Latest News
i2Cool Attracts Close to HKD100 Million in Series A Financing to Propel the Development of Green and Energy-Efficient Radiative Cooling Solutions
SHENZHEN, China, May 9, 2024 /PRNewswire/ — i2Cool, a company specializing in electricity-free cooling technology, has attracted nearly HKD100 million (USD13.8 million) in its Series A round financing from Trustar Capital (the private equity investment business under CITIC Capital Holdings Limited), Future Times Technology Holding Company Limited, The Hong Kong and China Gas Company Limited, along with investors from earlier funding rounds. The committed capital in this round will be used to advance i2Cool’s R&D of new technologies, expand its product portfolio, and accelerate its push into global markets.
Dr. Martin Zhu, i2Cool’s Co-founder & CEO, stressed the importance of achieving this financial goal. He pointed out the strong need for electricity-free cooling technology in sectors like green buildings and industry to decrease heat, cut air conditioning expenses, increase efficiency, and enhance comfort. i2Cool meets this demand with its zero-energy, low-carbon cooling solutions.
As an innovator in green and energy-efficient materials, i2Cool is committed to advancing the R&D and practical application of electricity-free cooling with its flagship products, electricity-free cooling paint (iPaint) and electricity-free cooling film (iFilm), which have been implemented in over 100 projects globally across more than 20 countries and regions worldwide. The cooling solutions have found applications in industries including architecture, the chemical industry, power & telecom, new energy, logistics, grain storage, and photovoltaics.
The i2Cool R&D team, led by i2Cool’s Co-founder Professor Edwin TSO and stemming from the School of Energy and Environment at City University of Hong Kong, has dedicated seven years of scientific research to develop commercial applications supporting wide-scale deployment. For instance, iPaint leverages polymer blends and inorganic particles to achieve optimal optical and thermal properties, boasting an impressive 95% solar reflectivity and mid-infrared emissivity. For example, applying iPaint at a shopping mall owned by Hang Lung Properties reduced rooftop temperatures by up to 30.3°C, cutting air conditioning energy use by 42%.
Looking ahead, i2Cool is set to broaden its international presence, focusing on markets along the Belt and Road Initiative economic corridors including the Middle East and Southeast Asia. Following the successful application of its products at the Dubai Mall, i2Cool has also entered into strategic partnerships with local businesses in the United Arab Emirates.
For more information about i2Cool, please visit their official website at www.i2Cool.com.
Contact Information:
Branding Team, i2Cool
Email: [email protected]
Latest News
SUNRATE joins Mastercard’s Priceless Planet Coalition
SINGAPORE, May 20, 2024 /PRNewswire/ — SUNRATE, an intelligent global payment and treasury management platform today announced it has joined Mastercard Priceless Planet Coalition in support of fighting climate change through funding the restoration of 100 million trees. This announcement is part of the global fintech’s efforts to contribute to a sustainable economy and improvement of the planet.
“The Priceless Planet Coalition works by uniting companies, communities and consumers in collective, coordinated climate action. By pooling resources, it’s possible to rapidly scale forest restoration work and environmental initiatives, while providing forward-thinking companies like SUNRATE with pre-existing infrastructure that easily – and cost effectively – allows them to have a tangible impact. It is this connectivity that makes the Priceless Planet Coalition different and more effective,” said Sandeep Malhotra, executive vice president, Products & Innovation, Asia Pacific, Mastercard.
Mastercard founded the Priceless Planet Coalition in January 2020 which is guided by climate science and forest restoration experts Conservation International (CI) and World Resources Institute (WRI). The Coalition employs rigorous science-based best practices for the selection, implementation and monitoring of forest restoration efforts.
“Tackling climate change is critical to our sustainability framework and studies have shown that reforestation is key to combating global warming, which in turn influences climate change positively. Therefore, we are proud to join this initiative and work together with Mastercard and other stakeholders to protect our planet and make our lives greener,” said Darren Thang, Head of Marketing of SUNRATE.
About SUNRATE
SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and J.P. Morgan. To learn more about SUNRATE, visit https://www.sunrate.com/
View original content:https://www.prnewswire.co.uk/news-releases/sunrate-joins-mastercards-priceless-planet-coalition-302148961.html
Latest News
eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
Latest News
Revio, the young fintech winning over Old Mutual and MTN
-
Latest News7 days ago
Newgen Recognized in the Gartner® Market Guide for Commercial Banking Cash Management and Trade Finance Solutions 2023 Report
-
Latest News7 days ago
Precisely Showcases Critical Role of Trusted Data in AI at the Gartner® Data & Analytics Summit in London
-
Latest News4 days ago
B Lab UK research reveals UK public back change to company law to put people, the planet and profit on more equal footing
-
Latest News7 days ago
One United Properties posts a consolidated turnover of 84.3 million euros and a gross profit of 37 million euros in the first three months of 2024
-
Latest News4 days ago
Unleash a Wave of Opportunities this May with Bybit
-
Latest News4 days ago
Bankart migrates payment processing to Diebold Nixdorf’s Vynamic Transaction Middleware
-
Latest News4 days ago
What Does Nuvei’s Go-Private Deal Portend for FinTechs?
-
Latest News4 days ago
SANY Heavy Industry Reports 2023 Earnings: Overseas Revenue Soars to 60% of Core Business Amid Market Pressures, Signaling Strong Global Expansion