Jan. 2, 2015: Phononic Raises $44.5 Million to Develop Its Solid-State Cooling
Funds to be Used to Drive Sales of Company’s Solutions for Refrigeration and Electronics Cooling
RALEIGH, N.C. — Phononic announced that it has secured $44.5 million in Series D funding. The company said the funds will be used to drive sales of the company’s solid-state cooling solutions for refrigeration and electronics cooling, pursue new market opportunities, and expand manufacturing capacity.
Phononic said its approach to cooling and heating uses semiconductor, or solid-state, technology to provide sustainable, distributed, convenient, and connected thermal management solutions. The company recently introduced its first-of-its-kind refrigeration product line for laboratories, research centers, and medical facilities, complementing its residential commercialization efforts. Phononic’s technology is now also being applied to fiber optics, telecommunications, and data server infrastructure cooling.
“The last year has seen tremendous and exciting growth for Phononic as more people have become aware of the game-changing nature of our solid-state thermal management technology,” said Tony Atti, CEO, Phononic. “This latest round of financing will enable us to deliver and expand comprehensive product solutions to our customers and partners.”
“Phononic is entering an exciting period of growth,” said Will Morton, a Phononic board member. “We believe Phononic’s cold product and cold chain refrigeration and electronics cooling solutions present a tremendous investment opportunity, and look forward to seeing Phononic continue to grow as an industry leader.”
For more information, visit www.phononic.com.
Publication date: 12/29/2014