 crowdfunding round opens for GaN power
The average raise on Crowdcube is £450,000, and has included sensor maker Nanusens and battery material supplier Cornish Lithium.
“QPT has a perfect combination of an amazing technology that can cut the power consumption of electric motors by 10% thereby providing a way to actively help reduce climate change and a management team of veterans of the GaN industry,” said Rupert Baines, QPT’s new CEO.
“The QPT qGaN technology is a unique solution for the issues of overheating and RF interference that currently limit the speeds that GaN can be driven at. Now GaN transistors can be run at much higher speeds that any other rival technology, 20 times faster than SiC for example.”
- European equity crowdfunding platforms to merge .
- Tax break draws crowdfunding Nanusens to UK
- £53m boost for Cornish Lithium .
“The higher the speed, the less power is wasted in the motor control which can be very significant and the power savings rapidly add up as 45% of the world’s electricity is used by electric motors in industry, transportation, heat pumps and electric vehicles. Our solution is smaller with a significantly lower system cost and saves more energy than rivals according to our studies,” he added.
www.q-p-t.com/investor-overview
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