CoolIT Systems Closes $6.2 Million Financing

**MIG-31** · Mar 24, 2009, 06:06 PM

CoolIT Systems, the industry leader in advanced electronics cooling solutions, has completed a CDN $6.2M financing package. The investment was led by iNovia Capital, a leading venture capital fund manager, and included existing angel investors and AVAC Ltd.

CoolIT recently launched its breakthrough Domino Advanced Liquid Cooling (ALC) solution for desktop computers to industry acclaim at the Consumer Electronics Show (Las Vegas) and CeBIT (Hanover). This financing was timed to support that launch and accelerate the completion of a number of development projects for OEMs based on patented CoolIT technology.

"Electronics performance is now governed by thermal design more than any other factor. Customers are demanding quiet, reliable and efficient equipment that can only be delivered with advanced cooling solutions of the caliber provided by CoolIT", said Shawn Abbott, partner with iNovia Capital. “In addition to technology excellence, CoolIT has a world-class management team with the proven ability to lead high-volume, quality technology design and manufacturing organizations.”

Geoff Lyon, CEO of CoolIT, said, "We selected iNovia because our business needs a strong, long-term capital partner that understands the market as well as the operational challenges due to rapid order growth from both channel and OEM partners. With the PC industry rapidly shifting towards liquid cooling, this financing allows CoolIT to expand the sales channels internationally and additionally facilitates strategic corporate initiatives including a key acquisition we are negotiating."

"The CoolIT team exemplifies the entrepreneurial leadership we look for in companies," said Ross Bricker, CEO of AVAC Ltd. "They are thinking and operating globally, while leveraging the experienced talent and access to international markets unique to Alberta. We are delighted to have iNovia join us in our support of CoolIT."
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Source: Emailed Press Release.

Chaos · Mar 25, 2009, 02:54 AM

Sweet

Mac Daddy · Mar 25, 2009, 11:35 AM

I got this too should be a good move for CoolIT I think

Mar 24, 2009, 06:06 PM	#1
MIG-31 HardwareHeaven News Mod Join Date: Dec 2002 Location: Nottingham,UK Posts: 56,854 Rep Power: 471 System Specs	CoolIT Systems Closes $6.2 Million Financing CoolIT Systems, the industry leader in advanced electronics cooling solutions, has completed a CDN $6.2M financing package. The investment was led by iNovia Capital, a leading venture capital fund manager, and included existing angel investors and AVAC Ltd. CoolIT recently launched its breakthrough Domino Advanced Liquid Cooling (ALC) solution for desktop computers to industry acclaim at the Consumer Electronics Show (Las Vegas) and CeBIT (Hanover). This financing was timed to support that launch and accelerate the completion of a number of development projects for OEMs based on patented CoolIT technology. "Electronics performance is now governed by thermal design more than any other factor. Customers are demanding quiet, reliable and efficient equipment that can only be delivered with advanced cooling solutions of the caliber provided by CoolIT", said Shawn Abbott, partner with iNovia Capital. “In addition to technology excellence, CoolIT has a world-class management team with the proven ability to lead high-volume, quality technology design and manufacturing organizations.” Geoff Lyon, CEO of CoolIT, said, "We selected iNovia because our business needs a strong, long-term capital partner that understands the market as well as the operational challenges due to rapid order growth from both channel and OEM partners. With the PC industry rapidly shifting towards liquid cooling, this financing allows CoolIT to expand the sales channels internationally and additionally facilitates strategic corporate initiatives including a key acquisition we are negotiating." "The CoolIT team exemplifies the entrepreneurial leadership we look for in companies," said Ross Bricker, CEO of AVAC Ltd. "They are thinking and operating globally, while leveraging the experienced talent and access to international markets unique to Alberta. We are delighted to have iNovia join us in our support of CoolIT." ___________ Source: Emailed Press Release. __________________ Please Post Your News Submissions Here

Mar 25, 2009, 02:54 AM	#2
Chaos Number Nine Join Date: May 2002 Location: Nova Scotia Posts: 5,268 Rep Power: 167 System Specs	Re: CoolIT Systems Closes $6.2 Million Financing Sweet

Mar 25, 2009, 11:35 AM	#3
Mac Daddy DriverHeaven Extreme Member Join Date: Jul 2002 Location: Ontario, Canada Posts: 7,950 Rep Power: 80 System Specs	Re: CoolIT Systems Closes $6.2 Million Financing I got this too should be a good move for CoolIT I think __________________ "My mom said the only reason men are alive is for lawn care and vehicle maintenance." - Tim Allen