Theva Dünnschichttechnik, a Munich, Germany-based a specialist in 2nd generation (2G) high temperature superconductors (HTS), has received a seven figure Series A investment.
Backers include Target Partners and BayBG Bayerische Beteiligungsgesellschaft.
The company intends to use the funding to develop its production lines for 2G HTS tape for use in electrical power engineering applications.
Led by CEO Dr. Werner Prusseit, Theva has developed a proprietary, patented process technology for manufacturing 2G HTS tape designed for applications such as electricity transmission, generators and electrical systems. 2G HTS tape can conduct two hundred times more electrical current than copper wire of the same dimensions. This results in huge potential savings for electricity grid expansion and increased power generation efficiency, while allowing for environmentally friendly electrical transmission.
Founded in 1996, the company has sales representatives in Asia and the US.