GenDrive attract investor support for TOTUS

Gendrive have successfully closed an investment round which enables them to accelerate the development and commercialisation of their innovative TOTUS product. TOTUS is the most adaptable range of Grid Connected Inverters available and which can be configured simply and automatically for connection to a wide range of renewable energy devices. It allows users to generate electricity from their systems (wind, solar or other devices) at low speed or low voltage and maximise revenue from each site.

Dubbed one of eight "Future Leaders in Energy" by AngelNews magazine, Gen- Drive is now making energy generation at local level more economic by ensuring that energy is captured at much lower operating levels than previously possible. The business was co-founded by Damyn Musgrave and Nigel Jakeman, both of whom have engineering PhD's from the University of Sheffield, and they have worked tirelessly on the design and development of the range of products whilst navigating the choppy waters of the fundraising process.

Nigel noted that "Raising investment in the current climate was not an easy task to complete and our investors were quite demanding in what they wanted to see from us. None of the things they required were unreasonable and we respected them for that and I think that the way we responded gave them the comfort they required."

Nigel was particularly pleased that an investor that they met through TVIN took the lead and drove the whole process through to a satisfactory conclusion for all involved. "We met Tom Flynn through TVIN and he quickly saw the potential of the products and the business but we needed to address some of the technical issues that were outstanding before he would commit to invest in the business. When he was satisfied with this, he became the focal point for the investment syndicate that was forming and his input was key in reaching an agreement with those concerned."

The business is now well placed to capitalise on the market opportunity its products open up and we look forward to following their progress in the coming months.