Strategic Collaboration and Investment Propel SUBRA’s Scalable Superconductor Innovation for a Greener Future
Novo Holdings and SUBRA announce a partnership to fast-track the advancement of innovative superconductor technology supported by a convertible loan from Novo Holdings in Danish deep-tech SUBRA.
The global energy transition has become one of the most pressing challenges of our time. As the world strives to reduce carbon emissions and meet ambitious climate targets, innovative technologies are needed to modernise energy systems and enable sustainable power generation.
Superconductors can become the key to transforming our energy system. They hold promise to enable a new generation of zero resistance power cables as well as fusion reactors, playing a crucial role in improving energy efficiency, supporting renewable energy integration, and advancing next-generation solutions like fusion energy. The partnership between SUBRA and Novo Holdings aims to advance SUBRA's development and position SUBRA for scaling towards making a critical impact in the green transition.
Despite their significance in advanced technologies, present superconductors face several critical challenges, including difficulties in scalability and cost-effective production. SUBRA's technology takes a different approach to high-temperature superconductors. Bringing superconductors from flat tape technology to bundled wires, the SUBRACABLE innovation has the potential to overcome limitations of traditional copper cables and current flat tape superconductors. This is realised by enabling the production of superconductors that are scalable to extreme lengths, with superior properties such as thermal robustness, mechanical flexibility and high current capacity.
Anders C. Wulff, CEO, SUBRA, said: "This partnership is an immensely important step towards ensuring a strong and long-term strategic path for realising our shared vision of a greener tomorrow. Accelerated development of superconductors plays a key role in this vision, enabling more efficient energy transmission and extremely powerful magnets for fusion reactors. Partnering with Novo Holdings is a vital step towards growing our company as we are positioning SUBRA for its Series A financing come 2025."
Marcus Remmers, Partner, Planetary Health Investments, Novo Holdings, said: "We are very pleased to partner with SUBRA, since we believe that Novo Holdings' commitment to planetary health aligns well with SUBRA's impact-driven strategy for advancing the green transition, creating meaningful opportunities for synergy and innovation. We look forward to building this partnership into a long-term commitment and contributing to SUBRA's continued growth and success.