Non-Electric Refrigeration Tech Firm i2Cool Secures CNY Hundred-Mn Series A Financing

Technology Author: Notrice May 09, 2024 01:44 PM (GMT+8)

EqualOcean has learned that on May 9th, i2Cool(创冷科技), a company specializing in non-electric refrigeration technology, successfully secured a Series A financing round worth CNY hundreds of million.

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Investors in this round include Trustar Capital(信宸资本), Peiport Holdings(彼岸时代科技控股), and Hong Kong and China Gas(香港中华煤气), with many existing shareholders participating in follow-on investments. The funds raised in this round will be primarily used for i2Cool's technological research and development, expansion of product lines, and global market development.

It is worth mentioning that this financing round marks the fourth round of financing for i2Cool in the past two years. Previous investors include China Prosperity Capital(国宏嘉信), HKX Fund(HKX基金), New Vision, XBOTPARK Fund(清水湾基金), and Silicon Harb(硅港资本). Additionally, i2Cool has received incubation support from the HK Tech 300 Innovation and Entrepreneurship Program of the City University of Hong Kong and the Hong Kong Science and Technology Park Corporation.

Founded in 2022 and headquartered in Shenzhen, Guangdong Province, i2Cool is a green energy-saving materials company specializing in the research and application of passive radiation refrigeration technology. Its core products, iPaint and iFilm, have been applied in over 100 projects worldwide, covering more than 20 countries and regions including mainland China, Hong Kong, Macau, Southeast Asia, the Middle East, and Europe and America. These products find extensive applications in fields such as construction, chemical industry, power communication, new energy, logistics, grain storage, and photovoltaics. Meanwhile, the company is committed to building a non-electric refrigeration ecosystem and accelerating the commercialization of diverse products such as refrigeration ceramics, temperature control textiles, and automotive paint.

The company's core research and development team comes from the City University of Hong Kong, with their research results published in top international journals such as "Science". Co-founder Cao Zhiyin is an associate professor at the School of Energy and Environment of the City University of Hong Kong, and one of the top scientists globally, while co-founder and CEO Zhu Yihao holds a Ph.D. from the School of Energy and Environment of the City University of Hong Kong and is also a member of the Hong Kong Green Technology and Financial Development Committee.

Originating from Hong Kong and based in the Greater Bay Area, i2Cool fully leverages the ecological environment of Hong Kong's scientific and technological innovation and the industrial chain advantages of the Greater Bay Area to actively explore innovative energy-saving solutions to address issues such as climate change and urban heat island effects. The company applies non-electric refrigeration technology in global energy-saving and emission reduction practices. In terms of market expansion, i2Cool has established a broad cooperation network in Hong Kong and mainland China and actively expands its global market through agent channels, commercial activities, and cooperation with government and enterprises.

Under the background of the Belt and Road Initiative(一带一路倡议), the company fully utilizes policy advantages, focusing on hot climate countries and regions such as the Middle East and Southeast Asia, to promote the internationalization and implementation of energy-saving and environmental protection technologies. Currently, i2Cool's products have been successfully applied in Dubai shopping centers, and the company has signed strategic cooperation agreements with local enterprises in the UAE.