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Cooltech Applications Grabs EURO8M

STRASBOURG, FRANCE, Specialist in Magnetic Refrigeration, has successfully raised EURO8 M to enable the final industrialization stage of its thermal machine.
Cooltech Applications, the specialist in Magnetic Refrigeration, has successfully raised EURO8 M to enable the final industrialization stage of its thermal machine to be implemented prior to its international commercialization by the end of this year.

Cooltech Applications, the first company to propose a global solution which is both ecological and industrial for the refrigeration and air conditioning markets using Magnetic Refrigeration technology, has recently raised EURO8 M of new capital from both its historic shareholders and two new investors: Demeter Partners and 123Venture.

Created in August 2003 and based near Strasbourg, Cooltech Applications has developed and industrialized through a EURO 20 M euro launch aid project - 'MagCop' which has been co-financed by France's Oseo-ISI organization, as a truly authentic and rare rupture technology based upon Magnetic Refrigeration principles. 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 - these varied global markets being measured in Billions of Euros.

Demeter Partners
Demeter Partners is the leading investment capital firm in Europe for Cleantech with more than 350 M EURO under management. Based in Paris, it was founded in 2005 and is owned by the management board. Demeter Partners specializes in eco-industries (water, air and waste treatment, site remediation,) and eco-energies (energy efficiency, renewable energies...) mostly for companies located in France, Germany and Spain. So far, Demeter has invested in more than 40 companies. Demeter invests within a wide range of companies: from innovating start-ups to mid-cap companies and supports them at all stages : creation, growth, transfer, with unitary mandates ranging from 0.5 to 15 M EURO.

Demeter has offices in Paris (France), Madrid (Spain) and Berlin (Germany).

123Venture is an independent Fund specialized in renewable energy and real estate. With over 815 M EURO of funds under management, 123Venture has become a sectorial reference in funding of SME's, small and medium sized enterprises. 123Venture has participated in over 260 SME investments in 9 countries.

TechFund Europe
TechFund Europe is a private equity firm focusing on early-stage investments in breakthrough technology companies. Investments are focused on core and enabling technology including digital media, networking, communications, and energy. TechFund's objective is to identify innovative companies early in their corporate development and assist those companies to rapidly build viable businesses, sustain growth over many years, and create enduring enterprises. TechFund Europe leverages its network of strategic partners and proactively assists its portfolio companies in accelerating their development. TechFund Europe Management has a pan-European focus and co-manages parts of FCPIs (Fonds Commun de Placement dans l'Innovation) and FIPs (Fonds d'Investissement de Proximite).

Cooltech Applications
Cooltech Applications is the first company in the world to propose a solution which is ecologic, economic and industrially viable, targeting the global refrigeration and air conditioning markets using magnetic refrigeration technology. Created in 2003 and based next to Strasbourg's airport, the company employs 33 odd staff of whom the majority are high level engineers with either scientific or industrial backgrounds. Heavily supported by the French Government's innovation arm - OSEO, Cooltech Applications has been engaged since 2010 in a 20 Million Euro industrialization project 'MAGCOP'. This program, actually now in its final phase, has permitted the industrial development and production line to be developed for a thermal machine to be produced in volume.
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