The UK-based climate tech has raised a £2.25 million Series A funding round which was led by Northern Gritstone and includes existing shareholders Northern Powerhouse Investment Fund, managed by Mercia Asset Management and Kero Development Partners.
Developing a durable photonic materials-based coating, AssetCool wants to cool down overhead power lines. The coating is said to increase the performance of electricity networks as it reduces energy losses, costs and emissions. It has also developed techniques to retrofit existing electricity networks, including through the use of aerial coating robots.