June, 2025 Leeds, United Kingdom

AssetCool, a deep tech company developing advanced robotics and coatings for power lines, has raised £10M in an oversubscribed Series A round. The round was led by Energy Impact Partners (EIP), with backing from Extantia Capital, Taronga Group, and existing investor Northern Powerhouse Investment Fund (via Mercia Ventures). Kero Development Partners and Northern Gritstone also joined the round.

“We are laser-focused on doing the hard yards to improve the physical layer of the grid, specifically overhead systems,” said Dr. Niall Coogan, CEO and co-founder of AssetCool. “The AssetCool team is innovating at the nexus between robotics and materials science to bring meaningful improvements to an aging network. We’ve developed a new range of coatings systematically optimised for overhead lines that makes the grid more efficient and resilient - not by rebuilding it, but by enhancing what already exists.”

“AssetCool stands out in the market with its ability to deliver firm capacity upgrades faster and more cost-effectively than any alternative we’ve seen,” says Sam Bursten, Principal at EIP. “We’re excited to partner with the AssetCool team and support their global growth, leveraging our strategic utility network to help them scale.”

By building and deploying both advanced coating and robotic systems, AssetCool will become a dominant player in the entire grid upgrade value chain, from formulation of novel coatings to deployment on new and existing overhead lines and ongoing performance validation. AssetCool has already successfully deployed their technology with multiple utilities around the world and is positioned to become an essential tool for any grid operator seeking to increase grid capacity and resilience, without the long lead times or cost burdens of traditional infrastructure upgrades.

About AssetCool

AssetCool develops advanced robotics and functional coatings for energy grid infrastructure. Its core platform increases the capacity and efficiency of power lines through direct external application of proprietary thermal-management nanomaterials. In addition, the company is equipped to solve additional problems that grid operators are facing including noise, corrosion and other O&M challenges of the line.