Cooll’s unique heat pump receives two million euros of funding

 

In a new financing round in April 2021, Cooll raised two million euros in collaboration with No Five Trees from private investors and Energiefonds Overijssel.

After a successful demonstration of the technology in a housing association home, preparations are now being made for the market introduction. With the capital raised, Cooll will demonstrate the heat pump in larger numbers in homes in the coming year, and a pilot on hydrogen will be carried out in collaboration with a large international consortium

The Cooll heat pump is the one-to-one replacement for the condensing boiler in existing homes, can be combined with both high and low temperature heating and does not have a separate outdoor unit. The heat pump is powered by gas or hydrogen and extracts heat from the outside air, saving 30 to 50% on gas and reducing CO2 emissions by 30 to 50%. It is characteristic of Cooll that this happens without an increase in electricity consumption.

The heat pump is compact, quiet, low-maintenance and has a limited payback period. This makes the heat pump ideally suited for existing homes. Tens of euros are saved each month without loss of comfort. To meet the climate objectives, label improvements are made in an achievable and affordable way.

No Five Trees: “We are continuously looking for promising start-ups and believe that Cooll will make a major contribution to making the built environment more sustainable through its technology. As No Five Trees, we are proud to be able to contribute to this innovation.”

Energiefonds Overijssel: “We are delighted to be able to contribute to the promising development of Cooll’s technology. The sustainable heating of existing homes is a complex and, therefore, challenging issue. Cooll’s technology is an important link in this. With this investment, Cooll is able to prepare this innovative technology for its market introduction. Along with existing and new investors, we hereby express our confidence in a successful continuation.”

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