UK - NSEI invests £1.4m in ASL
NorthStar Equity Investors (NSEI) has made an investment of ТЃ1.4m into Applied Superconductors Ltd (ASL).
The funding will be used in the ongoing product development of the first commercially viable Superconducting Fault Current Limiters, a new technology designed to reduce surges caused by short circuits by regulating current flow. Three pilot trials are currently being undertaken around the UK, backed by major distribution operators.
The company has previously recieved £60,000 from NSEI's Proof of Concept Fund.
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