Cooll raises €4.5 million for market launch of innovative heat pump – Energiefonds Overijssel invests again

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 again in this round as an existing investor.

Scalable solution with significant gas and CO2 savings 
Cooll's thermally driven heat pump replaces the condensing 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 that without increasing electricity consumption. This technology makes it possible to make existing central heating boilers more sustainable efficiently, without major modifications to the home. With this, Cooll offers a scalable solution to help homes transition to more sustainable heating.

Investing together in the energy transition
The investment highlights the role of Energiefonds Overijssel as a catalyst for innovative energy solutions. By investing in multiple phases, the fund helps companies like Cooll make the leap from pilot to market introduction – 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 precisely the type of sustainable innovation we want to encourage with our funds.

The financing of €4.5 million comprises investments from existing shareholders and new investors, in addition to subsidies from ERDF and NGIF.

100 heat pumps thanks to this investment
The investment will enable Cooll to develop, produce and install a series of 100 wall-mounted thermally driven heat pumps in the Netherlands (together with key partners).

About Energiefonds Overijssel
Energiefonds Overijssel is working towards a climate-resilient, CO2-neutral, and circular Overijssel by 2050. Since its inception in 2012, the fund has invested nearly €400 million in energy saving, renewable energy production, circularity, and technological innovation in these areas. In doing so, it makes a significant contribution to energy saving 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 Overcool (e.g. explanatory videos on this technology)
• Want to know more about Energiefonds Overijssel? Then take a look the fund page.