2 years ago

AssetCool Secures £2.25M to Reduce Energy Waste with Photonic Coating

  • AssetCool, a University of Manchester spinout, has raised £2.25 million in Series A funding to commercialize its photonic coating technology that reduces energy waste in power lines

  • The round was led by Northern Gritstone, with participation from Mercia-managed Northern Powerhouse Investment Fund and Kero Development Partners

  • The Leeds-based company will use the funding to commercialize its technology and expand its robot fleet for retrofitting existing power lines.

      • ProblemEnergy

      "Electricity grids face bottlenecks as demand surges, making it costly and inefficient to add transmission capacity."

      Solution

      "AssetCool's photonic coating for power lines reduces energy loss and heat, increasing grid capacity and efficiency, while their robots enable easy retrofitting of existing infrastructure."

      Covered on