RSS

VCs back green cooling system

Article Date:  Jun 05 2008 Nick Britton

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.

Comments 

There are currently no comments on this article

Sign up and get...

  • Regular GrowthBusiness newsletters
  • Post comments on articles
Sign up

Trying to raise business finance?

The Vistage Guide to Raising Finance in The New Economy. It tells you what your options are and how best to present your case for business finance. Simply visit www.neweconomyblog.co.uk/rf2 to request your free copy.

Hiscox Business Insurance 

Life’s full of uncertainties, but you never want to be in any doubt about your business insurance. Hiscox offers broad and inclusive business insurance available online. You can tailor a policy to suit your business needs from a broad range of covers. Find out more.

Selecting the right IT strategy in 2010

Owner managers and CEOs of fast-growing companies want IT-applications that accelerate competitive advantage and improve operational efficiency. This free whitepaper helps you plan and choose the right IT strategy for your business in 2010. Download ‘Selecting The Right Software Vendor’.

Research

  • Directors' Pay AIM 2009

    What should an AIM company pay its CEO or FD?
    What should a non-executive director or chairman expect to be paid?
    What benchmarks should AIM remuneration committee members be using when
    setting pay?

VCT Special Report 2009

This reports principle aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest.

Cash Shells Special Report 2009

A comprehensive overview of cash shells on AIM and PLUS, companies that have become a significant feature on the market landscape.

More

Events Calendar

The Media Magnate Awards 2009

26th March, Vinopolis, London

More

More News: Fundraising Deals

ControlCircle raises £6 million

A company which manages data centres and internet connections for websites including KPMG and Rightmove has raised £6 million in growth capital.

HG Tech Fund opens for investment

A new fund is being launched under the Enterprise Investment Scheme (EIS), planning to secure tax breaks for its investors by backing growing companies.

RainStor raises Series B round

Data management software company RainStor has raised US$7.5 million (£5 million) from institutional and strategic investors.

Advertisement

Related articles

ControlCircle raises £6 million

A company which manages data centres and internet connections for websites including KPMG and Rightmove has raised £6 million in growth capital.

Carbon Trust joins Oxsensis investors

High temperature sensor developer Oxsensis has raised £3 million in a fundraising round including new investor Carbon Trust Investments.

Funding for Autoquake.com

Second-hand car retailer Autoquake.com has closed a £6 million round of venture capital and venture debt financing.

Loudspeaker company turns up the volume

University spin-out Warwick Audio Technologies has raised £1.5 million from investors to develop its loudspeaker technology.

Poll

What should Alistair Darling deliver in the Budget?




Have your vote on current issues

People who read this also read

  • 8 cracking VC deals

    From a £40 million deal to fund acquisitions in the music publishing business to a £900,000 investment in the advertising sector, the Business XL team highlight eight brilliant venture capital fundraisings.

  • London calling for MovaMail

    Jay Roberge, who heads up mobile messaging company MovaMail, which specialises in email applications for mobile phones, reveals the company has declined advances from VCs in the US, preferring to try and secure a London deal.

  • Glasses Direct secures £10 million

    A consortium of investors has committed £10 million to Glasses Direct, a company which supplies prescription glasses by post.

  • Successful bastards

    Self-centred, tough, ruthless and unpredictable: these are the characteristics of a successful person, according to a book published this week.

  • Learn to switch off

    Picture yourself in a situation where your bankers are becoming increasingly difficult or you are losing money and have to make job cuts among friends and colleagues to survive. It may not be that difficult to imagine.

White Papers

Better Roads

Serves the information needs of governments and construction contractors involved in Federal, State, County, City and Township highway, road and bridge construction, winter maintenance, roadside and vegetation management and other highway-related projects.

Defense Technology International

Is the one publication focusing on the critical role of defense technologies in programs, policies, programs and funding, providing readers with integrated intelligence and global perspective in Land, Sea, and Air.

FierceGovernmentIT

Is a free, three times a week email briefing for government employees and contractors on the latest government technology news.

More