Omnes injects €1.5m into Cooltech

The company plans on first commercialising its product within the refrigerated display and counter market.

Cooltech Applications previously received funding from the French government's innovation arm Oséo and has been part of the €20m industrialisation project Magcop since 2010. Magcop, now in its final phase, has allowed the industrialisation and the development of a production line for Cooltech's thermal machine.

Previous funding
The company's most recent funding round prior to Omnes' capital injection took place in April this year. New investors 123 Venture and Demeter Partners led an €8m funding round for the company alongside existing backers Ace Management, Sodiv and TechFund Capital Europe (TechFund AIRFI).

Prior to that, the company had received funding from Ace Management, Sodic and TechFund.

Company
Founded in 2003, Cooltech is headquartered in Holtzheim near Strasbourg, with a sales and marketing office in Paris. The company employs close to 30 staff.

Cooltech has developed a magnetic refrigeration system that it claims is economical and environmentally-friendly. The company's product is designed to replace traditional gas cooling systems in home appliances.

Cooltech's product works by a controlled magnetic field that applies magnetisation-demagnetisation cycles to magnetocaloric alloys. The magnetocaloric effect, discovered in the 19th century, is when the temperature of a material can be altered by exposure to a changing magnetic field.

People
Christian Muller is the founder and CEO of Cooltech. Michel de Lempdes, a partner and the co-head of venture capital at Omnes, worked on the deal for the firm.

Advisers
Equity - Chammas & Marcheteau, Arys Serdjanian, Lola Chammas (Legal).
Company - Pinot de Villechenon & Associés, Morgan Hunault-Berret, Alexander Kotopoulis (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• France
• Industrials
• Early-stage
• Omnes Capital
• 123Venture
• Demeter Partners
• ACE Management
• France