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March 22, 2021
March 22, 2021
Powelectrics Ltd, the global connected sensor and Industrial Internet of Things (IIoT) solution provider, is delighted to announce a major investment by QVi (Quinn Venture Investments).
This deal buys out the Mercia Asset Management share-holding and significantly improves the company’s financial position, enabling further investment in R&D and growth in the sales, admin and technical teams.
Peter Quinn and John Higham have an impressive track record of developing established businesses and Powelectrics look forward to benefitting from their commercial insights and inspiration.
Dave Oakes, Powelectrics MD, told us:
“This is an exciting step for our business! QVi have recognised the potential for Powelectrics innovative and proven IIoT solution portfolio, dedicated team and broad industry connections.”
The timing is perfect! QVi offer Powelectrics the additional financial and commercial resource to capitalise on the amazing opportunities presented to IIoT specialists in a post-Covid environment. Vastly increased awareness of the benefits the IIoT can deliver means Powelectrics are perfectly positioned to help customers achieve operational savings, market differentiation and new revenue streams!
“I’d like to thank everyone involved in the Powelectrics journey so far and very much look forward to what lies ahead.”
Peter Quinn, of QVi, added “The possibilities for the Powelectrics technology are mind-blowing! Their technology and 30 years’ experience in sensing, instrumentation and communication has delivered huge benefits to early adopters.
They already deliver connected-sensor solutions globally, to a huge range of industries and applications … ensuring hospitals have oxygen, improving the reliability of trains, even optimising how much glue is used to make cardboard boxes.
Our plan is to bring our commercial expertise, building on Powelectrics’ strengths, to enhance the product offering and appeal.”
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