AssetCool, a UK-based deeptech company pioneering advanced robotics and coatings for power lines, raised a £10 million Series A funding round to scale its proprietary robotics technology globally.
This innovation addresses one of the most pressing bottlenecks in today’s energy transition: grid congestion. As demand for electricity surges, grid operators are under increasing pressure to boost transmission capacity quickly and affordably. At the same time, the existing infrastructure is ageing, and conventional methods to increase capacity, whilst critical for the energy transition, are slow, costly, and logistically challenging.
AssetCool’s proprietary coating platform offers a disruptive alternative, capable of increasing the capacity of overhead lines by up to 30 per cent with a solution that’s up to 20 times cheaper and deployable in a fraction of the time.
Dr. Niall Coogan, CEO and co-founder of AssetCool, said:
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.
By applying advanced nanomaterials directly on new or existing overhead conductors, AssetCool increases the lines’ thermal performance.
The fast application of AssetCool’s advanced coatings on existing grid infrastructure is made possible thanks to AssetCool’s “CapacityN” robotic platform. These robots can deploy a range of functional coatings to address common constraints on overhead lines, including limited capacity, noise, and corrosion. They also provide an agile platform for additional services based on the collection of physical data and analysing it with AI, turning data into actionable insights.
The oversubscribed round was led by Energy Impact Partners (EIP), with participation from Extantia Capital, Taronga Group, and existing investor Northern Powerhouse Investment Fund, managed by Mercia Ventures. This new funding builds on the support of additional investors, including Kero Development Partners and Northern Gritstone.
Sam Bursten, Principal at EIP, said:
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.
By building and deploying both advanced coating and robotic systems, AssetCool is set to become a dominant player in the grid upgrade value chain. This includes everything from formulating novel coatings to applying them on new and existing overhead lines, as well as ongoing performance validation.
AssetCool has already successfully deployed its technology with multiple utilities around the world, and is positioned to become an essential tool for any grid operator seeking to increase grid capacity and resilience, without the long lead times or cost burdens of traditional infrastructure upgrades.
Lead image: AssetCool founder, Dr. Niall Coogan | Photo: Uncredited
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