Tech

SuperNode secures additional €16m from shareholders

Eddie O’Connor’s SuperNode is developing superconducting transmission technology

SuperNode CEO John Fitzgerald: ‘We are confident in our capacity to deliver ground-breaking and transformative superconducting cable systems.’ Picture: Arthur Ellis

Former Mainstream Renewable Power chairman Dr Eddie O’Connor and other shareholders in SuperNode have injected €16 million of additional funding into the company, a year after providing it with €14 million in financing.

SuperNode is developing so-called “superconducting transmission technology” to integrate renewable energy and connect electricity markets.

The company has developed cables that are capable of transferring large amounts of electricity over long distances more effectively and cheaply.

SuperNode forecasts that superconducting transmission products ...