Cooltech Applications, a Strasbourg, France-based provider of magnetic refrigeration solutions, raised €8m in funding.
Backers included existing shareholders and new investors Demeter Partners and 123Venture.
The company intends to use the capital to finalize the industrialization of its thermal machine to enable sales to start by the end of 2012 as well as to accelerate its international commercialization.
Created in August 2003 by Christian Muller, Cooltech Applications has developed magnetic cooling systems through prototype manufacturing and testing and assist its customers with the integration of magneto caloric systems. The technology being industrialized addresses a wide range of applications in both the refrigeration and air conditioning markets – commercial refrigeration, industrial or domestic, air conditioning of vehicles and buildings.
FinSMEs
10/04/2013