Climate-friendly cooling technology company wins $ 50 million from Goldman Sachs

Phononic’s thermoelectric cooler (TEC) can be seen in the image of this distribution released on July 21, 2021. Photo taken in 2019 in Durham, North Carolina, USA. Distribution via PHONONIC / REUTERS

July 21, 2021

Jane Lanch Lee

(Reuters) – Chemicals used in air conditioning, freezers and refrigeration have long had a negative impact on the environment by destroying the ozone layer and polluting water sources, but technology has changed our way of cooling. I’m starting.

Phononic, a Durham-based startup that makes so-called cooling chips using a material called tellurized bismuth, said it raised $ 50 million from Goldman Sachs Asset Management on Wednesday.

Tony Atti, co-founder and CEO of Phononic, states that when electricity flows through a chip, the current heats up, causing one side of the chip to cool and the other to heat up.

The chips can be as large as a small part of the nail to the fist, depending on the amount of coolant needed, creating a compact freezer for ice cream at convenience stores such as vaccine transport and Circle K. Has been used for. .. Recent rapidly growing applications are to prevent overheating of lidar, laser-based sensors for self-driving cars, and optical transceivers for 5G data transmission.

β€œThe historic refrigerants used in vapor compression systems are toxic and a source of global warming,” said Atti. Although the effects of global warming have been mitigated, refrigerants still have toxicity and flammability issues.

According to Ati, the tellurized bismuth powder itself is toxic, but when processed into semiconductor wafers into chips, it is “good” and meets all the safety and disposal standards of the chip and is therefore recycled or discarded. I can do it.

The cooling chips are manufactured at Phononic’s own factory in Durham, and the company is working with Thailand-based Fabrinet for mass production. Freezers for vaccines and ice cream are manufactured in China by contract manufacturers and have or are in some cases co-branded by Phonic’s customers, he said.

The funds will be used to build mass production and expand the phononic market and product line.

Ati refused to share the latest phononic rating, but said it was “$ 500 million north.” Former investors include Temasek Holdings, private equity and venture capital firm Oak Investment Partners.

(Report by Jane Lanhee Lee, edited by Richard Pullin)

Climate-friendly cooling technology company wins $ 50 million from Goldman Sachs

Source link Climate-friendly cooling technology company wins $ 50 million from Goldman Sachs

Back to top button