Laki Power Nýsköpun
Article - 20/01/2021

Laki Power Awarded EU Grant

Laki Power, the world's leading provider of innovative high voltage surveillance and real-time monitoring for transmission systems, today announced it received a significant grant of EUR 2.1m from the European Commission. The grant will be used to accelerate Laki Power's product development and marketing efforts and will help Laki Power reach power grid operators in Europe. 

Laki Power was recognized as one of Europe's most promising start-ups and was selected through a highly competitive evaluation process by a panel of external experts. The funding, which is the last round in the pilot phase of the European Innovation Council Accelerator, received more than 4,200 applications – the highest number it has ever received.  Laki Power was founded in 2015 by Mannvit and CTO Óskar Valtýrsson and has developed monitoring systems for high voltage power grid operators. Laki Power's advanced hardware and software solutions provide innovative tools for many of the most pressing issues faced by transmission system operators today. 


Laki Power is a leading provider of high voltage surveillance technology, real-time monitoring and analytics for transmission systems that transform the way line monitoring takes place for transmission system operators (TSOs) and distribution system operators (DSOs). Laki Power’s 24/7 real-time technology gives a complete picture of line performance and activity, dramatically enhancing the ability of TSOs and DSOs to optimise performance, reduce costs, increase safety and security, and improve resilience. Powered by a unique current harvesting system that sits directly on the phase wire, Laki Power's technology provides continuous monitoring, enabling real-time insight into line health for customers at a fraction of the cost of existing solutions.

Photo: Þórdís Kolbrún Reykfjörð Gylfadóttir, Minister of Tourism, Industry and Innovation, presented Oskar Valtyrsson, founder and CTO of Laki Power with a Letter of Support from the Ministry.