Hycube

Idea

Introduction

Hycube Technologies exists to build world-class energy storage systems – taking energy from solar panels and storing it for later use in your home or business.

This means you can store cheap clean energy during the day, and use it at night, or whenever you need it. It also means you have electricity if there is a power cut in your area, which is important for developing countries.

Whilst some storage products are very basic, our products have high levels of home integration, expandability and intelligence that separate us from the competition, including major brands like Tesla.

Currently, we have 3 products that can all be used for home or for small businesses:

Our products provide a simple to install, all-in-one housing that enables the addition and removal of batteries. A user interface, on the unit / via mobile / “MyHycube.com”. A power failover mechanism and a Home Energy Management System that can interface with electric vehicles, sockets, heating and intelligently prioritize their use.

Intended impact

The company was formed to specifically address 4 market opportunities:

- Global climate change and the pressure on governments, businesses and consumers to be more energy efficient.

- A reduction / complete removal of Feed In Tariff’s (FIT’s) which governments pay to solar panel owners, driving many solar owners to store rather than sell their energy.

- Reduction in cost of battery hardware and the desire for many people to become “energy independent” by using their own self-produced energy

- Grid instability in developing worlds, requiring stored energy solutions as a backup.

Substantial accomplishments to date

Profit break even was reached in May 2019.*

>440 units sold so far, in Germany, United Kingdom, Italy, Switzerland, and South Africa.

* Contains unsold/unfinished inventory value in revenue figures in accordance with local accounting standards

Engineering Achievements:

o Design and Engineering of 3 Hybrid Smart Storage Systems (e.Compact,e.Active,tri.Active).

o Development of a Home Energy Management Software networking with the Battery Management System (BMS) in each single battery rack to control the entire energy flow in the building including EV Charger, radio controlled sockets, immersion heater etc.

o “On Box” control system with touch screen GUI.

o Development of a web portal, and mobile apps with real time monitoring.

Production design and build efforts have resulted in:

o Setup Test Stand for Quality Assurance (QA).

o Regulatory certification.

o Setup of the production line.

Marketing efforts to date include:

o Branding.

o Training of sales team members.

o Development of a CRM system.

o Creation of a marketing website with configuration options for the customer for online sales.

o Initial marketing activities such as PV trade fairs (Intersolar Munich) to promote the product to installers and wholesalers side.

Monetisation strategy

Hycube makes money by selling our storage solution products.

So far we have sold over 440 units with a total combined revenue of over EUR 5m**. Each Hycube can be configured for the customer in terms of model and capacity. It is possible to chain several together if a customer wants a lot of power and this results in a sale worth many tens of thousands.

So far, we have concentrated only on SW Germany. Our intention now is to market across all German speaking territories (Germany, Austria, Switzerland), and form distribution agreements for Europe, Asia and the US.

As one example, we are currently finalising a sales agreement with Hornbach, Germany’s largest DIY chain to have a Hycube stand in their stores. Hornbach also have stores across the rest of Europe, including the Netherlands, Czech Republic, Sweden, Slovakia and Romania.

Several other discussions are taking place with similar businesses outside Germany to extend our global reach.

** Revenue includes €195,347.19 of capitalised costs which are also included in the administrative expenses, and hence net off in the overall result. This accounting treatment is also compliant with local and UK GAAP.

Use of proceeds

We intend to use the raised capital as follows:

Perks

We are offering the following discounts to registered Seedrs investors who buy a Hycube from us:

Invested Amount (Euros) Discount
================== ==========
750 or above___________3%
5,000 or above_________Additional 3%
10,000 or above________Additional 3%

- This offer is time limited to 2 years from the close of the funding round
- The discount does not apply to installation costs or shipping, only to the unit cost before local taxes
- The discount applies only to units purchased directly from Hycube and not from other retailers, installers or wholesalers
- The discount cannot be combined or used in conjunction with any other promotion from Hycube

Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.