INVESTMENT IN I2COOL
Transcend Capital Partners is thrilled to announce our latest investment in i2Cool, a Hong Kong startup that has developed a zero-energy, refrigerant-free passive radiative cooling coating capable of reducing building indoor temperatures by 6-8°C.
With global warming on the rise, the need for innovative solutions to reduce emissions and save energy is more crucial than ever. Founded in 2022 with research starting in 2016, i2Cool emerged from the School of Energy and Environment at City University of Hong Kong (CityUHK) through the HK Tech 300 programme. The electricity-free cooling coating, a brainchild of Professor Edwin Chi-Yan Tso and his research team from CityUHK, mimics the Saharan silver ant's unique ability to reflect sunlight and dissipate heat. This zero-energy, refrigerant-free passive radiative cooling technology leverages optics, thermodynamics, and materials science; it can be applied like paint on various surfaces, reflecting solar energy and emitting mid-infrared thermal radiation into outer space, thus cooling interiors efficiently. Their breakthrough has achieved an industry-leading 95% solar reflectivity and mid-infrared emissivity, lowering building surface temperatures by 30-42°C and indoor temperatures by 6-8°C, significantly cutting air conditioning use and electricity consumption.
i2Cool's product line now includes iPaint and iFilm, a radiative cooling film for glass curtain walls and a wide range of glass windows. Their technology has been implemented in over 200 projects worldwide, across various industries and regions. The company also collaborates with volunteer organizations to improve living conditions for disadvantaged communities. Committed to continuous innovation, i2Cool recently developed cooling tiles that maintain performance in adverse weather, with their research published in the Science journal.
The current investment is an extension of the company’s successful Series A last year, with participation from notable investors such as Transcend Capital Partners and BetaBox Ventures. With the newly raised funds, i2Cool is set to expand into ceramics, textiles, automotive paints, and more. They aim to develop new-generation products like thermochromic smart windows and biodegradable thermal management textiles, driving global carbon reduction and sustainable development.
Transcend Capital Partners is excited to support i2Cool’s mission to make advanced cooling technologies more accessible and practical for businesses worldwide, paving the way for a sustainable future.