Business Wire

Laki Power Closes Financing Led By Brunnur Ventures

Share

Laki Power (www.lakipower.com), a leader in real-time surveillance for high-voltage powerline infrastructure, announced today the successful closing of its first institutional investment round, led by Brunnur Ventures. The new capital will support further development of the Company’s high-voltage powerline sensor product portfolio, powered by its unique patent-pending line energy harvesting platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191027005046/en/

Inductively powered and sited directly on the phase wire, our LKX-range of sensors provides fully-autonomous, next-generation monitoring capabilities for high-voltage transmission and distribution infrastructure. (Photo: Business Wire)

Inductively powered and sited directly on the phase wire, our LKX-range of sensors provides fully-autonomous, next-generation monitoring capabilities for high-voltage transmission and distribution infrastructure. (Photo: Business Wire)

“We’re pleased to announce the closing of this funding and are delighted to be working with the experienced team at Brunnur Ventures,” said Sigurjon Magnusson, CEO at Laki Power. “This round enables us to accelerate the build out of our power harvesting capabilities into an expanded range of high-value products and services that address the rapidly growing needs of power grid operators for real-time knowledge of system health and functionality.”

Electricity grids worldwide are changing, driven by the increased demands of distributed generation of wind and solar, and pressure from both customers and regulators for increased resilience, transparency and accountability.

“Addressing the need for real-time, actionable intelligence for the monitoring and management of power grid infrastructure is clearly a huge opportunity and we are seeing that utilities are deploying sensing and monitoring systems more broadly, and faster than ever before,” commented Arni Blöndal, General Partner at Brunnur Ventures.

Unique capabilities

Laki Power’s unique products are powered by the only on-market energy harvester that supports multiple sensors and communications devices with full autonomy from external power sources, eliminating the need for solar, wind or diesel generators. The Company’s PowerGRAB™ technology harvests energy from the electromagnetic field surrounding the alternating current (AC) carrying phase wires of high voltage power lines to provide direct current (DC) power for running external and internal surveillance and monitoring devices, and many other applications that need clean and stable DC power.

About Laki Power

Laki Power was founded in 2015 to transform the way line monitoring is carried out for transmission system operators (TSOs) and distribution system operators (DSOs), by bringing to market new technology that dramatically enhances the level of power that can be efficiently harvested from high voltage lines.

Electrical transmission and distribution systems worldwide span millions of kilometres. Yet despite carrying huge amounts of energy, tapping into that energy, to provide monitoring devices with power in the remote places that these lines cross, has remained a persistent challenge. Instead these systems have relied on local fossil fuel generators, wind turbines, solar cells or power from the line that requires a mini-substation to adapt voltage and power levels for proper utilization. This results in very high costs of installing, maintaining and resupplying these systems, as well as a host of other environmental, operational, logistical and maintenance issues.

Laki Power's patent pending technology can harvest up to hundred times more power than competitor solutions, offering unprecedented monitoring capacity and flexibility for a range of sensors and applications.

For more information, please visit: www.lakipower.com

About Brunnur Ventures

Brunnur Ventures is a $30m venture capital fund focused on Icelandic start-up companies, emphasizing innovation and growth, combined with scalable business models and extraordinary entrepreneurial talent.

For more information, please visit: www.brunnurventures.com

Laki Power and the Laki Power logo are registered trademarks of Laki Power in the United States and/or other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners.

Contact information

Sigurjon Magnusson
CEO, Laki Power
sigurjon.magnusson@lakipower.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

PTW International Announces Orange Rock Studios, Their Product and Game Development Arm11.12.2019 20:00:00 EETPress release

Pole to Win International, Ltd. (PTW), the industry-leading video games and tech services outsourcer, today announced the launch of its product and game development arm, Orange Rock Studios. Orange Rock Studios will enhance the service offering of PTW, a gaming industry stalwart with an established and diverse dossier of top-tier clients across multiple verticals. “The time to be disruptive is now,” said Deborah Kirkham, CEO of PTW. “At Orange Rock, we foster future technologies to anchor projects with ingenuity and discipline for generation Y and Z. Together with our clients, we envision and engineer digital experiences.” “Orange Rock is the engine that will build PTW’s future by enabling us to bring each of our existing service lines - Quality Assurance, Customer Support, Audio Production, Localization, and Translation - to the forefront of their fields through cutting edge in-house tool development. We will deliver the creative products that accelerate our industry’s progress toward

Fastly Shares the Most Notable Internet Infrastructure Milestones of 2019, and What 2020 Might Bring for the Expansion of Platform-Independent Computing11.12.2019 19:30:00 EETPress release

