Laki Power secures a $3M financing round led by Eyrir Vöxtur

Laki Power secures a $3M financing round led by Eyrir Vöxtur

Laki Power, which develops and produces surveillance stations to monitor the status of high-voltage lines, recently secured $3 million in financing. Eyrir Vöxtur led the funding round along with Brunnur Ventures and their current shareholders.

The round of funding will support product development, additions to the current team, and continued expansion into foreign markets.

“Our power harvesting technology is unique, and has created various opportunities to power energy-intensive equipment on power lines, like surveillance equipment and drone charging stations. In our work with energy companies worldwide, we’ve developed solution that are garnering significant interest, and this round of funding will allow us to further develop our software and hardware, to help make our power grid more robust and reliable,” says Ósvaldur Knudsen, CEO of Laki Power.

Energy companies face daily challenges in transporting electricity through high-voltage lines. These challenges are often related to adverse weather, including icing on the lines that can lead to power outages, or the need for real-time monitoring and surveillance to ensure power grid operations in remote areas.

Ósvaldur explains,”With Laki Power’s technology, energy companies can closely monitor the status of high-voltage lines with surveillance stations that include cameras, weather sensors, and other sensors. The technology thus reduces maintenance costs, enhances the reliability of the power grid, and decreases the risk of power outages.”

Traditional surveillance equipment used to monitor high-voltage lines relies on fossil fuels, solar cells, and other energy sources, which are unreliable and environmentally unfriendly, as well as require frequent maintenance trips by staff in often dangerous conditions.

“Laki Power’s solutions utilize the electromagnetic field of high-voltage lines with a patented power harvesting technology. The technology offers various opportunities, and alongside the production of surveillance stations, Laki Power is developing drone charging stations, making it easier for energy companies to charge drones that can be used in maintenance and surveillance.”