AssetCool Raises £10m in Global Investment
Deal News | Jul 03, 2025 | Business Cloud
AssetCool, a Leeds-based energy technology firm, has successfully raised £10 million in a Series A funding round supported by prominent global energy investors. The company focuses on increasing the capacity of overhead power lines to address grid congestion, a significant issue in the energy transition. Utilizing advanced coatings that can boost line capacity by up to 30% at minimal cost, AssetCool offers a swift application process using its robotic technology. This funding round, which was oversubscribed, was led by Energy Impact Partners, joined by Extantia Capital and Taronga Ventures, along with existing investors NPIF and Mercia. Established in 2016 by Dr. Niall Coogan at the University of Manchester, AssetCool aims to expand its global presence and grow its workforce from 20 to 70 staff members in the next two years. Operating at the intersection of robotics and materials science, AssetCool continues to enhance grid efficiency and resilience by optimizing existing infrastructure rather than reconstructing it.
Sectors
- Energy Technology
- Robotics
- Materials Science
Geography
- United Kingdom – AssetCool is based in Leeds, UK, and is actively contributing to the country's energy sector innovations.
- Global – The funding raised is aimed at scaling AssetCool's operations globally, and its technology is already deployed with utilities worldwide.
Industry
- Energy Technology – AssetCool operates within the energy technology sector, focusing on solutions that enhance grid efficiency and capacity through innovative coatings for power lines.
- Robotics – AssetCool uses robotic technology to apply its advanced coatings to power lines, making the process swift and efficient.
- Materials Science – The development of coatings at AssetCool involves materials science to improve the performance of power lines, addressing issues like noise and corrosion.
Financials
- £10 million – Total amount raised by AssetCool in its Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AssetCool | Target Company | Company | A Leeds-based company specializing in increasing the capacity and efficiency of power lines to tackle grid congestion. |
| Energy Impact Partners (EIP) | Lead Investor | Company | A prominent global energy investor leading the Series A funding round for AssetCool. |
| Extantia Capital | Investor | Company | A participant in AssetCool's Series A funding round. |
| Taronga Ventures | Investor | Company | A participant in AssetCool's Series A funding round. |
| NPIF - Mercia Equity Finance | Investor | Company | An existing investor in AssetCool, part of the Northern Powerhouse Investment Fund and managed by Mercia Ventures. |
| Dr. Niall Coogan | Co-founder | Person | Co-founder of AssetCool, initiated the company while completing a PhD at the University of Manchester. |