About

VEIR specializes in superconducting power lines that enhance electric transmission capabilities. Their technology utilizes distributed, evaporative liquid nitrogen for cooling, allowing these lines to transmit 5 to 10 times more power than traditional lines at the same voltage. This innovation significantly increases the capacity of existing transmission corridors and reduces the need for new infrastructure. VEIR primarily targets utility companies and energy providers seeking to upgrade their systems to meet rising electricity demands while promoting decarbonization and grid resilience. Unlike competitors, VEIR's product minimizes energy loss and maximizes power delivery, providing a cost-effective solution for enhancing transmission capacity. The company's goal is to support the transition to sustainable energy by modernizing the electric grid and reducing carbon emissions.

Simplify's Take

What believers are saying

• VEIR raised $24.9 million in Series A2 funding in July 2023.
• Successful outdoor demo in July 2023 shows potential for grid modernization.
• Growing demand for grid resilience boosts market for VEIR's technology.

What critics are saying

• Emerging competition from perovskite solar cells could disrupt the market.
• Scaling cooling technology beyond 100-foot demo may pose challenges.
• Dependence on continuous funding rounds could be risky if funding dries up.

What makes Veir unique

• VEIR uses high-temperature superconductors for efficient electricity transmission.
• Their cooling method offers 20x more power per kilogram of nitrogen flow.
• VEIR's technology allows 5-10x more power transmission than conventional lines.

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