There is no version of reality in which I expected to find an email from IQ² indicating that they still exist, and are starting production for the power meter pedal* that I backed 4 years ago (?). NGL, it’s been so long since the last update, I just assumed that they had gone bankrupt so quickly that the lights got turned off before anyone could setup a dead-man’s switch.
This is awesome news, although, TBH I’m not sure what I’m going to do with them assuming that they actually arrive. I don’t need another set of power meter pedals, now… It’s been 4 years… I’ve scratched that itch a few times :).
If this actually happens, there is some great news for the larger market if they can deliver a single-sided PM for $150.
* Originally it was a power meter shim that sat between the pedal of your choice, and the crank. Reality made that impossible, and now it’s a pedal based system.
We have very good news!
FINALLY, we have figured out the last pieces of our puzzle and can start limited production in three weeks . This long-awaited update will share where we are today and how we will fulfil all our commitments. Firstly, thank you for your patience and secondly, our deepest apologies for the lack of communication. We can now share more details about what caused the many delays of the industrialization process.
What has happened
We had to overcome many challenges with the quality and reliability of our original supplier base. This included some legal challenges. All of this has caused an unforeseen and unsurmountable increase in development and production costs.
Our efforts to solve these major setbacks were further impacted by the global corona crises. Needless to state that the company ended up in a financial crisis. All efforts to attract potential investors eventually failed due to an increase in negative media attention.
We will start shipping
But finally, we are happy to share that we have overcome most of these challenges. We finally have secured a very reliable production partner. As a result, we can sell our left only power meter set nearly as cheap as a high end regular bike pedal set: €179 incl. tax, excl shipping cost ($149.90 excl tax). This will allow many more fellow cyclists around the world to start using power meter pedals. The first limited batch can be shipped beginning 2023.
In order to manage the company’s cash flow challenges carefully, we are required to start selling limited volumes via our web shop and at the same time start ramping up shipment of our outstanding commitments. In our next update we will further explain how we plan to execute this strategy. We are very confident that we will have shipped all committed pledges by the end of August 2023.
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