Omnes Capital invests 1.5 million euros in Cooltech Applications

For immediate release – December 23, 2013

Omnes Capital invests 1.5 million euros in Cooltech Applications, company specialised in magnetic refrigeration, as the third new investor in 2013, after Demeter Partners and 123Venture, joining historical financial investors (TechFund (Airfi), SODIV, ACE) 

Cooltech Applications is the world leader of magnetic refrigeration solutions and is on the 2103 Global Cleantech 100 list which rewards the most innovative and promising companies in cleantechs. 

Cooltech Applications is indeed the first company in the world to offer economical, industrial and environment-friendly refrigeration and air-conditioning solutions, based on the magnetic cold technology. The first targeted market is commercial cold. 

Magnetic cold is presented as the most credible alternative to existing compression based refrigeration technologies by the American Department of Energy and the European Commission. This clean, silent and reliable technology contains no glasshouse effect gases and will transform the refrigeration industry in the coming years by offering more performance and flexibility. 

«Magnetic cold developed by our company imposes itself as the solution that meets the needs of both the industry and users of refrigeration and air-conditioning, who are strongly in demand for an alternative to refrigerant gas compressors» declares Christian Muller, founder and CEO of Cooltech Applications. «After an in depth market analysis, we have chosen the market of refrigerated displays as our first market segment, where magnetic cold will bring a strong economical and environmental advantage».

Michel de Lempdes, Partner and Co-Head of Venture Capital, Omnes Capital, adds: «Cooltech Applications brings a real breakthrough in refrigeration with its magnetic cold technology which will allow energy savings of nearly 40%. We are convinced that the future of refrigeration lies in magnetic cold, more reliable and inherently more efficient than compression refrigeration technologies. We have been particularly seduced by the quality of the developments and the industrialisation work realised by Cooltech Applications».

Parties involved 

Omnes Capital
Michel de Lempdes, Partner and Co-Head of Venture Capital

Omnes Capital Legal Advisors: 
Chammas & Marcheteau (Arys Serdjanian & Lola Chammas)

Company Legal Advisors: 
Pinot de Villechenon & Associés (Morgan Hunault-Berret & Alexander Kotopoulis)

About Cooltech Applications
Cooltech Applications is the first company in the world to offer economical, industrial and environment-friendly refrigeration and air-conditioning solutions, based on the magnetic cold technology. The first targeted market is commercial cold. Created in August 2014 and based close to the Strasbourg airport, the company employs close to 30 employees, mostly high level industrial and scientific engineers. Strongly supported by BPI France, Cooltech engaged the MagCop project in 2010, with a 20 million euros budget. This program, now in its final phase and co-financed by the shareholders and BPI-ISI (Strategic Industrial Innovation) has allowed the development of the thermic machine and the implementation of the first means of production. Since inception, the company has been financed by large industrial groups  and by investment funds: 123Venture, ACE Management, Demeter Partners, TechFund Europe Management (FCPR Airfi) et Sodiv.

About Omnes Capital (formerly Crédit Agricole Private Equity)
Omnes Capital is a major player in private equity, with a commitment to financing SMEs. With €1.8 billion in assets under management, Omnes capital provides companies with the capital needed to finance their growth and with key expertise in a number of areas: Mid and Small Cap Buyout & Growth Capital, Venture Capital in technology and life sciences, Renewable Energy, Mezzanine, Secondary Funds of Funds, Co-Investment. Omnes Capital, formerly Crédit Agricole Private Equity, was a subsidiary of Crédit Agricole until March 2012 when the company gained its independence. Omnes Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). Further information: www-rec.omnescapital.com 

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