SHENZHEN, China, May 9, 2024 /PRNewswire/ — i2Cool, a company specializing in electricity-free cooling technology, has attracted nearly HKD100 million (USD13.8 million) in its Series A round financing from Trustar Capital (the private equity investment business under CITIC Capital Holdings Limited), Future Times Technology Holding Company Limited, The Hong Kong and China Gas Company Limited, along with investors from earlier funding rounds. The committed capital in this round will be used to advance i2Cool’s R&D of new technologies, expand its product portfolio, and accelerate its push into global markets.
Dr. Martin Zhu, i2Cool’s Co-founder & CEO, stressed the importance of achieving this financial goal. He pointed out the strong need for electricity-free cooling technology in sectors like green buildings and industry to decrease heat, cut air conditioning expenses, increase efficiency, and enhance comfort. i2Cool meets this demand with its zero-energy, low-carbon cooling solutions.
As an innovator in green and energy-efficient materials, i2Cool is committed to advancing the R&D and practical application of electricity-free cooling with its flagship products, electricity-free cooling paint (iPaint) and electricity-free cooling film (iFilm), which have been implemented in over 100 projects globally across more than 20 countries and regions worldwide. The cooling solutions have found applications in industries including architecture, the chemical industry, power & telecom, new energy, logistics, grain storage, and photovoltaics.
The i2Cool R&D team, led by i2Cool’s Co-founder Professor Edwin TSO and stemming from the School of Energy and Environment at City University of Hong Kong, has dedicated seven years of scientific research to develop commercial applications supporting wide-scale deployment. For instance, iPaint leverages polymer blends and inorganic particles to achieve optimal optical and thermal properties, boasting an impressive 95% solar reflectivity and mid-infrared emissivity. For example, applying iPaint at a shopping mall owned by Hang Lung Properties reduced rooftop temperatures by up to 30.3°C, cutting air conditioning energy use by 42%.
Looking ahead, i2Cool is set to broaden its international presence, focusing on markets along the Belt and Road Initiative economic corridors including the Middle East and Southeast Asia. Following the successful application of its products at the Dubai Mall, i2Cool has also entered into strategic partnerships with local businesses in the United Arab Emirates.
For more information about i2Cool, please visit their official website at www.i2Cool.com.
Contact Information:
Branding Team, i2Cool
Email: pr@i2cool.com
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