Magnotherm Raises A Cool €5 Million To Kick Start Mass Production Of Refrigerators

Apr 04, 2023•over 2 years ago

Amount Raised

€5 Million

Darmstadt

Investors

Christoph BehnWilli TscheschnerArne StoschekKatrin PucknatLauda Dr R. Wobser Beteiligungs GmbhBmh Beteiligungs Managementgesellschaft Hessen Mb HExtantia Capital

Description

Darmstadt-based climate tech start-up Magnotherm has closed a €5 million Seed round to mass produce first sustainable refrigerator.

Company Information

Company

Magnotherm

Location

Darmstadt, Hesse, Germany

About

MAGNOTHERM® is an emerging university spin-off from Technische Universität Darmstadt with world leading expertise in permanent magnets and magnetic cooling. Our technology, based on solid state materials and water, is capable of replacing standard gas compression cooling or heating solutions in compliance with current and future f-gase regulation standards. Our developed cutting-edge energy conversion solutions allow cooling and heating with low pressure systems (approx. 0.5 bar) and is 40% more efficient than current systems. At the same time it complies with all current and future EU F-gas regulations, is explosion free and non-imflammable. It is efficiently scalable in all sizes (from 0.5 to 5 kW) for thermal energy conversion units in decentralized, mid-range powered applications. With our 100% green technology, we are able to meet the world’s fast growing demand of clean and sustainable cooling and heating applications.

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