Case Study – Zenergy Power plc
Jane Capital cofounded SC Power Systems in 2004 as a JV with Metal Manufactures Ltd to commercialize high temperature superconductor technologies for grid stabilization developed by MML’s Australian Superconductors division.
We led the commercialization into US market for superconducting fault current limiter technology. Key successes include:
- Technology partnerships on development and testing with Powertech Labs and NEETRAC
- Development and installation of the first HTS FCL in the grid at Socal Edison
- FCL orders for American Electric Power and ConEdison in the US and CE Electric in the UK
- A $0.5 mm grant from California Energy Commission
- An $11 mm grant from DOE
In 2006, we brought in an investor group, Cloverleaf Ventures, to acquire and merge SC Power with Trithor GmbH to form Zenergy Power plc and we advised on the successful listing on the London Stock Exchanges’s AIM market (AIM:ZEN), subsequently allowing the company to raise over $100 mm in total capital. Zenergy achieved $250 mm in market cap <30 months from the founding of SC Power, and a subsequent liquidity for mezzanine and early stage investors – investors achieved 4-15x investment in < 2 years.