Applied Superconductor Ltd. develops and produces high-efficiency devices for utility and industrial electrical networks using superconductor technologies, including a Superconducting Fault Current Limiter designed to protect networks from short-circuits. The company is led by CEO Herbert Piereder and is based in Blyth, Northumberland, UK. It recently signed a £4m contract with Rolls Royce and the Energy Technologies Institute to reduce downtime from power cuts and earlier won a major contract with CE Electric UK. Shareholders include founders Herbert Piereder and David Klaus and regional venture firms NEL Fund Managers and NorthStar Equity Investors. The company raised funds to expand market presence and operations. Applied Superconductor Ltd is a Blyth, UK-based specialist developer and producer of high-efficiency devices for utility and industry electrical networks employing superconductor technologies. Its products apply superconductors to improve efficiency in utility and industrial electrical networks. Last December the company completed a £650K financing round. The funds were provided by NorthStar Equity Investors, NEL Fund Managers, members of the management team and industry experts. The new funds are being used to reinforce the company's business case by attracting new projects and setting up additional co-operations. Applied Superconductor intends to initiate a further financing round scheduled to be closed by the middle of 2010.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2011