AssetCool

The oversubscribed round was led by Energy Impact Partners (EIP) with participation from Extantia Capital and Taronga Ventures alongside existing investor NPIF – Mercia Equity Finance, which is managed by Mercia Ventures as part of the first Northern Powerhouse Investment Fund (NPIF).

AssetCool addresses one of the most pressing issues in the energy transition – how to boost the capacity of aging infrastructure to meet the growing demand for electricity. 

Its advanced coatings improve the performance of overhead lines, increasing capacity by up to 30% at a fraction of the cost of conventional methods.  

The coatings can be rapidly applied to existing lines using AssetCool’s robotic technology. 

They can also be used to address other common constraints such as noise and corrosion, and to collect data to provide actionable insights.  

AssetCool was founded in 2016 by Dr Niall Coogan based on his research at the University of Manchester.

The company was backed from an early stage by NPIF and Mercia, which were joined by Kero Development Partners and Northern Gritstone. 

Now based at the University of Leeds campus, AssetCool employs a 20- strong team and has successfully deployed its technology with utilities around the world. 

The funding will enable it to scale globally and create 15 new jobs in the next 18 months.