AssetCool secures £10m Series A funding led by Energy Impact Partners to scale grid upgrade technology
The oversubscribed round was led by Energy Impact Partners with backing from several climate and technology investors.
AssetCool is a deep tech business developing advanced robotics and functional coatings designed to upgrade power transmission lines. Its proprietary technology increases grid capacity and efficiency without the need for traditional infrastructure overhauls.
Leeds-based deep tech firm AssetCool has secured £10m in a Series A funding round to scale its proprietary robotics and power line coating technology globally. The oversubscribed financing was led by Energy Impact Partners, with participation from Extantia Capital, Taronga Group, and existing backer Northern Powerhouse Investment Fund through Mercia Ventures, alongside additional support from Kero Development Partners and Northern Gritstone.
The capital will support the company as it seeks to address pressing grid congestion challenges faced by energy operators worldwide. AssetCool applies nanomaterials via its specialized robotic platform to boost overhead line capacity significantly faster and more cost-effectively than conventional grid upgrades.
From the founder
"We are laser-focused on doing the hard yards to improve the physical layer of the grid, specifically overhead systems. The AssetCool team is innovating at the nexus between robotics and materials science to bring meaningful improvements to an aging network. We’ve developed a new range of coatings systematically optimised for overhead lines that makes the grid more efficient and resilient – not by rebuilding it, but by enhancing what already exists."
Niall Coogan
CEO and co-founder at AssetCool
Investor perspective
"AssetCool stands out in the market with its ability to deliver firm capacity upgrades faster and more cost-effectively than any alternative we’ve seen. We’re excited to partner with the AssetCool team and support their global growth, leveraging our strategic utility network to help them scale."
Sam Bursten
Principal, Energy Impact Partners
Use of funds
- 01Expand into international markets
- 02Continue product development
Investors
Sam Bursten
Energy Impact Partners
Extantia Capital
Taronga Group
Northern Powerhouse Investment Fund
Mercia Ventures
Kero Development Partners
Northern Gritstone
Categories
About the company
AssetCool
AssetCool builds advanced robotics and coatings to upgrade power grid capacity.