AssetCool, a Leeds-based deep tech company pioneering advanced robotics and coatings for power lines, raised a Series A funding round to scale its proprietary robotics technology globally. 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.
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 aging, 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% with a solution that’s up to 20 times cheaper and deployable in a fraction of the time.
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.
AssetCool’s rapidly growing team brings together a unique mix of expertise. The technical team includes PhDs in Physics, Mechatronics, Synthetic Chemistry, and Computer Science, combined with strong real-world experience. Co-founder and CEO Niall Coogan holds a Master’s in Chemistry and a PhD from the Power Networks Centre (CDT program) from the University of Manchester.
By building and deploying both advanced coating and robotic systems, Leeds-based AssetCool aims to become a dominant player in the entire grid upgrade value chain, from formulation of novel coatings to deployment on new and existing overhead lines and ongoing performance validation. AssetCool has already successfully deployed its technology with multiple utilities around the world, and seeks 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.
