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Accelsius and iM Data Centers have announced a strategic partnership to deliver sustainable data center cooling solutions. The collaboration will initially focus on iM's Miami data center, scheduled to open in Q1 2025. The 100,000-square-foot facility will offer 10-40 megawatts of power and feature Accelsius' NeuCool Thermal Simulation Rack with integrated Load Simulation Sleds. The Miami facility, powered by two utility substations, will demonstrate energy-efficient direct-to-chip liquid cooling capabilities for next-generation AI CPU and GPU workloads.
Innventure (NASDAQ: INV) announced its financial results for Q3 2024, highlighting key achievements including Accelsius delivering its first revenue-generating system. The company recently completed its business combination and began trading on the Nasdaq in early October. CEO Bill Haskell emphasized that both AeroFlexx and Accelsius are now delivering commercial products to the market, exceeding expectations. The company aims to scale these operations and launch new companies while focusing on bringing breakthrough technologies to market.
Accelsius has secured $24 million in Series A funding to advance its NeuCool two-phase, direct-to-chip liquid cooling system for data centers. The technology enables over 10x current rack power densities while reducing cooling energy by 40-50% compared to conventional methods, with zero water consumption. The funding will support international expansion, product development, and team growth across multiple departments. NeuCool can handle thermal loads exceeding 2,200 watts per server chip, making it suitable for AI and high-performance computing workloads. The funding was provided by Innventure (NASDAQ:INV), which founded Accelsius in June 2022.
AeroFlexx, founded by Innventure (NASDAQ: INV) in 2018, has announced the first delivery of AeroFlexx Paks from its commercial production facility. The AeroFlexx Pak is a lightweight flexible package designed to function like a rigid bottle, featuring integrated valve technology and self-sealing capabilities. The company is expanding globally through partnerships with Chemipack and Dynapack Asia, alongside its West Chester, OH headquarters, to serve industries including personal care, household products, pet care, food, and industrial sectors.
Innventure (Nasdaq: INV) announced it will release its third quarter 2024 financial results before market open on Thursday, November 14, 2024. The company will host a conference call at 8:30 am ET on the same day to discuss the results. The event will be available via webcast through the company's investor relations website and through teleconference, with advance registration required for dial-in access.
Innventure (Nasdaq: INV) has secured two significant financing arrangements to strengthen its capital position. The company entered into a $50 million secured line of credit with Western Technology Investment, to be drawn in multiple installments through March 31, 2025, subject to certain conditions and commercial milestones. Additionally, Innventure completed a private placement of Series B Preferred Stock, raising approximately $11 million. These funds complement the $11.3 million in non-redeemed trust assets from their recent Business Combination.
Innventure (Nasdaq: INV), a technology commercialization platform, has announced its Gold Level sponsorship of the Licensing Executives Society (LES) 2024 Annual Meeting. The event, scheduled for October 20-23 in New Orleans, is expected to attract over 500 attendees from various IP-related fields. It will feature more than 30 panel sessions, 15 roundtable discussions, and keynote speakers including Alaina van Horn from U.S. Customs and Border Protection and Congressman Troy Carter.
Innventure will lead a workshop titled 'Maximizing IP Value through Strategic Spin-Outs and Alternative Commercialization Approaches' on October 22. The company's CEO, Bill Haskell, emphasized the alignment between Innventure's model of commercializing breakthrough technologies and the LES community's focus on advancing intellectual property business.
Innventure and Learn CW Investment have completed their previously announced business combination, approved by Learn CW's shareholders on September 30, 2024. The combined company will be named Innventure, and its stock will begin trading on the Nasdaq Global Market under the ticker symbol INV starting October 3, 2024. Innventure will ring the Closing Bell at Nasdaq Marketsite at 4 p.m. EST on the same day. CEO Bill Haskell expressed excitement about becoming a public company, emphasizing the opportunity to offer investors access to transformative technology solutions. Rob Hutter, CEO of Learn CW, highlighted the potential for Innventure to become the innovation launch partner of choice for major companies.
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