World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

$44.4m for semi-conductor cooling firm

Cur-Phononic-Header-Electronics-Cooling1USA: Phononic, a company developing a thermoelectric cooling system, has secured a further $44.5m in funding.

The company, based in North Carolina, has already received $75.5m in three previous investment rounds.

The funding will be used to drive sales of the company’s solid state solutions in refrigeration and electronics cooling, penetrate new market opportunities and expand manufacturing capacity.

The company recently introduced its first-of-its-kind refrigeration product line for laboratories, research centres and medical facilities, complementing its residential commercialisation efforts. Phononic’s technology is now also being applied to fibre optics, telecommunications and data server infrastructure cooling.

“The last year has seen tremendous and exciting growth for Phononic as more people have become aware of the game-changing nature of our solid state thermal management technology,” said Phononic ceo Tony Atti. “This latest round of financing will enable us to deliver and expand comprehensive product solutions to our customers and partners.”

“Phononic is entering an exciting period of growth,” said Will Morton, Phononic board member and director at WLR China Energy Infrastructure Fund, a fund managed by a joint venture between Huaneng Power Company and Invesco WLRoss. “We believe Phononic’s cold product and cold chain refrigeration and electronics cooling solutions present a tremendous investment opportunity, and look forward to seeing Phononic continue to grow as an industry leader.”

Latest News

1st March 2024

Heat pump grant requests up 39%

UK: Applications for the UK’s boiler upgrade scheme in January were up 39% on January 2023, according to figures from the Department for Energy Security and Net Zero.
1st March 2024

Bitzer to launch new hydrocarbon compressors

GERMANY: Bitzer is to expand its range of compressors with new models for use with hydrocarbon refrigerants.
29th February 2024

BESA backing for WorldSkills UK

UK:The Building Engineering Services Association (BESA) is organising the refrigeration and air conditioning (RAC) category of the WorldSkills UK competition.
29th February 2024

Beijer Ref to acquire Australian firm QAE

SWEDEN/AUSTRALIA: Beijer Ref will expand its position in the Australian market with the agreement to acquire 60% of the shares in Sydney-based Quality Air Equipment (QAE).
29th February 2024

Chemours places CEO on administrative leave

USA: Chemours has placed its president and CEO Mark Newman, CFO Jonathan Lock and principal accounting officer Camela Wisel on administrative leave pending the completion of an internal review.
28th February 2024

Seeley to boost production in US export push

AUSTRALIA: Evaporative cooling equipment manufacturer Seeley International is to upgrade and expand its manufacturing plant in Lonsdale, South Australia, to boost exports to the USA.