PRESS RELEASE - Incooling, a High Tech Campus Eindhoven based startup has closed an € 3.5 M pre-series A investment round with the German based Pierburg Pump Technology, part of the Sensors and Actuators Division of Rheinmetall AG. The investment, as well as the partnership, is not only another important step in Rheinmetall’s transformation into digital technologies and expansion into the data centre industry but is also aimed at supporting Incooling in bringing their next generation server solutions to the market.
As virtual services are playing an ever-increasing role in the daily lives of companies and people, data centres are under extreme pressure to reduce their CO2 footprint and optimise the energy input that often comes from the cities’ own grids, all whilst fulfilling the demand for delivering uncompromised performance. Incooling develops next generation, 2 phase cooled servers that achieve reliable world-class performance while significantly cutting down on the energy consumption levels.
Incooling’s server systems are being designed with phase change cooling technology and AI based control systems aimed at lowering the temperature at which CPUs currently operate. This allows the Incooling servers to achieve the fastest processor speeds with a lower energy consumption compared to what is currently available on the market. This is particularly beneficial for the most demanding applications such as artificial intelligence (AI), high performance computing (HPC), heavy R&D simulations as well as high frequency trading for banking solutions.
Rene Gansauge, CEO of Rheinmetall’s Sensors, and Actuators division indicated that: “This is an important, future-oriented partnership and investment for us in the context of our strategic transformation. The cutting-edge technology of Incooling represents a perfect complement to the competences of Rheinmetall. Rheinmetall will contribute with its expertise in thermal management, industrialization competence and as a technology partner. Together, we will create a digital and sustainable footprint.’’
Incooling found the partnership to be equally driven by both parties. Rudie Verweij, co-founder and CEO of Incooling explained: ‘’Raising an investment for hardware companies is not easy, especially when it comes to the semiconductor industry. We are so excited to partner up with a party that can not only provide capital but also support in creating a world class supply chain and offer unprecedented expertise in building ultra-reliable high-tech systems. We look forward to bringing our solutions to our pilot customers”.
In addition to the financial investment, The Sensors and Actuators Division of Rheinmetall will also support Incooling with expertise in high quality manufacturing and assembly processes. The collaboration will utilize Rheinmetall’s operational excellence in magnifying the innovation of Incooling. Importantly, the investment reinforces Rheinmetall’s capabilities in five strategic technology clusters: automation, sensors, digitization, alternative mobility, and artificial intelligence.