Tuesday, June 28, 2022
Green Reporter
  • Home
  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation
No Result
View All Result
  • Home
  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation
No Result
View All Result
Green Reporter
No Result
View All Result
Home Investment

Climate friendly cooling tech firm gets $50 mln from Goldman Sachs

GrR by GrR
July 21, 2021
in Investment
0
56
SHARES
242
VIEWS
Share on FacebookShare on Twitter


July 21 (Reuters) – Chemicals used in air conditioning, freezers and refrigeration have long hurt the environment by destroying the ozone layer and polluting water sources, but technology is starting to change the way we keep cool.

Phononic, a startup based in Durham North Carolina using a material called bismuth telluride to make so-called cooling chips, on Wednesday said it raised $50 million from Goldman Sachs Asset Management. (GSAMB.UL)

When electricity runs through the chip the current takes heat with it leaving one side of the chip to cool and the other to heat up, said Tony Atti, Phononic co-founder and CEO.

The chips can be as small as a fraction of a fingernail or as big as a fist depending on how much coolants are needed and have been used to create compact freezers for vaccine transportation or for ice-cream at convenience stores like Circle K, he said. A more recent and fast growing use is to prevent overheating in lidars, laser-based sensors in autonomous cars, and optical transceivers for 5G data transmission, said Atti.

“The historical refrigerants that had been used for vapor compression systems, they are both toxic and global warming contributors,” said Atti. While the global warming impact had been reduced, refrigerants still had issues with toxicity and flammability.

Atti said while the bismuth telluride powder itself is toxic, when it is processed into a semiconductor wafer and made into a chip, it is “benign” and can be recycled or disposed as its meets all chip safety and disposal standards.

The cooling chips are manufactured in Phononic’s own factory in Durham and for mass production the company is working with Thailand based Fabrinet (FN.N). The freezers for vaccines and ice-cream are built in China by contract manufacturers and carry the brands of Phononic’s customers or in some cases are co-branded, he said.

The funding will be used to build out high-volume manufacturing and to expand Phononic’s markets and product line.

Atti declined to share the latest valuation of Phononic but said it was “north of half a billion dollars”. Previous investors include Temasek Holdings (TEM.UL) and private equity and venture capital firm Oak Investment Partners.

Reporting By Jane Lanhee Lee; editing by Richard Pullin

Our Standards: The Thomson Reuters Trust Principles.



Source link

Previous Post

3M Open 2021 picks: Our expert caddie on Matthew Wolff: ‘He’s got to be the bet’ | Golf News and Tour Information

Next Post

Climate change, migration: How Merkel’s successors measure up | Germany| News and in-depth reporting from Berlin and beyond | DW

GrR

GrR

Green Reporter is a global source for news of sustainability, green industry, green technology, clear energy, sustainable food production, and green investments. Our aim is to deliver the best news and information to you.

Next Post

Climate change, migration: How Merkel’s successors measure up | Germany| News and in-depth reporting from Berlin and beyond | DW

  • Trending
  • Comments
  • Latest

Climate change in our backyard: Manitoba begins to grapple with the consequences – Winnipeg

August 10, 2021

Repsol starts marketing debut sustainability-linked bond sale

June 29, 2021

Sustainability Ambitions Soaring at KCI

December 6, 2021

Chris Pratt explains where the White Spikes originated

July 3, 2021
Stop burning our rights! What governments and corporations must do to protect humanity from the climate crisis – World

Stop burning our rights! What governments and corporations must do to protect humanity from the climate crisis – World

Biden said to mull dropping corporate tax hike to fund jobs plan

Biden said to mull dropping corporate tax hike to fund jobs plan

Global investors pressure Asian utilities to cut emissions

Global investors pressure Asian utilities to cut emissions

Global inequity could derail path to net zero

Global inequity could derail path to net zero

In thinking about climate change, positivity is a big plus

June 28, 2022

Energy Dome Closes $11M Convertible Round to Accelerate Commercial Deployment of CO2 Battery

June 28, 2022

How one airline’s blue-sky thinking has resulted in a clear strategy for sustainability

June 28, 2022

How to keep the conversation on food sustainability alive

June 28, 2022

Recent News

In thinking about climate change, positivity is a big plus

June 28, 2022

Energy Dome Closes $11M Convertible Round to Accelerate Commercial Deployment of CO2 Battery

June 28, 2022

How one airline’s blue-sky thinking has resulted in a clear strategy for sustainability

June 28, 2022

How to keep the conversation on food sustainability alive

June 28, 2022

Recent News

In thinking about climate change, positivity is a big plus

June 28, 2022

Energy Dome Closes $11M Convertible Round to Accelerate Commercial Deployment of CO2 Battery

June 28, 2022

How one airline’s blue-sky thinking has resulted in a clear strategy for sustainability

June 28, 2022

Browse by Category

  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation

Follow Us

  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise

© 2021 Copyright Green Reporter

No Result
View All Result
  • Home
  • Biodiversity
  • Climate Change
  • Energy
  • Filmmaking
  • Food
  • Investment
  • Management
  • Sustainability
  • Technology
  • Transportation

© 2021 Copyright Green Reporter