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Laki Power Closes Financing Led By Brunnur Ventures

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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

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