Irish renewable tech startup SuperNode, which specialises in next-generation superconducting cable systems, has secured €8 million in funding. The fresh funding came from O’Connor’s investment group, Volnay, and Norwegian green investment group, Aker Horizons, both of which co-own the company.
This funding will be used for the further development of its superconducting transmission technology.
This investment round follows the recent funding rounds in energy tech startups, including Beebop, tem., and Reonic.
Idea behind SuperNode
Conventional cable technology is capacity constrained and will not be capable of transmitting the required levels of renewable power needed in the system. This will delay the construction of new renewable infrastructure, costing time and money that we cannot afford.
We need more innovative cables, capable of transferring large amounts of power over long distances efficiently. SuperNode is developing these cables using superconductor technology. Superconductors are a phenomenon in some materials that when cooled to very low temperatures can transmit power with zero electrical losses. These cables can carry huge amounts of power in a much smaller surface area than conventional cables and require significantly less infrastructure, materials, and space.
Next-gen superconducting cable systems
Founded in 2018 by the late Dr. Eddie O’Connor, the company specialises in next-generation superconducting cable systems. Its superconducting cables can transfer renewable electricity with reduced losses, costs, and footprint compared to conventional cable technology.
SuperNode uses liquid nitrogen to cool its cables to cryogenic temperatures and into a state of superconductivity, enabling incredibly efficient and high-density power transfer, claimed to be up to 5 times more powerful than conventional cables at much lower voltage levels. SuperNode’s superconducting cables will be commercially available by the end of the decade and will be a key technology advancement to enable the renewable energy transition.
Last year, the Dublin-based startup teamed up with CERN, the European Organisation for Nuclear Research, to collaborate on improving SuperNode’s superconducting cable systems. It also announced plans to invest €40 million into research and development of new superconducting cables to boost Ireland’s transition to net-zero carbon emissions.
SuperNode CEO John Fitzgerald said: “We are thankful for the continued backing from our major investors, Aker Horizons and Volnay. This funding will enable us to further develop our key initiatives: technology development at our Dublin and Blyth facilities, prototype testing and demonstration projects, and bringing this game-changing technology to market, supporting decarbonisation, and energy independence.”
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