New investment – IONATE raises £13.5m

The round was joined by a strong syndicate of new strategic and institutional investors as well as existing shareholders.

Founded in 2019, IONATE has built a full stack solution that consolidates multiple power system functions into a single, cost-effective device, addressing the shortcomings of traditional offerings. With electricity consumption expected to double by 2050 and much of the grid infrastructure nearing the end of its life, the market for grid modernisation is vast and the global spend is expected to reach $21 trillion by 2050.

With its technical differentiation, IONATE is well-positioned to capture this market; its hardware Hybrid Intelligent Transformer (HIT) replaces old transformers with a smart equivalent that detects, analyses, and resolves power disturbances in real time. The Aurora software platform unlocks network efficiency, renewables hosting capacity, and achieves true smart grid capabilities with AI-enabled control. This unique combination allows IONATE to offer real-time control and visibility at a lower cost, making it an all-in-one solution for utilities, manufacturers and data centres.

The company is collaborating with energy giant EDP, with Portugal and Spain networks being the first to benefit. It has also scaled its solution for data centres and continues to receive industry recognition including from the NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA).

David Grimm, Partner at Albion, comments:

“IONATE is pioneering grid technology that supports the energy and environmental requirements of modern grid infrastructure. Matthew and the team have quickly gained traction with utilities and strategics, showcasing the potential of their innovative full stack hardware-software solution. Their patented technology and first-mover advantage position IONATE to deliver a transformative, long-term product that brings the promise of clean electricity alongside performance requirements.”