Cooll has closed a funding round of over € 3 million. This will allow Cooll to further focus on making its innovative thermally driven hybrid heat pump market-ready.
To accelerate the energy transition for existing homes in an affordable and sustainable way, Cooll has developed a unique and innovative super-efficient hybrid heat pump in recent years.
With the assistance of No Five Trees in Utrecht, a number of informal investors with companies in installation and construction have invested a total of over € 3 million through an equity round. With this money, combined with development grants, Cooll will complete the product development of its first product, the SuperHybrid. Initially, 30 heat pumps will be tested in the field. At the same time, preparations are being made for further production and both the efficient domestic hot water function and the hydrogen solution are being developed.
Accelerating the energy transition for existing homes
Especially in the current period, there is a rapidly growing demand for affordable and sustainable replacement solutions for existing high-efficiency gas boilers in the built environment. Cooll’s technology is ideally suited for existing buildings with high-temperature radiators.
“Our heat pump saves at least 30% in natural gas compared to existing natural gas appliances without increased electricity consumption and without a noisy outdoor unit. Our heat pump is the one-to-one replacement of a high-efficiency gas boiler in one day. Affordability, comfort, less energy, lower CO2 emissions, easy installation and future-proofing are the strengths of our product. With this capital injection we can start focusing on the development of the first models for the market,” said Stefan van Uffelen, CEO and co-founder of Cooll Sustainable Energy Solutions B.V.
“Cooll’s heat pump contains a fundamentally new technology based on space technology. The heat pump is thermally driven instead of electrically powered. Our thermal heat pump can be powered by natural gas, green gas, hydrogen and, as a heat pump, uses outside air as a renewable energy source. The heat pump uses the existing supply and return ducts in the house. We expect the multiple-patented SuperHybrid technology to play an important role in the energy transition for the built environment,” said Johannes Burger, CTO and co-founder of Cooll Sustainable Energy Solutions B.V.
Cooll again thanks all the funding partners for their confidence in the team, the technology and the proposition. The current energy crisis in particular makes the relevance of Cooll’s heat pump increasingly evident.
The next round of funding which Cooll works on, involves the scale-up phase.
About Cooll
Cooll Sustainable Energy Solutions is a spin-off company of the University of Twente and is based in Enschede. The company grew from the development of innovative cooling and heat pump systems, including projects for the ESA (European Space Agency). Cooll develops compact heat pump technology. The team now consists of 30 employees.