Thursday 5th June 2008
VCs back green cooling system
Cooling technology developer Thermal Energy Systems has secured £300,000 from three venture capital (VC) investors. The company’s systems substitute the refrigerants usually used in cooling systems with alternative chemicals that have a lower carbon footprint.
The funding comprises £125,000 from NESTA, a government-backed body set up to support innovation in the UK, with the remaining funds contributed by the Liverpool Seed Fund and Enterprise Ventures.
The cash will be used to develop a demonstration rig to showcase the technology to manufacturers of refrigeration and air conditioning systems. The company says it is already in discussions with potential customers.
Thermal Energy Systems director John Poole comments: ‘This funding will allow us to take forward our cutting-edge idea and turn it into a physical demonstration model, which is already receiving substantial interest from the industry.’
According to the company, its technology utilises existing commercial components, allowing manufacturers to adopt it without the need for extensive retooling of production facilities.
Nick Britton
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