Cooltech Applications designs and industrializes magnetocaloric (magnetic refrigeration) thermal machines intended for commercial, industrial, domestic refrigeration and vehicle/building air‑conditioning. The company has completed a €20M industrialization program called MagCop (co‑financed by France’s OSEO‑ISI) and holds a large portfolio of international patents protecting its technology. It employs about 33 staff, mostly engineers, and says its technology eliminates the need for gas and can halve electricity consumption versus classic systems. Cooltech is targeting supermarket refrigerated counters as its first commercial entry point and plans to follow with hybrid and electric vehicle HVAC applications. The company intends to launch a first series production line and start sales by the end of the year and accelerate international commercialization thereafter. Recent investors describe the technology as a significant industrial and environmental opportunity with a defensible technological barrier in magnetism, materials and thermal systems.

Total raised

$10M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2013