CleanTech firm scales up with £6.75m funding
Cambridge technology that removes wind farm clutter from Air Traffic Control radar screens could be rolled out by the end of the year after startup Aveillant clinched £6.75 million fresh funding.
The Cambridge Consultants spin-out said the latest funding would enable it to deploy its 3D Holographic Radar™ at airports, underpinning the company’s position as the foremost solution to the problem.
Further demonstrations at Prestwick and Glasgow airports are expected in coming weeks in addition to the long-term development system at Cambridge airport.
Aveillant’s technology is said to safely and reliably remove wind farm clutter from Air Traffic Control screens – allowing airports to withdraw their objections to several gigawatts-worth of wind farms that are stuck in the planning process.
The company says its business model requires no capital expenditure from airports or wind farm developers.
The new round was led by ESB Novusmodus, a €200m cleantech fund created by leading Irish utility, ESB, and advised by Greencoat Capital. It also includes significant further funding from existing investors DFJ Esprit and Cambridge Consultants.
In another show of confidence, The Aviation Investment Fund Company Limited (AIFCL), an organisation set up to provide financial support for programs outlined in DECC’s Aviation Plan, is converting its loans to Aveillant into equity in the company.
Aveillant said the investment will enable it to manufacture, ship and install units of its 3F Holographic Radar™, bringing the company into full-scale commercial operation. It says the technology seamlessly integrates with existing airport radar and allows it to distinguish between aircraft and turbines – eliminating potentially dangerous clutter from controllers’ screens.
CEO David Crisp said: “Our service model takes away any capital expenditure costs for wind farms and airports and charges a service fee that is proportionate to the generating capacity covered.
“It’s a solution that works well for all parties and is underpinned by the most robust technology in the sector. We look forward to commercial rollout.”