SuperNode, a technology company specialising in superconducting transmission technology for the renewable energy sector, has announced plans for a €40m investment to continue growth in Ireland.

Supported by the Irish Government through IDA Ireland, this investment will further support its development and production of high temperature superconducting (HTS) cable systems.

Superconducting cables can transfer renewable electricity with significantly reduced losses, costs and environmental footprint compared with conventional cable technology.

SuperNode's cables use liquid nitrogen to cool them to cryogenic temperatures, achieving a state of superconductivity that enables highly efficient and high-density power transfer.

Superconducting cables can transfer renewable electricity with significantly reduced losses, costs and environmental footprint compared with conventional cable technology.

These cables can transfer up to five times more power than conventional cables at substantially lower voltage levels.

With over 60 staff members working out of its technology centre in Dublin, the company expects that its superconducting cables will be commercially available by the end of the decade.

Commenting on the announcement, SuperNode CEO John Fitzgerald said: “With the right support from Government, Ireland can become a European hub for critical grid and renewable energy enabling technologies - SuperNode is excited for the opportunities that lie ahead.”