AssetCool
Overview
AssetCool is a UK-based deep tech company specializing in advanced robotics and coatings designed to enhance the capacity and performance of power lines. Founded in 2016 by Dr. Niall Coogan, the company is headquartered in Leeds, United Kingdom. AssetCool's innovative technologies are pivotal in addressing grid congestion and improving existing infrastructure without costly replacements. Recently, the company successfully secured £10 million in Series A funding, bolstering its financial base for scaling operations globally.
Recent Developments
- July 2025: AssetCool raised £10 million in a Series A funding round led by Energy Impact Partners (EIP), with significant contributions from Extantia Capital, Taronga Group, and existing investors like the Northern Powerhouse Investment Fund. This financing will facilitate the global deployment of AssetCool’s proprietary robotics technology and coatings designed for grid improvements.
- March 2025: The company announced collaborations with leading utilities in Europe, Asia, and North America for commercial deployments. These initiatives aim to increase grid capacity by up to 30% using AssetCool’s nanomaterial coatings and robotic systems, which are 20 times more cost-effective than traditional upgrades.
- July 2024: AssetCool secured a €500,000 Innovate UK Smart Grant to accelerate the development of next-generation in-situ coating robots. This grant will enhance the company’s capability to provide coatings that address multiple challenges such as ice accretion and corona noise reduction.
- January 2024: AssetCool initiated pilot projects across Canada, Slovenia, and Nepal, demonstrating the effectiveness of its coatings and robotics in various climatic and operational conditions. These projects are foundational for broader scale-ups.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2016 |
| Headquarters | Leeds, United Kingdom |
| Founders | Dr. Niall Coogan |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Energy Impact Partners, Extantia Capital, Taronga Group, Northern Powerhouse Investment Fund |
| Industry | Energy Technology, Robotics, Industrial Supplies |
| Number of Employees | Approximately 25, projected to grow to 70 in the next two years |
Early History
AssetCool was founded in 2016 by Dr. Niall Coogan, leveraging his academic research at the University of Manchester’s Power Networks Centre. The company was conceptualized to address the looming bottlenecks in electrical transmission systems, foreseen due to increasing energy demands and aging infrastructure. From its inception, AssetCool prioritized the development of photonic coatings capable of significantly enhancing power line capacity. Over time, the company integrated advanced robotics, enabling efficient and cost-effective solutions to existing grid systems, setting the stage for its initial funding rounds and expansion efforts.
Company Profile and Achievements
AssetCool operates at the intersection of robotics and material science, focusing on enhancing power grid infrastructure. Its proprietary platform increases the capacity of power lines by applying advanced thermal-management nanomaterials. This technological edge allows for an up to 30% increase in capacity without the extensive costs and time required for traditional grid upgrades.
- 2018: AssetCool's novel coatings were rigorously tested, showing potential to significantly cool and enhance power lines, prompting early-stage funding from investors like Northern Gritstone.
- 2020-2023: The company launched several pilot programs internationally, partnering with utilities to refine their approach and validate results under diverse environmental conditions.
- 2024: The receipt of a Smart Grant from Innovate UK marked a milestone, recognizing AssetCool’s potential in revolutionizing grid enhancement through robotics and coatings.
AssetCool’s approach involves robots that apply coatings to live power lines, dynamically increasing capacity and solving issues like noise and corrosion. These innovations not only improve line performance but also offer ancillary services such as data collection for operational intelligence, analyzed via AI.
Current Operations and Market Position
AssetCool is presently expanding its market presence globally, focusing on commercial deployments in Europe, North America, and Asia. The company’s operations include enhancing the thermal performance of overhead lines by applying nanocoatings via its CapacityN robotic platform. AssetCool stands out with a unique value proposition: rapid and cost-effective capacity expansion of existing power lines without the need for extensive infrastructure overhaul. This approach positions AssetCool as a pivotal player in meeting global energy transition demands efficiently and sustainably.
Conclusion
AssetCool’s innovation in nanomaterials and robotics offers substantial improvements to energy transmission networks, addressing critical grid capacity challenges. As energy demands surge worldwide, AssetCool provides a cost-effective solution to enhance current infrastructures, avoiding prohibitively high reconstruction costs. Its advancements in the field of photonic coatings and deployment technologies position AssetCool as an influential entity in the global transition to more efficient and resilient energy systems. With significant financial backing and robust international partnerships, the company is well-poised to expand its impact across the globe, aligning technological innovation with future energy needs.