Leeds-based AssetCool has secured €11.5M in an oversubscribed Series A round led by Energy Impact Partners (EIP), alongside Extantia Capital, Taronga Group, and the Northern Powerhouse Investment Fund via Mercia Ventures.
Other backers include Kero Development Partners and Northern Gritstone.
Boosting grid performance with robotics and materials science
AssetCool is pioneering nanomaterial-based coatings and robotic deployment systems to enhance the capacity of overhead power lines by up to 30%, offering a solution that’s up to 20x cheaper than conventional upgrades. Its proprietary “CapacityN” robots apply the coatings and collect operational data to optimize grid performance.
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A cost-effective answer to energy transition challenges
“Our tech helps grid operators increase resilience and efficiency without replacing infrastructure,” said CEO Dr. Niall Coogan. The startup’s coating systems are already in use globally, supporting utilities in expanding capacity faster and more affordably than traditional methods.
Backed for growth and impact
EIP’s Sam Bursten praised AssetCool’s unique position in the market, calling it the most efficient solution they’ve seen for scalable grid upgrades. The new capital will accelerate the company’s global expansion and product development, following a £500K Innovate UK grant in 2024.
