News

ColdWatt Raises $16 Million in Series B Funding

January 11, 2006 by Jeff Shepard

ColdWatt Inc. today announced it has closed $16 million in new financing. The company is focused on delivering innovative power conversion solutions for computing, networking and telecommunications OEMs. The Series B funding was led by RRE Ventures with participation from existing investors Austin Ventures, Matrix Partners and Global Technology Investments. ColdWatt will use the funding to support the strong customer demand for its solutions and to continue research and development of its patented, disruptive power conversion technologies.

"The ColdWatt team is building the next great company in the power conversion market and RRE is proud to be involved. It is rare that we see the combination of a team this strong, a technology portfolio this powerful, and a market opportunity this promising," said William D. Porteous, general partner at RRE Ventures.

The need for compact power conversion solutions is rapidly increasing as computer, enterprise server and storage, and telecommunications OEMs service the global demand for processing and storage capacity. At the same time, the Environmental Protection Agency (EPA) has launched programs to create industry and consumer awareness of the adverse environmental effects of low power supply efficiency. OEMs have been quick to recognize that energy efficiency and power density are critical in the design of new products. Power conversion solutions from ColdWatt deliver best in class power density and energy efficiency.

"ColdWatt is at the forefront of the industry with products that satisfy the need for energy efficient and compact power conversion solutions," said Dan Artusi, Chairman and CEO of ColdWatt. "This most recent round of financing from a premier group of investors allows ColdWatt to deliver a continuous stream of innovation to the power supply market and meet strong customer demand."