Together with other investors, temperature control specialist LAUDA has invested in the start-up MAGNOTHERM. With this round of financing, concluding at over 5 million EUR, the multiple award-winning start-up plans to start serial production of its first sustainable refrigerator. LAUDA has been following the development of the promising start-up from Darmstadt since 2019, through its innovative subsidiary new.degree GmbH. The two companies now want to utilize this longstanding relationship and the latest investment of 300,000 EUR to identify strategic reference points for subject areas and projects of shared interest.
MAGNOTHERM was founded out of the Technical University of Darmstadt by the current managing directors, Dr. Maximilian Fries and Timur Sirman, and develops sustainable cooling solutions without the use of conventional industrial refrigerants – which are often harmful to the climate. The start-up uses a temperature-active, magnetic metal to cool a water mixture. In principle, this revolutionary technology can be used for any type of cooling – an advantage that has piqued the interest of the world market leader for precise temperature control: “Equipment from LAUDA is used to control temperature in the applications and processes of major future industries around the world,” explains Dr. Mario Englert, who as Chief Financial Officer is responsible for investments. President and CEO, Dr. Gunther Wobser added: “As the world market leader, we want to make the world a better place with precise temperatures – that is our vision and what we put into practice every day. In the future, energy-efficient systems will be needed that conserve resources and minimize harmful emissions. MAGNOTHERM has taken an important step in the right direction, which complements our technological expertise as a world market leader. With our investment, we are laying the foundation stone for a successful collaboration between the start-up and industry, and can benefit from one another.”