Perpetua Power Source Technologies, Inc. (“Perpetua”), a leading manufacturer of renewable energy solutions announced it has closed a $3 million investment led by current investors and joined by NextSteps Capital. Perpetua will utilize the funding to continue to enhance its products and expand its production capabilities.
“Perpetua is an ideal company for our investment. They have proven technology that has been in the market for many years, coupled with a management team that has the experience to grow the company,” said Tom Labrecque, Managing Director of NextSteps Capital. “With the growth in wireless sensing applications, Perpetua’s Power Pucks® have an expanding market opportunity and a strong base of support to build from.”
Perpetua supplies fully certified thermoelectric products that power wireless sensors. The Company’s breakthrough energy harvesting products deliver a new combination of renewable energy, power management and ease of installation for wireless sensors. By extending battery life, or replacing batteries altogether, Perpetua’s products enable wireless sensors to collect more data over a given time period and offer opportunities to effectively operate in a wider range of environments.
While there has been explosive growth in the use of wireless mesh networks in industrial applications in the last few years, users have had to balance the benefits of wireless monitoring with the cost of maintaining the batteries that power the wireless sensors (the more data collected, the more power required, the more batteries need to be replaced). Perpetua Power eliminates the trade-offs with environmentally friendly Power Pucks® that rely on temperature differences to generate long-life, continuous, renewable energy. A key benefit for customers is that near real-time data can be captured with rates as fast or even faster than every second, resulting in increased input for analysis and modeling, important to efficiently managing processes like enhanced oil recovery.
“This most recent round of financing will help us expand on several recent customer successes, particularly in the oil and gas sector, and increase our offerings to the market,” said Jon Hofmeister, Perpetua Power’s President. In addition, we are excited about the addition of NextSteps Capital as our newest investors.”
Perpetua is a leading provider of thermoelectric energy harvesting technology that enables wireless sensors to operate more cost effectively while providing near real-time data from remote sensors in industrial applications including applications requiring intrinsically safe certification. More information is available at the Perpetua website, www.perpetuapower.com
About NextSteps Capital
NextSteps Capital is a private equity firm that provides non-control growth capital to companies that have a competitive advantage and are at growth inflection points where an infusion of capital will make a significant difference in their trajectory. NextSteps Capital is a knowledge-driven organization, equally a research firm and a principal investor. From sourcing investment opportunities to assessing and mitigating risk, this research-driven culture provides the firm with better choices, supports smarter decisions, and leads to better results for NextSteps Capital and our portfolio companies. More information is available at the NextSteps website, www.nextstepscapital.com