AssetCool Raises €11.5M to Boost Global Grid Efficiency with Robotic Tech

Leeds-based DeepTech company AssetCool has secured €11.5 million in a Series A round to accelerate the global rollout of its innovative robotic and coating technologies for power grids. The round was led by Energy Impact Partners (EIP) and joined by Extantia Capital, Taronga Group, and Northern Powerhouse Investment Fund, alongside support from Kero Development Partners and Northern Gritstone.

Founded in 2016, AssetCool focuses on enhancing aging energy infrastructure through a combination of robotics and advanced nanomaterials. The company’s flagship platform, CapacityN, applies thermal-management coatings directly to new or existing overhead power lines using intelligent robots. These robots are designed to overcome key issues like limited transmission capacity, corrosion, and noise, all while collecting and analyzing physical data through AI-driven tools.

AssetCool claims its coating solutions can boost the capacity of overhead lines by up to 30%, offering a cost-effective alternative to traditional infrastructure upgrades. According to the company, its solution can be deployed up to 20 times cheaper and much faster than conventional methods—providing a much-needed response to the mounting problem of grid congestion as global electricity demand continues to grow.

CEO and Co-founder Dr. Niall Coogan, a PhD holder from the University of Manchester and expert in chemistry and power networks, emphasized the company’s mission to improve grid efficiency without rebuilding the system from scratch. AssetCool’s innovation lies at the intersection of materials science and robotics, aiming to extend the life and performance of existing infrastructure rather than replacing it.

EIP Principal Sam Bursten expressed confidence in the company’s growth potential, noting its capacity to deliver upgrades more swiftly and affordably than other solutions. The new investment will enable AssetCool to scale internationally, helping transmission network operators meet the urgent need for energy upgrades during the transition to cleaner power sources.

With a technically diverse team of experts in physics, mechatronics, synthetic chemistry, and computer science, AssetCool is uniquely positioned to redefine the standards of energy infrastructure modernization worldwide.