Home storage supplier Moixa is seeking crowd funding of up to £2 million to commercialise its Maslow energy storage system.
So far Crowdcube investors have provided £135,000 of an initial tranche of £850,000 – see details here.
The wall-mounted system has been the subject of UK trials with £1.5 million of funding from the Department of Energy and Climate Change (Decc). That allowed systems to be installed at 250 sites, both individual properties with solar and larger installations – Moixa has been working with housing associations and councils including Colchester, which already has systems installed and said it wanted to complete a phase of installation that would “open about 1,000 homes to PV, avoiding distribution network operator (DNO) constraints”.
Chief executive Simon Daniel told New Power that 60% of the funding raised, through a Crowdcube offering now opened, would be used for the Maslow product. Sales in the UK would be aimed at backfitting the 500,000 domestic properties that now have PV installed and offering storage, alongside up to £100,000 of new installations each year.
The company plans to sell direct and “white label” its product through utility sales. It aims to have 140,000 sites in the UK by 2020.
The wall-mounted Maslow unit has storage of 3kWh and can be “stacked” for larger installations. Daniel said the company was “agnostic” on the battery at
its heart as battery technology was evolving and “battery chemistry is not good enough today”. In fact, he foresaw potential free battery replacements for storage systems funded by the ability to provide extra grid services.
Key to the product are control systems, which as well as enable the unit to store and discharge according to local conditions, have remote control. Moixa also has remote management of all the units and can aggregate response: it is working with Tempus Energy on load shifting and with Kiwi Power to provide storage into National Grid’s Short Term Operating Reserve (Stor) market.