Belgian startup Ampacimon, whose sensor technology is making power grids more flexible and efficient, has closed a €4 million investment round, with Korys acting as lead investor. Existing shareholders Gesval, Creos, and Noshaq also participated.
Founded in 2010, Ampacimon offers monitoring solutions for power grids. Using research carried out since 2003 at the University of Liège, Ampacimon monitors the capacity of high-voltage lines in real time, by equipping them with autonomous and communicating sensors. Software applications then enable customers to monitor in real time and forecast the use of their electricity networks.
Since 2015, the company has been promoting its “Dynamic Line Rating” (DLR) solution to widen its footprint in more countries and with new grid operators. Ampacimon has also been awarded contracts with most of the major utility companies worldwide, including Tennet (Netherlands) in Europe, Tepco (in Japan), HydroQuebec, APS and NYPA in North America, MSETCL in India, ENEL and ISA in South America, joining Elia (Belgium) and RTE (France) as first customers. As such, Ampacimon has the largest installed base of DLR systems in the world.
Five years later, this new capital increase will enable Ampacimon to further accelerate its growth through innovative projects to develop new monitoring solutions, in particular for distribution networks. To do this, Ampacimon continues to invest in numerous research projects in order to diversify its applications. Additionally, the company is also considering acquisition opportunities.
“Ampacimon fits perfectly in the investment strategy of Korys and we are impressed by their growth”, says Brieuc de Hults (Investment Director at Korys). “Besides our investments in renewable energies, we also want to support their integration in the energy network and as such participate in the energy transition. Renewable energy sources produce electricity intermittently and this means networks need to be more and more flexible and monitored in real time. The capacity of grids will also need to be increased, which will require significant investments. However, grids are often under-utilised for safety reasons. Ampacimon is able to increase their capacity (grid utilisation) without major investments yet just by gathering more accurate data on grid utilisation and the condition of lines in real time.”
Gaëtan Servais (CEO of Noshaq) is delighted as well with Noshaq’s return to the capital of Ampacimon: “The area covered by Ampacimon is related to 2 of Noshaq’s 7 strategic sectors so it was important for us to be a partner in this capital increase. It shows our involvement in the energy transition and energy efficiency, leaning on digital and 4.0 technologies.”