UK, Applied Superconductor Completed £650K Financing Round

Last December, Applied Superconductor Ltd. a Blyth, UK-based specialist developer and producer of high efficiency devices for utility and industry electrical networks employing superconductor technologies, concluded a £650k financing round.

The funds were provided by NorthStar Equity Investors, NEL Fund Managers, members of the management team and industry experts.
The new funds are being used to reinforce Applied Superconductor’s business case by attracting new projects and setting up additional co-operations.
Applied Superconductor intends to initiate a further financing round, which was scheduled to be closed by the middle of 2010.

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