AssetCool, a UK-based deeptech company, has raised £10 million (US$13.7 million) in a series A funding round.

The funding was led by Energy Impact Partners, with participation from Extantia Capital, Taronga Group, and the Northern Powerhouse Investment Fund, managed by Mercia Ventures.

The company’s technology aims to alleviate grid congestion.

It does so by enhancing the capacity of overhead power lines through advanced coatings and robotics.

According to AssetCool, its proprietary coatings can improve the thermal performance of these lines, potentially increasing capacity by up to 30%.

The new funding will support the company’s efforts to expand its operations globally.

🔗 Source: Tech.EU

🧠 Food for thought

1️⃣ Aging grid infrastructure creates a lucrative market for enhancement technologies

The timing of AssetCool’s innovation aligns with a critical infrastructure challenge, as many grid components are reaching the end of their operational lifespan.

According to industry data, the average age of power transformers in the U.S. is 38 years, with approximately 70% being older than 25 years, creating an urgent need for efficient upgrade solutions 1.

This aging challenge coincides with projected electricity demand growth of over 25% by 2050, with some regions like Texas potentially seeing demand nearly double due to electrification trends and data center expansion 1.

Traditional grid expansion methods would require massive capital expenditure across the 2.7+ million miles of U.S. power lines. This explains why utilities are eager for solutions that enhance existing infrastructure rather than replacing it 2.

AssetCool’s approach represents a shift in maintenance philosophy that addresses both the aging infrastructure problem and capacity constraints simultaneously, creating strong market timing.

2️⃣ Robotics for infrastructure maintenance represents an emerging cross-industry pattern

AssetCool’s robotics-based solution follows a growing trend of specialized robots being deployed for critical infrastructure maintenance across multiple sectors.