Camfridge’s NetZero cooling has arrived!

 

 

 

Companies and governments are struggling to meet their NetZero targets, with the current situation summarised by Antonio Guterres at COP27 as “the Highway to Climate Hell”. Demand for cooling is growing, set to treble by 2050, and current cooling technologies are polluting and inefficient. These deficiencies will contribute between 0.4°C and 1.2°C of temperature rise between now and 2100 unless ~250 gigatons of CO2 emissions are avoided.

 

Camfridge is pleased to announce that its talented 8-person team has successfully completed its first NetZero cooler, cooling a standard mass-produced appliance from room temperature to 4°C, with enhanced energy efficiency. Camfridge NetZero magnetic cooling system decarbonises refrigeration by eliminating environmentally harmful refrigerant gases, by being more energy efficient, and is designed to be largely circularly recyclable. This is a $400 billion market opportunity.

Camfridge technology is now being targeted at companies who rely on refrigeration, to help them achieve their stated NetZero goals. The entry market will be commercial appliances (those found in retailers), starting with the beverage cooler segment. The value proposition is simple – not only will our technology help with NetZero goals, but it will also reduce energy use and save money. Camfridge estimates a pay-back period of between 1 and 2 years for end-users.

Camfridge is now aiming to bring this product to market, and is raising £2.3 million to deliver a ready-to-manufacture version of its system for use in a commercial beverage cooler, which will have been tested in Sainsbury’s (a major UK retailer). We are now also working with 3 OEMs looking to incorporate Camfridge’s solution into their appliances. Camfridge estimates that £6.9 million is needed, to start producing units at scale within 2-3 years.

 

Neil Wilson, CEO Camfridge, enjoying a magnetically chilled water.

 

For any further information, please contact Neil Wilson, CEO of Camfridge, at nwilson@camfridge.com or +44 790 350 2329.

 

 

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