Startup-Profile of the month October:
|Name of your company:||MagnoTherm Solutions|
|Year of founding:||2019|
|Current CEO:||Max Fries/ Timur Sirman|
|Did you receive any funding yet? If yes, from whom? (e.g. Business-Angels, Federal Grant (EXIST-Gründerstipendium, EXIST-Forschungstransfer), Venture Capital, Family office, etc.)||EXIST-Forschungstransfer, EIT Raw Materials, ESA BIC, SpinLab|
|How big was the investment?||1.3 m|
|How big is your team? How many employees are working in your company?||10|
|Businessmodel (e.g. freemium, subscription, service-based, etc.)||product|
Lets go deeper
What are you doing?
We develop and build highly efficient and sustainable refrigeration systems based on magnetic materials.
Why are you a science-tech Startup/Company?
Our startup is based on several years of research in the domain of magnetocaloric materials. Four of our five co-founders come from research and/or are still active in this area.
What problem have you identified with your research?
Almost 20% of the world’s electricity is used for refrigeration. Current systems are either explosive, toxic or harmful to the environment. For more than 100 years, the underlying technology has not changed. In order to combine safety and sustainability, we need new technologies.
What solution do you offer?
Based on a solid-state refrigerant, we build a magnetocaloric refrigeration system. Due to a fully reversible refrigeration cycle, much higher efficiencies are possible without using any problematic gas-vapour refrigerants.
If possible, please describe your technology you use to solve your specific problem!
We use a material processing technology in order to improve current magnetocaloric materials. This makes them durable, high in performance and low in costs.
What is your product that you sell?
We sell cooling machines for refrigeration systems around room temperature with power capacities between 1 kW and 10 kW.
Which market do you want to address with your product?
Starting off with specialized cooling systems for medical applications, a system for residential refrigeration will be developed. Customers will be in both cases manufacturers integrating our system into their products. Moreover, we will develop commercial refrigerators for the food & beverage sector.
What are the next steps of your startup?
After finalization of our prototype, we will start pilot projects. Based on the pilot projects, we will optimize the prototype and develop our first serial product.
What do you and your startup need?
At the moment, we are in need of a seed financing round and well-trained as well as smart engineers to accelerate our product development.