With the world’s demand for electricity surging and the energy transition accelerating, grid congestion has emerged as one of the most critical challenges facing utilities and policymakers. Traditional grid upgrades, building new power lines, are slow, costly, and fraught with regulatory and community hurdles, often taking 7–12 years and costing millions per mile. Leeds-based deep tech startup AssetCool is offering a faster, cheaper, and smarter alternative: a proprietary robotic platform and nanocoatings that can boost the capacity of existing power lines by up to 30%, deployed in days, not years.
Today, AssetCool announced the close of a £10M Series A funding round led by Energy Impact Partners (EIP). Extantia Capital, Taronga Group, and the Northern Powerhouse Investment Fund (managed by Mercia Ventures) participated, alongside Kero Development Partners and Northern Gritstone. This brings AssetCool’s total funding to over £14 million, including pre-seed and seed rounds. The company remains privately held and has not disclosed its current valuation to TFN.
From research to real-world impact: The founder’s journey
AssetCool CEO & co-founder, Dr. Niall Coogan, shared with TFN: “Grid capacity is the single largest bottleneck for the energy transition. We offer a shortcut — up to 30% more capacity, 20 times cheaper, and deployable in days, not years. We are laser-focused on doing the hard yards to improve the physical layer of the grid, specifically overhead systems. Our team innovates at the nexus between robotics and materials science to bring meaningful improvements to an ageing network.”
AssetCool was co-founded during Dr. Coogan’s PhD research on the Power Networks Centre for Doctoral Training. “Back in 2016, it was obvious that the transmission bottleneck was coming and that rebuilding the grid was too slow and expensive. Our vision is to empower operators to get more from what they already have, using robotics and materials science,” Dr. Coogan explained. “Our mission is to cool and unlock all of its potential for the energy transition”
What sets AssetCool apart?
AssetCool’s platform is unique, combining proprietary thermal nanocoating with autonomous robotic systems. The nano coating reduces conductor temperature and increases ampacity, the robots can apply the coating quickly, safely, and at scale. This approach will allow AssetCool to upgrade several transmission spans per day per team, with limited service interruptions.
“No other solution integrates both materials innovation and autonomous deployment like AssetCool. We can upgrade several spans per day – in the future, we will be able to do it with no de-energising of the line,” said Dr. Coogan. The company’s robots can deploy a range of functional coatings to address typical constraints on overhead lines, including limited capacity, noise, and corrosion. They also provide an agile platform for additional services based on collecting and analysing physical data with AI, turning data into actionable insights.
AssetCool’s solution fundamentally differs from advanced grid solutions, such as HTLS cable manufacturers, which require complete line replacement, and Dynamic Line Rating (DLR) platforms like Heimdall Power or LineVision, which focus on monitoring rather than physical upgrades. AssetCool physically upgrades existing lines without replacement, offering a complementary or alternative solution that is faster, cheaper, and less disruptive.
AssetCool is committed to building a diverse and inclusive workforce. Around 20% of its 25 Full-time employees identify as female, and the company has just welcomed a new COO to its leadership team. Additionally, the team comprises professionals from more than ten nationalities. “We prioritise diversity of background and thought, as we believe it’s essential for innovation,” said Dr. Coogan.
Looking ahead: Scaling for global impact
With this new funding, AssetCool is poised for rapid expansion. The company will roll out commercial deployments with leading utilities across Europe, Asia, and North America. It plans to expand its robotics platform to integrate additional functions such as corrosion mitigation, surface inspection, and noise mitigation. Regulatory validation and technical standardisation are also in focus, as AssetCool aims to integrate seamlessly with transmission and distribution system operators worldwide.
The company will open a new facility in Leeds and anticipates expanding its team to over 70 employees within the next few years. “We’re building the world’s first end-to-end platform for rapid, data-driven grid upgrades — helping utilities everywhere keep pace with the energy transition,” Dr. Coogan added.
