Magnotherm builds sustainable refrigeration systems that use a temperature-active metal to cool a water mixture, avoiding direct greenhouse-gas refrigerants. The company already sells a commercial beverage refrigerator called POLARIS, which it describes as the world's first room-temperature magnetic beverage cooler. With the new financing it plans to move POLARIS into series production and accelerate market development for refrigerated shelves in food retail. It intends to introduce a 3 kW refrigerated shelf for retailers and to validate magnetic hydrogen liquefaction in the lab with the Helmholtz-Zentrum Dresden-Rossendorf. Management says the magnetic cooling technology can be up to 40% more efficient than conventional solutions and produces no direct greenhouse gases. Company leaders mentioned in coverage include co-CEO Timur Sirman and founders referred to as Timur and Max. Magnotherm develops magnetic-cooling systems that use the magnetocaloric effect in resource‑efficient, iron‑based alloys to provide refrigeration and climate-control without conventional refrigerants. The technology can produce devices that use up to 50% less electricity than conventional gas‑vapor compressor systems, operate at very low working pressures, require less maintenance, and avoid climate‑damaging cooling fluids. The company has moved from university research toward commercialization and is building a team to scale development. With the new capital it plans to advance its existing laboratory prototype (which already cools beverages using magnet-based technology), acquire machines and equipment, and accelerate product development. Magnotherm also intends to run pilot projects with partners and expand its patent portfolio. Financially, the company recently closed a seed financing and previously raised a €1.4M pre-seed from public research and program sources.

Total raised

$8M

Funding rounds

2

Latest round

Seed

Latest activity

Apr 2023