Since its debut, the company has been financed by industrial groups Marcel Dassault and Erasteel, an advanced materials subsidiary of Eramet Group that makes lanthane-based alloys, an essential element of the magnetic refrigeration technology used by Cooltech.
Cooltech Applications, a France-based provider of refrigeration and air conditioning technology, has raised €8m ($10m) from a consortium including two local corporations.
Since its debut, the company has been financed by industrial groups Marcel Dassault and Erasteel, an advanced materials subsidiary of Eramet Group that makes lanthane-based alloys, an essential element of the magnetic refrigeration technology used by Cooltech.
Cooltech’s other investors are venture funds Ace Management, TechFund Europe, Demeter Partners and 123Venture.
Founded in August 2003, Cooltech has developed…
