With this funding, Nuventix will bring similar cooling design innovation to other markets.
AUSTIN, Texas (PRWEB) July 16, 2008
The funding will be used to expand the company's product offering for new markets where harsh environment cooling would benefit from a new approach to thermal management such as telecommunications and outdoor lighting. In addition, the company plans to expand its product portfolio for industry standard LED lighting products.
"In the LED industry, SynJet technology is allowing LED manufacturers to offer brightness levels not thought possible for two more years," said Jim Balthazar, president and CEO, Nuventix. "With this funding, Nuventix will bring similar cooling design innovation to other markets."
New investors include ATV, 29-year-old bi-coastal venture capital firm with $1.6 billion in capital under management, and Braemar Energy Ventures, venture capital specialist in the energy sector. While ATV brings expertise from communications, infrastructure and software and services, both venture firms focus on funding clean energy. SynJet technology is an energy efficient cooling solution set to reduce energy consumption not just in lighting designs, but also for data centers, an ever increasing drain on energy supplies. Estimates from 2007 put the energy consumption of the Internet in the U.S. at 9.4% of total electricity use, and lighting at just over 20%.
"Demand for more reliable and efficient thermal solutions is high, especially since solid state lighting designs will make such a huge impact in energy consumption," said Wes Raffel, General Partner of ATV. "Nuventix is poised to revolutionize how product manufacturers think about thermal management and we are excited to be part of that."
Nuventix is revolutionizing thermal management of consumer electronics, LED lighting, medical, telecommunications, automotive and other electronics with patented, highly adaptable, quiet and reliable cooling devices that efficiently – and directly – dissipate heat from any surface. The patented SynJet technology enables the most reliable and flexible air cooling solutions available today. The Austin, TX-based company is venture-backed and led by an experienced team of senior executives with a breadth of experience building and leading thermal and startup companies to success. More information can be found at http://www.nuventix.com.