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Press Release
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Calyos has successfully closed a €4.4m financing round to fund its growth over the next years.
Calyos, a Belgian technology company focussing on a sustainable offering for thermal management within e-mobility, computing, renewable energy and specialized equipment. Calyos has raised an additional EUR 4.4 million from its current investors to further fuel the company's growth.
In today’s world, electrification and connectivity are increasing sharply. For example, the number of electric vehicles to be sold in 2030 is expected to be twelve times the number in 2020. The need for advanced thermal solutions is therefore evermore critical. In parallel, the urgent need to reduce CO2 emissions means that sustainable thermal solutions like the ones proposed by Calyos are becoming a must.
Calyos has developed unique two-phase cooling solutions that allow component cooling using the latent heat of vaporisation. Calyos’ technology is fully passive, does not need power nor a pump to function and offers the most sustainable thermal approach. Both the e-mobility and computing industries are transforming to become electrified and sustainable, Calyos technologies therefore align well with these trends.
This funding will enable Calyos to enter the next phase in its development. This will include strengthening Calyos’ operational footprint by adding several new people and facilitating Calyos to further industrialise its solutions as the company moves into serial production. With this investment, Calyos will also be able to accelerate the application development and optimisation of its technology as required by the market. High-heat flux evaporators are expected to soon be a key requirement in the computing market; and the development of new design architectures for e-mobility and electric vehicles are clear examples.
“The team and I are thrilled with the latest funding round, allowing us to continue to develop our innovative thermal solutions and expand our operations so that we will be able to better support our customers and partners,” says CEO of Calyos, Antoine de Ryckel. “We look forward to continuing our mission to solve the greatest thermal challenges by enabling the adoption of the best, passive two-phase cooling solutions”.
This funding round includes investments from FIDIC, Finindus, Invest for Jobs, Sambrinvest, SFPI/FPIM, and private investors. In approximately two years Calyos will be looking to scale-up with the support of strategic industrial investors.
"We are thankful to Calyos' shareholders for their continued support. With our fantastic team that includes probably the best thermal experts around, and our partnerships that shape a great future, Calyos has a solid foundation to become a worldwide player in two-phase thermal management technology” says Etienne Van de Kerckhove, Chairman of Calyos.
Further reading:
What
Calyos is one of the world's leading experts in two-phase (liquid to vapour) heat transfer technologies. Calyos has developed a number of solutions for three specific cooling applications; power electronics, processors and batteries. Calyos also develops custom solutions beyond those applications for example, engine oil heat recovery. Calyos primarily targets the E-Mobility and Computing markets, where electrification and data processing are creating ever-rising demand for new, disruptive thermal solutions.
When
Calyos was incorporated in 2014 and is a spin-off from Euro Heat Pipes (EHP) who successfully developed similar two-phase technology for the space industry. EHP was incorporated in 2001 and today holds a majority market share in the European satellite market. Airbus D&S is now the majority shareholder in EHP. Calyos has been developing the technology for ground applications. This has involved a considerable amount of research and development, including developing flat evaporators, switching the working fluid to a dielectric green refrigerant and working on real-world applications such as those mentioned above.
Where
Calyos is based in Charleroi, Belgium. Calyos operates a factory side-by-side with our engineering team at this location and currently all of Calyos' production comes from this factory. Calyos supplies its products all across the world, including Asia, North America, Europe and South America.
Who
At Calyos we are a diverse group of talented individuals galvanised by the pursuit of establishing our disruptive, sustainable technology in our target markets. Remaining curious enables continued innovation as we work together to achieve our mission.
How
Calyos is built around four core values:
1. Applied Knowledge: Our technology is worthless unless we can get in it out there in the market. We strive to apply our knowledge and experience to real world applications.
2. Better Together: We succeed together. We view everyone from our customers to our shareholders as part of our team. Without working together we are nothing.
3. Inherent Flexibility: No thermal problem is the same. Therefore we strive to build flexibility into not only our solutions but also our working practices. This allows us to evolve with the market.
4. R-R-Research: Nothing stands still. As experts in our field, we must continue to innovate. We can then return to our first point and re-apply these innovations to real world applications.
Why
Our mission is to solve the greatest thermal challenges by enabling the adoption of the best, passive two-phase cooling solutions. Ensuring and delivering a sustainable approach to thermal management in the data-driven and electrified world we are creating.
Ben Sutton
Marketing & Business Development Manager
The European Regional Development Fund and Wallonia invest in your future.
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