CEO John Fitzgerald. Image: SuperNode
The company aims to use its technology to address current electricity grid challenges and could play a key role in the transition to decarbonisation.
Irish renewable technology company SuperNode has bagged €8m in funding to further the development of its superconducting transmission technology.
Founded in 2018 by the late Dr Eddie O’Connor, the company specialises in next-generation superconducting cable systems capable of conveying more energy than conventional electricity cables.
The technology aims to address current electricity grid challenges and could play a key role in the transition to decarbonisation.
The fresh funding comes from O’Connor’s investment group, Volnay, and Norwegian green investment group, Aker Horizons, both of which co-own the company.
SuperNode’s CEO John Fitzgerald said he is thankful for the continued backing from the company’s investors.
“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’s success has been ramping up over the last year and a half. In April 2023, the company secured €16m from its shareholders.
Later that same month, the Dublin-based start-up teamed up with CERN, the European Organisation for Nuclear Research, to collaborate on improving SuperNode’s superconducting cable systems.
A few months later, the company announced plans to invest €40m into research and development of new superconducting cables to boost Ireland’s transition to net-zero carbon emissions.
And last month, SuperNode expanded its operations beyond Dublin, opening a new cable technology centre in Blyth, Northumberland. According to SuperNode, the facility represents the first phase of a larger, multiyear project to develop next-generation superconducting cables.
However, at the beginning of 2024, the company also announced that its founder, O’Connor, had died, aged 76.
In a tribute, Fitzgerald said O’Connor was known as one of Ireland’s greatest entrepreneurs. “Eddie spotted opportunities and trends many years before anyone else and was determined to shape developments by being the first mover,” he said.
“He saw the need for new grid technology before others and was the first to articulate the necessity for Europe to build a pan-European electricity supergrid to bring solar and wind power to consumers in a decarbonised European economy.”
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