AAA Aveillant spots $10m

Aveillant spots $10m

Aveillant, a UK-based provider of technology to prevent wind turbines affecting airport radar, has raised £6.75m ($10m) from a consortium including Ireland-based utility ESB’s corporate venturing unit.

Alongside Greencoat Capital, which manages the €200m ($250m) ESB Novusmodus clean-tech fund, were venture capital firm DFJ Esprit and local advisers Cambridge Consultants.

Aveillant spun out from Cambridge Consultants, a subsidiary of high-tech engineering consultancy Altran, in 2011 with funding from DFJ and a loan from an aviation fund.

The Aviation Investment Fund Company, an organisation set up to provide financial support for entrepreneurs impacting flying, said it was now converting its loans to Aveillant into equity in the company.

Richard Nourse, managing partner of Greencoat Capital, said: “[Aveillant’s] 3D Holographic Radar is the most robust solution in the market, addressing the Civil Aviation Authority and Airport technical requirements and offering an affordable solution to the wind industry.”

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