Energy technology company SuperNode has announced a further €14 million investment in its business, with its co-owners putting up the money to help further its development.
SuperNode is jointly owned by founder Dr Eddie O’Connor and Norwegian green investment group AKER Horizons.
The funding will support the further development of the company’s innovative transmission technology.
Based in Dublin, SuperNode was set up by Dr O’Connor and Mainstream Renewable Power in 2018 to develop superconducting cable systems to transfer bulk power, integrating renewable energy and properly connecting markets. The superconducting technology is more efficient, more environmentally friendly and less costly than other available options.
The company is aiming to accelerate the deployment of indigenous renewable energy such as solar and wind power.
"We are grateful to have the support and confidence of big picture investors of the calibre of Aker Horizons and our founder Dr Eddie O'Connor," said SuperNode chief executive John Fitzgerald. "This funding will enable us to further develop our technology in our own purpose-built cryogenics centre for superconductors."
