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
Photo - https://mma.prnewswire.com/media/2408552/1.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/i2cool-attracts-close-to-hkd100-million-in-series-a-financing-to-propel-the-development-of-green-and-energy-efficient-radiative-cooling-solutions-302140713.html