Fastly, Inc. (NYSE: FSLY), provider of a global edge cloud platform, today released its “Behind the Screens” retrospective detailing 2019’s notable milestones in internet infrastructure, from the increased adoption of modernized protocols, to the growth in reach and capacity of global high-speed internet, and more. Fastly’s CTO and co-founder, Tyler McMullen, anticipates that these advancements, combined with the rise of WebAssembly and the extension of code portability across platforms and devices, set the programming world up for achieving broader value from serverless computing. The State of Internet Infrastructure in 2019 This year saw a groundswell of grassroots protocol improvements, sweeping shifts toward encryption due to increased focus on data privacy, and a preview into WebAssembly’s possibilities at the edge, as well as: New satellites that took to the sky and submarine cables that were installed to grow capacity around the globe. Congestion control reimagined through BBR,

Invicro Supports the Alzheimer’s Disease Neuroimaging Initiative11.12.2019 18:37:00 EETPress release

Invicro LLC, a Konica Minolta Company, today announced funding support for the Alzheimer’s Disease Neuroimaging Initiative (ADNI), and two of their distinguished scientists within the Alzheimer’s biomarkers space, Drs. Roger Gunn and Kenneth Marek, will join the ADNI-Private Partner Scientific Board (PPSB). Invicro is a global provider of imaging biomarkers, core lab services, advanced analytics and software solutions for drug discovery and development. ADNI is a longitudinal multicenter study designed to develop clinical, imaging, genetic, and biochemical biomarkers for the early detection and tracking of Alzheimer’s disease (AD). ADNI’s mission strives to detect AD at the earliest stage possible (pre-dementia) and identify ways to track the disease’s progression with biomarkers, as well as support advances in AD intervention, prevention, and treatment. “Invicro is delighted to support ADNI which plays a central role in the development of biomarkers that enable advances in AD interven

Sevan Elevate Brings Safety and Sustainability to New Heights11.12.2019 17:00:00 EETPress release

Sevan Multi-Site Solutions, Inc. (Sevan), a global leader in data analytics, surveys, design, program management and construction services, is excited to announce the launch of Sevan Elevate, a program that will reinforce and continuously improve Safety and Sustainability across the company to deliver excellence to people and clients. Safety and Sustainability have been a strategic imperative since 2011 when Sevan was founded by a handful of entrepreneurs, including President and CEO Jim Evans. “Sevan’s tenets are Safety and Sustainability—both of which are woven through every element of the company. It is imperative that all our people—including team members, clients and business partners—return home safely to their loved ones at the end of the day,” Evans said. “With Sevan Elevate, the company is more committed than ever to raise awareness and compliance of Safety and Sustainability throughout the multi-site construction world. We’re not going to change the world overnight, but we ca

Kite and Kiniksa Pharmaceuticals Announce Clinical Collaboration Evaluating Investigational Combination of Yescarta® and Mavrilimumab in Relapsed or Refractory Large B-Cell Lymphoma11.12.2019 16:30:00 EETPress release

Kite, a Gilead Company (Nasdaq: GILD), and Kiniksa Pharmaceuticals, Ltd. (Nasdaq: KNSA) (“Kiniksa”) announced today that the companies have entered into a clinical collaboration to conduct a Phase 2, multicenter study of mavrilimumab, an investigational fully human monoclonal antibody that targets granulocyte macrophage colony stimulating factor receptor alpha (GM-CSFRα), in combination with Yescarta® (axicabtagene ciloleucel) in patients with relapsed or refractory large B-cell lymphoma. The objective of the study is to determine the effect of mavrilimumab on the safety of Yescarta. Kite will be the sponsor of this study and will be responsible for its conduct. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191211005149/en/ “We were excited to present data from several abstracts at the recent ASH meeting that build upon our understanding of the efficacy and safety profile of Yescarta and we are committed to the exploration

Lightbits Labs Launches Industry’s First NVMe/TCP Clustered Storage Solution11.12.2019 16:00:00 EETPress release

Lightbits Labs, the leader in NVMe™ over TCP (NVMe/TCP) software-defined disaggregated storage, today has advanced its software solution, LightOS, to deliver the first NVMe/TCP clustered storage solution. With more companies moving away from direct attached storage (DAS), and with storage requirements typically growing far faster than compute requirements, both public-cloud providers and private-cloud builders are looking for ways to separate storage and compute so each can scale separately. One of the limiting factors to scaling disaggregated storage, however, is the need for high availability across clusters of storage and compute. Lightbits LightOS delivers the availability, flexibility and efficiency of hyperscale cloud infrastructure to on-premise data centers. LightOS is now the first NVMe/TCP storage solution that protects against data loss and avoids service interruptions at scale. In the presence of server, storage, or network failures, LightOS maximizes operational efficiency

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom