Cooltech Applications

About Cooltech Applications

Cooltech Applications S.A.S. was a French company established in 2003 by Christian Muller, positioned as a developer of magnetic refrigeration systems. The firm's core business was the commercialization of a compressor-less, gas-free cooling technology based on the magnetocaloric effect (MCE). This process involves the heating and cooling of a magnetic material by applying a magnetic field, offering an alternative to traditional vapor-compression refrigeration. The company operated out of Holtzheim, France, and, despite raising significant capital, is now reported as out of business.

The company's primary product was the Magnetic Refrigeration System (MRS), which used a water-based coolant instead of refrigerant gases, substances often linked to climate change. This design aimed to provide a more environmentally friendly solution by eliminating pollutant gases and reducing energy consumption by up to 50%. Additional benefits included a significant reduction in noise, with operating levels under 35db, and lower maintenance costs due to the system's low-pressure, low-rotational speed mechanics. Cooltech developed a substantial intellectual property portfolio, holding over 300 patents across 40 countries.

Cooltech targeted the commercial refrigeration market, a sector valued at over $20 billion annually. Its MRS product line, with cooling capacities from 200W to 700W, was designed for integration into various commercial appliances such as medical refrigerators, beverage dispensers, wine cellars, and refrigerated display cabinets for retail. The business model focused on partnering with original equipment manufacturers (OEMs) to integrate the MRS technology into their products. Notable partnerships included collaborations with medical equipment manufacturer Kirsch International, display cabinet maker OCF, and a trial with the major retailer Carrefour. In 2016, the company expanded its reach to the US through a partnership with Michigan-based Structural Concepts. The company had also started the development of higher-capacity systems (20kW and above) for industrial applications.

Throughout its operation, Cooltech Applications secured $12.5 million in funding over three rounds from investors including Omnes Capital, Demeter, and 123 Investment Managers. In September 2017, Pierre-Yves Rollet, an executive with a background at Carrier Corporation and LG Electronics, was appointed CEO to accelerate global deployment. The founder, Christian Muller, transitioned to the role of General Manager and Chief Scientific Officer to focus on technology development. Despite these efforts and its technological advancements, the company ultimately ceased operations, with its status listed as "Out of Business" as of late 2019.