SuperNode shareholders AKER Horizons and Volnay have injected €8 million of additional funding into SuperNode Ltd. This funding will be used for the further development of innovative superconducting transmission technology.
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.”
SuperNode is a cutting-edge technology company specialising in next-generation superconducting cable systems, capable of conveying 5-10 times more energy than conventional electricity cables. The technology provides innovative solutions to current electricity grid challenges and will play a key role in the transition to decarbonisation.
SuperNode was founded in 2018 by the late renewable energy pioneer Eddie O’Connor. SuperNode is co-owned by Volnay and Norwegian green investment group AKER Horizons.