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About Veir
Industries
Industrial & Manufacturing
Energy
Company Size
51-200
Company Stage
Series B
Total Funding
$117.1M
Headquarters
Woburn, Massachusetts
Founded
2019
Overview
VEIR develops advanced superconducting transmission lines to enhance the electric power grid. Their technology utilizes high-temperature superconductors (HTS) and a cooling system that uses ambient air, allowing the cables to carry significantly more power—5 to 10 times more than traditional systems—while occupying less space. This makes VEIR's transmission lines ideal for urban areas, renewable energy connections, and places where space for new infrastructure is limited. The company focuses on increasing grid capacity to support data centers, clean energy initiatives, and regional grid improvements, prioritizing scalability, cost efficiency, and reliability in their systems.
Simplify's Take
What believers are saying
- VEIR raised $75M in Series B to enhance superconducting solutions for data centers.
- Their technology supports grid modernization and renewable energy integration.
- VEIR's superconductors can increase transmission capacity using existing infrastructure.
What critics are saying
- Emerging competition from perovskite solar cells could disrupt the energy transmission market.
- Scaling the cooling technology beyond a 100-foot line presents challenges.
- Dependence on liquid nitrogen for cooling may face supply chain issues.
What makes Veir unique
- VEIR uses high-temperature superconductors for efficient electricity transmission.
- Their passive evaporative cryogenic cooling is 20 times more effective than mechanical subcooling.
- VEIR's technology allows cables to carry 5-10 times more power than conventional alternatives.
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Funding
Total Funding
$117M
Above
Industry Average
Funded Over
5 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
Paid Holidays
Parental Leave
Stock Options
Mental Health Support
Growth & Insights and Company News
6 month growth
↑ 1%1 year growth
↑ 2%2 year growth
↑ 11%VEIR, a leader in superconducting power delivery, today announced the successful closing of an oversubscribed $75 million Series B led by Munich Re Ve
Perovskite solar cells have been tantalizing photovoltaic innovators since the early years of the 21st century. The perovskite promise of more power for less cost will help kick fossil fuels out of the picture, but getting the finicky material to behave has been a next-level challenge. Nevertheless, solutions are beginning to emerge, and one of them involves a centuries-old tried and true material — glass.The Promise Of Perovskite Solar CellsFor those of you new to the topic, perovskite (CaTiO3) is a naturally occurring calcium titanium oxide mineral, first identified in the 19th century. It lay about for the 20th century until researchers learned how to reproduce its structure in the lab, yielding synthetic perovksite solar cells at a relatively low cost (more CleanTechnica coverage is here).When disposed in a solution, perovskite solar materials lend themselves to low cost manufacturing processes. They can be painted, printed, sprayed or squirted as a thin film on different surfaces, including flexible ones.“In addition to being relatively inexpensive, the lab-grown factor can help to skirt silicon supply chain issues,” we noted earlier this year. “Perovskite solar cells lend themselves to low cost, fast throughput, high volume manufacturing processes
Cleantech startup Veir has raised a $24.9 million Series A2 from investors including Breakthrough Energy Ventures and Congruent Ventures.
VEIR Energizes First-of-its-Kind Outdoor Demo of New Transmission Technology to Modernize Electric Power Grid, Increase Access to Renewable Energy. VEIR also raises $24.9 million in series A-2 funding. WOBURN, Mass., July 27, 2023-- VEIR, a clean technology company, today announced it has completed and energized a 100-foot overhead superconductor power line with a novel cooling approach that will help meet the global need for new power transmission. This technical milestone coincides with the company securing an additional $24.9 million in series A-2 funding from investors including Breakthrough Energy Ventures, The Engine Fund, Congruent Ventures, Fine Structure Ventures, Galvanize Climate Solutions, and VXI Capital.A significant expansion of energy transmission is critical to addressing the urgent and worsening global climate crisis. In fact, major studies indicate that the United States must double or triple the transmission capacity needed to connect more renewable energy to the electric grid and combat climate change.VEIR's technology provides a solution to help modernize the electric power grid, a critical need in meeting global clean energy goals. As new transmission lines become necessary, VEIR's new superconductors will increase transmission of 5-10x more energy than the current grid, using existing rights of way and easing siting and permitting reviews for developers."As we work to rapidly accelerate transmission capacity and curb global greenhouse gas emissions, this outdoor demonstration validates our technology's ability to deliver more energy in a more efficient manner," said Tim Heidel, CEO of VEIR
VEIR also raises $24.9 million in series A-2 funding
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About Veir
Industries
Industrial & Manufacturing
Energy
Company Size
51-200
Company Stage
Series B
Total Funding
$117.1M
Headquarters
Woburn, Massachusetts
Founded
2019
There are no jobs for Veir right now.
Find jobs on Simplify and start your career today