Belgium-based startup Ampacimon has raised €4M in a new funding round held in August 2020. It was led by Korys and existing investors Gesval, Creos, and Noshaq.
Proceeds from the round will scale up its growth through pioneering projects to develop new monitoring solutions, in particular for distribution networks. In order to achieve this, Ampacimon continues to invest in multiple research projects to have variations in its applications. Further, the startup is also considering acquisition prospects.
Founded in 2010 based on the research started in 2003 at the University of Liège (Belgium) by Prof Jean-Louis Lilien and Prof Jacques Destiné. Ampacimon offers monitoring solutions for power grids (a network for delivering electricity from producers to consumers). Also, it keeps track of the volume of high-voltage lines in real-time, by equipping them with autonomous and communicating sensors. Customers are then able to monitor and estimate the use of their electricity networks via software applications.
The startup’s mission “Smart solutions for a Dynamic grid”, is to help grid operators gain economic and operational value from their existing infrastructure. This is by integrating a range of technology products and services that efficiently make the best use of their capacity. Its products address grid infrastructure challenges such as aging assets, transmissions congestion, renewable integration, interconnectors.
Ampacimon’s ADR (Ampacimon Dynamic Rating) solution has been deployed worldwide with 250+ grid monitoring sensors & software on 50+ power transmission lines.
Since 2015, the startup has been endorsing its “Dynamic Line Rating” (DLR) solution to expand its footprint in more countries and with new grid operators. It has also been bestowed with contracts with most of the major utility companies worldwide, including Tennet (Netherlands) in Europe, Tepco (in Japan), HydroQuebec, APS and NYPA in North America. Also, MSETCL in India, ENEL and ISA in South America, joining Elia (Belgium) and RTE (France) as first customers.
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