Aveillant secures £6.75m in new funding

Aveillant, whose 3D Holographic Radar prevents wind turbines from interfering with airport radar – has secured up to £6.75 million in new funding.

The investment will enable Aveillant to manufacture, ship and install units of its Holographic Radar, bringing the company into full-scale commercial operation. Further demonstrations at Prestwick and Glasgow airports are expected in coming weeks, in addition to the long-term development system at Cambridge airport.

Wind turbine clutter is one of the largest obstacles holding back wind development in the UK.  Today, there is more energy capacity being held up in the planning process because of aviation radar issues than is deployed on the ground.

This significant funding represents a vote of confidence by investors that Aveillant’s technology will become the mainstream solution to wind turbine clutter, potentially unlocking many wind farm developments while allowing for safe and reliable operation of airport primary surveillance radar.

Aveillant’s 3D Holographic Radar seamlessly integrates with existing airport radar and allows it to distinguish between aircraft and turbines, thus eliminating potentially dangerous clutter from controllers’ screens.

The round was led by ESB Novusmodus, a €200m cleantech fund created by leading Irish utility, ESB, and advised by Greencoat Capital. The round 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.

David Crisp, CEO of Aveillant 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 are delighted to have secured this round of funding and look forward to commercial roll out.”

Richard Nourse, Managing Partner of Greencoat Capital, said: We have been looking carefully at the sector for some time, and are very excited about investing in Aveillant. We believe that its 3D Holographic Radar is the most robust solution in the market, addressing the Civil Aviation Authority and Airport technical requirements and offering an affordable solution to the wind industry. Furthermore, we are extremely impressed by the management team. We look forward to working closely with that team, and supporting the next stage in the company’s development.

Jon Cox, wind farm specialist at the Airport Operators’ Association and Group Air Traffic Services Manager at Manchester Airports Group said:  “The industry is becoming more and more convinced by Aveillant’s 3D Holographic Radar and the fact that the business model does not involve capital expenditure for the airport puts it ahead of the pack.”

Paul Askew, Head of Aviation, Renewable UK, said: “Finding a solution to wind farm clutter on airport radars is one of the most important issues to overcome if we are to further develop wind energy in the UK. Doing so will be key to meeting the UK’s renewable targets. Approaches to mitigation have so far have been limited and sometimes elementary, such as redesigning wind farms to get turbines out of line of sight. A robust scalable and future proofed solution is needed that works for all sizes of wind farms.”

 

 

 

Posted in Corporate, Environment, News, Safety, Surveillance, Uncategorized

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