Nuventix Secures $14 Million C Series Funding
July 16, 2008
For Immediate Release
Energy Efficient Cooling Technology Attracts New Investors
AUSTIN, Texas (July 16, 2008) —Nuventix, Inc., innovators of SynJet™ technology cooling solutions, announced today the completion of a $14 million round of funding led by Advanced Technology Ventures (ATV). New investor Braemar Energy Ventures and existing investors CenterPoint Ventures, InterWest Partners and RHO Ventures also participated in the round of financing. The new funding will support rapid market adoption the company has seen over the past year as SynJet technology becomes the preferred solution for LED lighting, consumer electronics and computer chip cooling.
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.”
About Nuventix
Nuventix is the company that cools, providing the only process using synthetic jets to answer the growing problem of thermal management in electronics. From chips in LED lighting to embedded computing and beyond, the Nuventix SynJet offers a reliable, quiet and energy efficient cooling solution in a variety of sizes and form factors. Nuventix, with its innovative and award-winning SynJet technology product line, has been solving thermal management problems for customers around the world since 2003. Visit www.nuventix.com.
For more information
- Helen Rodriguez
- INK Public Relations for Nuventix
- (512) 382-8988
- helen@ink-pr.com
- Ryan Ahearn
- Nuventix
- (512) 382-8123
- @nuventix.com
About Braemar Energy Ventures
Founded in 2003, Braemar Energy Ventures is a leading venture capital firm focused on investing in transformative energy-tech and related companies contributing to global sustainability and combating climate change. Using sector expertise and experience, Braemar aims to be an engaged partner with its portfolio companies to best help them navigate the path to creating significant global impact. For more information, visit braemarenergy.com.