John Kennedy, CEO of Q-Bot Limited, a NetScientific PLC (AIM:NSCI) portfolio company, joined Proactive's Thomas Warner with details of its innovative home insulation product and its recent fundraising success.
Q-Bot has developed a small robot designed to improve energy efficiency in homes with voids, particularly Victorian houses. The robot applies insulation to the underside of floorboards, resulting in a remarkable 20% increase in energy efficiency.
Q-Bot's clientele ranges from individual homeowners looking to save energy and enhance home comfort to registered social landlords (RSL) aiming to improve the efficiency and warmth of their housing stock.
The company recently raised £3.5 million in funding, with plans to produce a fleet of around 90 robots by March 2024. These funds will also be allocated to sales and marketing efforts and strengthening the management team.
NetScientific's investment in Q-Bot is driven by its commitment to innovation and high-growth potential. Kennedy highlighted the significant market potential, estimating a £20 billion market in the UK alone, with the potential for even greater growth in the US and EU markets.
He also addressed a common misconception, emphasizing that Q-Bot's underfloor insulation solution offers a cost-effective and highly efficient way to improve energy efficiency, challenging the belief that other home improvements take precedence.
With ambitious growth plans, Q-Bot is set to make a significant impact on the energy efficiency market, with the CEO confident in the company's ability to communicate the benefits of its innovative solution.