BayBG is investing in the production of superconductors, or more precisely, in THEVA GmbH. The company raised a total of 6.4 million euros in its current financing round. Fresh capital that will be used for the further development of superconductors.
Superconductors are high-performance cables used in the power industry, drive and magnet technology, and manufacturing. A key advantage is their high efficiency and virtually loss-free power transmission over long distances when the cables are sufficiently cooled to minus 198 degrees Celsius.
Goal: Reduce costs for superconductors through series production
Sounds good, but there is currently far too little material on the market at competitive prices. The aim of THEVA The aim is therefore to reduce the costs of superconductors to the level of copper through series production in order to supply the market with sufficient material.
Superconductors have so far been used in pilot projects in the public power grid or in industrial plants, among other applications. Experts expect a growing number of pilot installations using superconductors in the coming years.
BayBG sees great potential
Also the BayBG Bavarian Investment Company focuses on the future trend:
"We already recognized the potential of superconductors in 2012 and therefore invested in THEVA Dünnschichttechnik GmbH, Ismaning. BayBG, together with eCapital, the Bavarian growth fund managed by Bayern Kapital, and Target Partners, has also continued to participate in the current financing round totaling €6.4 million,"
said Peter Pauli, Managing Director of BayBG.
THEVA will invest the fresh capital in the further development and expansion of superconductor production.
"Currently, THEVA is the only German company capable of mass-producing superconductors. We have developed our own patented process for this purpose, which, combined with our own modular production facilities, gives us a real competitive advantage,"
said Dr. Werner Prusseit, Managing Director of THEVA.
