Leeds, UK – June 2025 – AssetCool, a UK-based deep tech company pioneering advanced robotics and coatings for power lines, raised a Series A funding round to scale its proprietary robotics technology globally. The oversubscribed round was led by Energy Impact Partners (EIP), with participation from Extantia Capital,Taronga Group, and existing investor Northern Powerhouse Investment Fund, managed by Mercia Ventures. This new funding builds on the support of additional investors including Kero Development Partners and Northern Gritstone.
This innovation addresses one of the most pressing bottlenecks in today’s energy transition: grid congestion. As demand for electricity surges, grid operators are under increasing pressure to boost transmission capacity quickly and affordably. At the same time, the existing infrastructure is aging, and conventional methods to increase capacity, whilst critical for the energy transition, are slow, costly, and logistically challenging. AssetCool’s proprietary coating platform offers a disruptive alternative – capable of increasing the capacity of overhead lines by up to 30% with a solution that’s up to 20x cheaper and deployable in a fraction of the time.
“We are laser-focused on doing the hard yards to improve the physical layer of the grid, specifically overhead systems. 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.”
– Dr. Niall Coogan, CEO and Co-founder, AssetCool
By applying advanced nanomaterials directly on new or existing overhead conductors, AssetCool increases the lines’ thermal performance. The fast application of AssetCool’s advanced coatings on existing grid infrastructure is made possible thanks to AssetCool’s “CapacityN” robotic platform. These robots can deploy a range of functional coatings to address common constraints on overhead lines – including limited capacity, noise, and corrosion. They also provide an agile platform for additional services based on the collection of physical data and analysing it with AI, turning data into actionable insights.
“With AI and hyperscale datacentre growth pushing power grids to their limits – we’ve already witnessed brownouts from Madrid to California and restrictions on new facilities across Southeast Asia – grid operators need rapid, capital-light solutions, AssetCool’s proprietary nanomaterial coatings, applied by purpose-built robotics, turn existing overhead lines into higher-capacity, more resilient assets, increasing efficiency and mitigating risks such as overheating and bushfires – all at a fraction of the cost of conventional reconductoring. Our investment reflects Taronga Group’s strategy of accelerating the transition for Real Assets toward a resilient and low-carbon economy through investment in world-leading technologies.”
– Avi Naidu, Managing Director, Taronga Group
AssetCool’s rapidly growing team brings together a unique mix of expertise. The technical team includes PhDs in Physics, Mechatronics, Synthetic Chemistry, and Computer Science, combined with strong real-world experience. Co-founder and CEO Niall Coogan holds a Master’s in Chemistry and a PhD from the Power Networks Centre (CDT program) from the University of Manchester.
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
Founded in Leeds, UK, AssetCool develops advanced robotics and functional coatings for energy infrastructure. Its core platform increases the capacity and efficiency of power lines through direct application of thermal-management nanomaterials. Its platform technology in chemistry and robotics allows it to address a range of constraints for transmission network operators.
For more information, please visit www.assetcool.com.
About Taronga Group
Taronga Group is a leading global investor, focused on driving innovation across Real Asset sectors such as real estate and infrastructure. The group consists of Technology Investment Funds, Real Asset Investments and RealTechX innovation programs, providing ecosystem support and advisory services. Taronga Group provides Real Asset owners and operators strategic investment, access and advice across technology and sustainability. Taronga Group’s funds are backed by leading global institutional investors and major Real Asset owners and operators and covers markets across Asia-Pacific, North America, Europe and the Middle East.
For more information, please visit https://tarongagroup.com/.
