i2Cool, a company specializing in electricity-free cooling technology, has attracted nearly HKD100 million (USD13.8 million) in its Series A round financing from Trustar Capital (the private equity investment business under CITIC Capital Holdings Limited), Future Times Technology Holding Company Limited, The Hong Kong and China Gas Company Limited (Towngas), along with investors from earlier funding rounds. The committed capital in this round will be used to advance i2Cool’s R&D of new technologies, expand its product portfolio, and accelerate its push into global markets.
This marks the fourth round of funding secured by i2Cool within the past two years. Supported by the HK Tech 300 Program at City University of Hong Kong and the Incubation Program at Hong Kong Science and Technology Parks Corporation, i2Cool has attracted investments from China Prosperity Capital, Hong Kong X Technology Fund, New Vision, Clear Water Bay Venture Capital, Silicon Harbor Capital, etc.
Dr. Martin Zhu, i2Cool’s Co-founder & CEO, stressed the importance of achieving this financial goal. He pointed out the strong need for electricity-free cooling technology in sectors like green buildings and industry to decrease heat, cut air conditioning expenses, increase efficiency, and enhance comfort. i2Cool meets this demand with its zero-energy, low-carbon cooling solutions.
As an innovator in green and energy-efficient materials, i2Cool is committed to advancing the R&D and practical application of electricity-free cooling with its flagship products, electricity-free cooling paint (iPaint) and electricity-free cooling film (iFilm).