• Future Investment in Magnetic Cooling Technology
    From left Maximilian Fries, Timur Sirmann and Dr Gunther Wobser

News & Views

Future Investment in Magnetic Cooling Technology

Apr 06 2023

Temperature control specialist Lauda, along with other investors have completed a finance round supporting start-up MAGNOTHERM, a developer of solutions that do not use refrigerants for cooling applications.  With funds concluding at over €5 million, the multiple award-winning start-up plans to start serial production of its first sustainable refrigerator. Lauda has been following the development of this promising new enterprise from Darmstadt since 2019, through its innovative subsidiary new.degree GmbH. The two companies now want to utilise this longstanding relationship and the latest investment of €300,000 to identify strategic reference points for subject areas and projects of shared interest.

MAGNOTHERM was founded out of the Technical University of Darmstadt by the current managing directors, Dr Maximilian Fries and Timur Sirmann and develops sustainable cooling solutions without the use of conventional industrial refrigerants – which are often harmful to the climate. Its technology is based on the use of a temperature-active, magnetic metal to cool a water mixture. In principle, this revolutionary technology can be used for any type of cooling – an advantage that has piqued the interest of the Lauda, a market leader for precise temperature control.

“Equipment from Lauda is used to control temperature in the applications and processes of major future industries around the world,” explained Dr Mario Englert who, as Chief Financial Officer, is responsible for investments.

President and CEO, Dr Gunther Wobser added: “As a world market leader, we want to make the world a better place with precise temperatures – that is our vision and what we put into practice every day. In the future, energy-efficient systems will be needed that conserve resources and minimise harmful emissions. MAGNOTHERM has taken an important step in the right direction, which complements our technological expertise as a world market leader. With our investment, we are laying the foundation stone for a successful collaboration between the start-up and industry and can benefit from one another.”

More information online


Digital Edition

Lab Asia 31.2 April 2024

April 2024

In This Edition Chromatography Articles - Approaches to troubleshooting an SPE method for the analysis of oligonucleotides (pt i) - High-precision liquid flow processes demand full fluidic c...

View all digital editions

Events

Microbiology Society Annual Conference 2024

Apr 08 2024 Edinburgh 2024

analytica 2024

Apr 09 2024 Munich, Germany

ChemBio Finland 2024

Apr 10 2024 Helsinki, Finland

Analytica Anacon India & IndiaLabExpo

Apr 15 2024 Mumbai, India

Analitika Expo 2024

Apr 16 2024 Moscow, Russia

View all events