In a groundbreaking stride toward enhancing energy efficiency, UK-based climate tech firm AssetCool is poised to redefine the way power lines function. With a focus on developing robust photonic materials-based coatings, AssetCool's cutting-edge innovation targets to cool overhead power lines, heralding a new era for electricity networks.
The conventional grid's energy transmission process is undergoing a transformative shift, and AssetCool's pioneering technology stands at the forefront of this revolution. Their innovative coating, built on durable photonic materials, holds the potential to revolutionize energy networks. By effectively reducing energy losses, costs, and emissions, this coating emerges as a game-changer in boosting the performance of electricity grids.
But it doesn't stop there. AssetCool has gone beyond theory, offering practical solutions for existing electricity networks. Their arsenal includes techniques that enable retrofitting of power networks, leveraging ingenious methods such as the deployment of aerial coating robots. This speaks to the firm's commitment to not just ideate but to implement.
The recent announcement of AssetCool's successful £2.25 million Series A funding round, led by Northern Gritstone and supported by existing shareholders, including the Northern Powerhouse Investment Fund managed by Mercia Asset Management and Kero Development Partners, underscores the profound impact of their innovation.
Duncan Johnson, CEO of Northern Gritstone, highlights the pivotal role AssetCool plays in the evolving energy landscape. With the world embracing sustainable modes of transport like electric vehicles, the demand for energy grids has reached a critical juncture. AssetCool's technology, he believes, offers a potent solution that can reshape energy transmission processes worldwide. The company's roots in the Universities of Manchester and Leeds further exemplify the vibrant technology ecosystem in Northern England.
Dr. Niall Coogan, Managing Director of AssetCool, who co-founded the business with Barry Johnston, who conceived of the original idea, envisions a future. This transformative approach holds the potential to facilitate global electrification efforts, supporting sustainable energy growth.
As AssetCool channels the fresh injection of funds toward the commercial rollout of their proprietary coating and the continued advancement of retrofitting techniques, their journey continues to illuminate the path toward an energy-efficient future. This innovation's far-reaching implications mark a significant milestone in the pursuit of sustainable energy solutions.
