DURHAM, NC – Nextreme Thermal, a company selling technology that cools semiconductors, has closed on $21.35 million from investors that include two Fortune 100 companies.
Founded in 2004 as an RTI International Spinout, the company has raised a total of $35 million in three rounds.
The company revealed the funding in a regulatory filing with the U.S. Securities and Exchange Commission. TechJournal South reported that the company has raised more than $16 million toward the round on June 19.
Nextreme raised a $13 million B round led by New York-based Chart Venture Partners with Virginia’s Redshift Venture Partners, New York’s Harris & Harris Group, Virginia’s In-Q-Tel, and Japan’s Itochu Corp. in August 2008.
The Raleigh News & Observer reports that the current round includes investments from two unnamed Fortune 100 companies that are interested in Nextreme’s technology.
“This funding from corporate investors represents a very significant validation of our company and technology, especially during these challenging times,” said Jesko von Windheim, CEO of Nextreme in a statement Wednesday.
“With our Series B financing now fully in place, the company is well positioned to execute its product development and sales plan over the next two years.”
Nextreme offers microscale cooling and thermal energy harvesting solutions that integrate directly into electronic and consumer product packaging. Nextreme’s scalable cooling and power generation solutions have the potential to have a major impact on mainstream industries such as automotive, computing, consumer, mobile, and telecommunications.
The military and telecom would use Nextreme technology to cool laser diodes, night vision googles, sensors and other equipment.
In a 2008 interview, Jesko von Windheim, CEO, told TechJournal South the ultimate aim is to sell the devices for cooling the microprocessors used in laptops, PCs, and mobile devices.
“We’ve already demonstrated that we can cool hot spots in microprocessors,” he says, “and there is a significant performance advantage when you do that,” he said.
The company expects to expand its production this year.
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