Portfolio company Cooll Sustainable Energy Solutions has raised €4.5 million in a new funding round for the market launch of its innovative heat pump technology. Energiefonds Overijssel, managed by StartGreen Capital, is involved in this round as an existing investor.
Scalable solution with significant gas and CO2 savings
Cooll’s thermally driven heat pump replaces the condensation boiler in existing or new homes. It is powered by natural gas or hydrogen, is compatible with both high- and low-temperature heating, and reduces gas consumption and CO2 emissions by 25-40%. And it does so without increasing electricity consumption. This technology makes it possible to efficiently make existing central heating boilers more sustainable without major modifications to the home. In doing so, Cooll offers a scalable solution to help households transition to more sustainable heating.
Investing together in the energy transition
The investment emphasizes the role of Energiefonds Overijssel as a catalyst for innovative energy solutions. By co-investing in multiple phases, the fund helps companies like Cooll take the step from pilot to market launch – crucial for accelerating the energy transition in Overijssel and the Netherlands.
Cooll’s technology combines innovation with applicability in the existing built environment. This is exactly the type of sustainable innovation we want to stimulate with our funds.
The €4.5 million financing consists of investments from existing shareholders and new investors, alongside subsidies from ERDF and NGIF.
100 heat pumps thanks to this investment
The investment enables Cooll (together with key partners) to develop, produce, and install a series of 100 wall-mounted thermally driven heat pumps in the Netherlands.
About Energiefonds Overijssel
Energiefonds Overijssel is working towards a climate-resilient, CO2-neutral, and circular Overijssel by 2050. Since its launch in 2012, the fund has already invested nearly 400 million euros in energy savings, the production of renewable energy, circularity, and technological innovation in these areas. In doing so, it makes a significant contribution to energy conservation and sustainability, CO2 reduction, entrepreneurship, and innovation in the province.
More information
- More information about this investment in the press release on the Energiefonds Overijssel website.
- More information about Cooll (including explainer videos about this technology)
- Want to know more about Energiefonds Overijssel? Then view the fund page.
