Full&Fast, a Spanish company developing energy accumulation systems to replace traditional diesel engine gen-sets and generators, has completed a crowdfunding round in which it has raised €375,000, the maximum legal amount allowed considering that the initial target was set at €300,000.
Full&Fast was born in 2017. According to Fellow Funders’ Crowd Investment division and its crowdfunding platform, which is where the Spanish company has raised 375,000 euros, Full&Fast aims to improve the cost of fossil energy (kWh) production by developing 100% sustainable equipment for companies related to transportation and electric mobility, and for users who do not have another form of power supply because they are in a remote location.
The capital raised is earmarked for technology development, co-financed by the Ministry of Industry (IDAE) and the Secretariat of Innovation of the Community of Madrid, and the expansion of the commercial team of Full&Fast, expecting “great growth” in the clean energy market in the coming years.
Its current business model focuses on selling third-party power equipment and components on an exclusive basis. However, the company expects to commercialize its own equipment in the 50kW and 100kW power range by 2023 and 2024, respectively.
Other media that have echoed the news: El Referente, Agenda de la Empresa, Capital Riesgo, Economía de Hoy