25th July, 2024 Leeds, United Kingdom

AssetCool, a leader in the development of photonic and functional coatings for overhead transmission and distribution lines, is thrilled to announce it has secured £450,000 in funding from the Innovate UK Energy Catalyst Round 10. This grant will be used to fund demonstration of the next generation of in-situ coating robots, enhancing the application of coatings that provide capacity enhancing, anti-corrosion, ice accretion, and corona noise reduction benefits.

This funding will enable AssetCool to deploy its CapacityN system at larger scale, delivering value to utilities in the region with rapidly increasing electricity demand and concomitant transmission and distribution constraints.

Dr Niall Coogan, CEO of AssetCool, commented on the funding: "We are grateful to receive further backing of Innovate UK to pilot technologies in South Asia. We intend to rapidly and iteratively deploy the technologies at increasing scale, confirming the value proposition that we can rapidly reduce the costs of uprating overhead lines. We thank Innovate UK for their confidence in our technology and look forward to executing successfully on this project."

Innovate UK, the UK’s innovation agency, funds and supports the most promising and cutting-edge innovations to drive economic growth and productivity. The £500,000 Energy Catalyst Round awarded to AssetCool underscores the agency's commitment to fostering disruptive technologies that have the potential to transform the way overhead power lines are maintained and uprated.

About AssetCool

AssetCool is at the forefront of developing advanced photonic and functional coatings for overhead conductors. These coatings, including the flagship products SE01 and SE02, significantly enhance the performance and capacity of electrical grids by maximizing solar reflectivity and thermal emissivity. AssetCool’s innovative solutions address critical challenges such as capacity, noise reduction, and environmental resilience, driving the industry towards a future of increased efficiency and sustainability.

The application of AssetCool’s technology in-situ offers a potential cost-saving of 95% relative to traditional reconductoring methods, highlighting its economic and practical advantages. This data sets the stage for broader deployment, promising a transformative impact on the utility industry by enhancing the efficiency and reliability of power transmission and distribution.