🇫🇮 CooliBlade secures €1.75 million financing package to accelerate production automation ramp-up and global expansion

May 17, 2024

CooliBlade, the developer of NEOcore, the most efficient air-cooling technology on the market, announces the successful completion of a substantial €1.75 million financing package for the company’s growth phase. This funding, contributed by a mix of investors and Finnvera, Finland’s state-owned financing company, marks a significant milestone in CooliBlade’s ambitious growth trajectory.

“We are grateful to our investors and Finnvera for their trust and support in CooliBlade’s vision,” stated Janne Suhonen, CEO of CooliBlade. “This significant investment is aligned with our strategic direction and empowers us to advance our production capabilities and innovate further our next-generation product platforms. We are poised to set new industry standards in thermal management for high-power electronics, propelling our growth and reinforcing our global presence.”

Expansion of the manufacturing capacity at the Oulu site and globally through partnerships 

The new capital – will primarily be used to increase the company’s manufacturing capacity by integrating cutting-edge automation technologies into the CooliBlade manufacturing site. This move is part of a broader strategy to expand the current production facilities and streamline operations, ensuring CooliBlade can more efficiently meet the increasing demand for its innovative products.

Another scope of CooliBlade is to develop a local presence in manufacturing globally with our key accounts. CooliBlade invests in developing the automation level of manufacturing cells and streamlining the manufacturing process in parallel, increasing the quality of NEOcore products. The cost-efficiency is one of the critical goals in implementing our manufacturing strategy. The collaboration with local and global manufacturing partners plays a crucial role in this development.

A sneak peak to our coming semi-automated production line.

Global business acceleration sets the bar high

The new capital will support CooliBlade’s strategic initiatives to capture new markets internationally. The company plans to leverage this investment to strengthen its presence in its current high-potential markets and make a significant global impact. By focusing on applications such as EV charging, AC drives, and energy storages where CooliBlade’s technology can deliver the most impact, we are confident in our ability to revolutionize the thermal management sector worldwide.

CooliBlade is actively strengthening its leadership team as part of our expansion efforts. We are excited to announce the opening of a key position for a new Vice President of Sales. This strategic move underscores our commitment to forming stronger relationships with our global sales and manufacturing partners and clients. The first round of interviews for this position has already begun, and we look forward to welcoming a new member to our team soon.

This financial support arrives at a pivotal moment as CooliBlade continues to innovate within the high-power electronics sector, where effective thermal management is increasingly crucial. The power levels and densities of power modules are surging to levels where traditional air-cooling technologies are inadequate. With this new funding, CooliBlade is well-equipped to meet current customer needs and anticipate and address future demands in the rapidly changing tech landscape.

Originally published on 16 May by Cooliblade.

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