Cambridge Consultants’ latest spin-out company 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 the 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 package also includes significant further funding from existing investors DJ Esprit and Cambridge Consultants, who incubated the company. In another show of confidence, The Aviation Investment Fund Company Limited (AIFCL), an organisation set up to provide financial support for programmes 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 charges a service fee that is proportionate to the amount of MW capacity covered. It’s a solution that works well for both airports and wind developers, all 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.”
Cambridge Consultants has a long history of creating successful spin-outs, producing more than 20 companies in the past 50 years. Five of them have gone on to be listed on the London Stock Exchange (including CSR, Domino and Xaar), and several, such as Inca Digital, have been sold in multi-million pound deals. The company has created over a billion pounds’ worth of value and more than 3,000 jobs through its spin outs, and is seen by many as a founding father of the Cambridge Phenomenon.
Cambridge Consultants’ Ventures Director, Ray Edgson commented, “I’m delighted to see the investment community confirm our belief in this technology with this successful second round of funding. Our track record in successful ventures speaks for itself, and Aveillant’s technology is exceptionally well placed to solve a real-world problem.”
Aveillant has developed a ground breaking 3D Holographic RadarTM designed specifically as a wind farm safety issue solution. A 2011 spin-out from Cambridge Consultants, Aveillant’s 3D Holographic Radar™ is poised to become the new standard for addressing the impact of wind turbines on aviation safety and airfield Primary Surveillance Radar. www.aveillant.com