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Phononic Raises $50 Million Growth Financing From Goldman Sachs Asset Management To Scale Global Adoption Of Sustainable Solid-State Cooling Solutions

Jul 21, 2021•almost 4 years ago

Amount Raised

$50 Million

Durham

Description

To support the global demand for Sustainable innovations that address climate change, Phononic, a global leader in solid-state cooling and heating technology, today announced that it has secured a significant growth investment led by $50 million from the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs). This investment allows Phononic to dramatically expand sales and marketing, domestic and international high-volume manufacturing capabilities, and expand its cooling and refrigeration product portfolio and platform.

Company Information

Company

Phononic

Location

Durham, North Carolina, United States

About

Phononic, Inc. is an innovator of semiconductor cooling solutions that sustainably transform refrigeration and cooling. The Company's thermoelectric chips and fully integrated products are used in Optolelectronics (Fiber Optic Communications/5G/LIDAR); Cold Chain Fulfillment (ecommerce ecosystem); and Technology Licensing (licensed to leaders in the life sciences & healthcare, food & beverage and climate control sectors). Phononic’s innovations are revolutionizing the way people work and communicate, how grocers merchandize and deliver food, how life-saving vaccines and drugs are protected, and how houses and buildings are cooled – setting a new global standard of efficiency and sustainability. For additional Company and product information visit: www.phononic.com.

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