Irish technology company, SuperNode, has entered into a supply agreement with Theva, a German company specialising in the design and manufacture of superconductor wire. The wire is a key component in the production of SuperNode’s next generation superconducting electrical cables.
Under the agreement SuperNode has secured its supply chain allowing it to carry out European pilot programmes with the ultimate aim of supplying power cables that will help facilitate the decarbonisation of Europe’s electric grid. Under the terms of the agreement, SuperNode will also have the option to take up equity in Theva.
Rob O’Connor, CCO of SuperNode said:
“SuperNode is keen, not just to buy wire, but to invest alongside our German strategic partners and expand our interests in Germany. Theva is an innovative German company with an excellent product and a fantastic team. We are happy to see Theva’s plans for scaling up its production in Munich and beyond and look forward to partnering closely to develop our innovative electricity transmission technology.
Germany must continue to be a leading centre of expertise for superconducting technology. We firmly believe that the commercialisation of superconducting cables will strengthen Germany’s and Europe’s industrial leadership in a strategically critical area -contributing to overcoming current grid constraints, accelerating integration of renewable energy and achieving energy independence.
SuperNode wants to be an active partner in that urgent transformation.”