AssetCool Secures £10 Million for Grid Capacity Innovation
In a groundbreaking move for the energy sector, AssetCool has successfully secured a remarkable £10 million Series A funding round, setting the stage for major technological advancements in grid capacity. This Leeds-based deep tech company is not just a player; it's a game-changer, spearheading the evolution of advanced robotics and protective coatings for power lines in a bid to tackle one of the industry's most urgent challenges: grid congestion. With the appetite for electricity rising rapidly, AssetCool’s innovative solutions promise to enhance grid resilience, and their success in attracting top investors like Energy Impact Partners (EIP) and Extantia Capital is a testament to their vision.
AssetCool's proprietary technology is a leap forward for the energy transition.
Conventional grid upgrades are often hampered by cost and time constraints, yet AssetCool offers a transformative approach to enhancing existing infrastructure. By developing advanced coatings that can increase overhead line capacity by up to 30%—and at a cost significantly lower than traditional methods—they are setting new industry standards. Dr. Niall Coogan, CEO and co-founder, states, “We are laser-focused on doing the hard yards to improve the physical layer of the grid.” With this funding, AssetCool aims to deploy its groundbreaking robotic platform, "CapacityN," to expand its reach and operational efficacy across global markets.
As a result of this substantial backing, AssetCool is poising itself for rapid growth in a competitive sector where investors are on the lookout for innovative solutions. The company is cementing its position as an essential tool for utilities worldwide, seeking to modernize power lines without the traditional long lead times and hefty expenses associated with grid upgrades. With a talented team of experts from diverse fields and existing partnerships with multiple utilities, AssetCool is not only revolutionizing grid upgrades but is also providing an attractive investment opportunity for stakeholders in the clean energy ecosystem. By connecting advanced robotics with functional coatings, investment in AssetCool represents a forward-thinking strategy for both founders and investors ready to capitalize on the future of energy.
Key Terms Explained
- Series A funding round
- The first significant round of venture capital financing for a startup. It is named after the class of preferred stock sold to investors in exchange for their investment. It is typically used to further a proven product or service.
- Proprietary technology
- Technology or software that is owned exclusively by a single company or individual, providing them with a competitive advantage.
- Grid congestion
- Grid congestion occurs when there is an excess of demand for electricity from the grid at peak times. It is considered a major issue in the energy industry, which can be addressed by improving and updating infrastructure.
Frequently Asked Questions
- How much funding did AssetCool secure in its Series A round?-AssetCool secured a substantial £10 million in its Series A funding round.
- What are the investors attracted to in AssetCool?+
- What makes AssetCool's proprietary technology significant in the energy sector?+
- What does the significant investment allow AssetCool to do?+
- How does the investment in AssetCool benefits the investors ?+
They've invested in AssetCool
Get to know these Energy investors
| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Energy Impact Partners | 3 investment(s) investment(s) | 44 contacts contacts | |||
2 |  Extantia Capital | 2 investment(s) investment(s) | more info | |||
3 |  Taronga Group | 1 investment(s) investment(s) | more info | |||
4 |  Kero Development Partners | 1 investment(s) investment(s) | more info | |||
5 |  Northern Gritstone | 13 investment(s) investment(s) | more info |
Click here for a full list of 6,908+ startup investors in the UK