OXOLUTIA wins 300,000 euro investment from Victoria Venture Capital
Superconductivity. That is the property that led a research group of the Materials Science Institute of Barcelona (ICMAB-CSIC) to found OXOLUTIA SL back in 2010, a technology-based company that developes advanced products for improving the energy efficiency that can also avoid blackouts in the grid or enable new low cost solar cells.
The spin-off from the Research Park of Barcelona Autonomous University has recently incorporated Victoria Venture Capital to its shareholders, a venture capital firm residing at Vic (Barcelona), which is specialized in investments in disruptive technologies for solving global challenges. The firm, commanded by Abel Conill, has injected 300,000 € in OXOLUTIA, which will accelerate the technological development towards the energy sector and assist in the market penetration.
Founded by researchers Xavier Obradors, Teresa Puig, Xavier Granados, Susagna Ricart and Alberto Calleja (CEO) , OXOLUTIA has raised 1.3 M€ from its creation. In addition to VICTORIA, the metallurgical group LA FARGA owns a minority part of the equity.
Apart from the 300,000€ invested by the strategic partner VICTORIA, an additional amount of 1.5 M€ is expected to come from subsidies and loans from the European Union public entities.
The company has a scientific committee integrated by the founding partners, of recognized international prestige in the field of superconductivity, and a specialized staff of 7 people. In 2015, the incomes totalized 370,000 €, including product sales and private research contracts.
According to the company, customers mainly belong to Germany, Israel and United States.
The company develops advanced materials in the field of superconductivity with a nanotechnological approach, being committed to functional oxides and second-generation superconductor tapes, in particular. These products allow, for instance, the manufacturing of more efficient and lighter high power aerogenerators. They also contribute to avoid power blackouts in the event of strong peak electrical demands.
Another business line of OXOLUTIA consists in new oxide solar cells fabricated by low cost 3D-printing, which have the potential to make solar energy more profitable.
PHOTOGRAPH Footnote: (from left to right) Research partners Xavier Granados, Xavier Obradors, Teresa Puig, Alberto Calleja and Susagna Ricart.