LiquidStack Secures Series B Funding from Trane Technologies to Scale Liquid Immersion Cooling as a Data Center Sustainability Standard

Investment will accelerate the company’s manufacturing, R&D and commercialization as LiquidStack rapidly expands its product portfolio and delivery capabilities

BOSTON, Massachusetts, March 22, 2023 LiquidStack, the global leader in liquid immersion cooling for data centers, has received an investment from Trane Technologies, a global climate innovator. Trane Technologies, through its strategic brand Trane®, is a global leader in sustainable heating, ventilation and air conditioning (HVAC) and one of the data center industry’s most prominent suppliers of mission-critical infrastructure. The investment will help further support the adoption of LiquidStack’s solutions and significantly reduce data center carbon footprint, water consumption, e-waste and environmental impact, while creating additional value for both Trane and LiquidStack customers.

LiquidStack will primarily use the new funding to ramp up manufacturing, including the opening of a state-of-the-art facility in the United States. In addition to increasing manufacturing scale, the new facility will include research and development labs, factory acceptance testing and a service training center to support the demand and adoption of LiquidStack’s immersion cooling technology in hyperscale, cloud, colocation and edge computing applications. The company will dedicate funds to further invest in R&D, especially in the field of advanced dielectric fluids that reduce both global warming and ozone depletion while replacing environmentally harmful refrigerants. The company is also expanding sales, marketing and service delivery capabilities.

2-phase immersion cooling drastically reduces data center direct and indirect carbon footprint to the tune of over 1,500 tons per MW versus air cooling. This results in a 40% reduction in mechanical equipment energy use vs. air cooling, 33% lower CAPEX, 32% lower TCO and up to 69% compaction of data center white space which translates to 32% less land use. A broader adoption of LiquidStack’s technology can also reduce water usage for powering and cooling data centers by over 300 billion liters per year. Whereas heat rejected from data centers is typically released into the atmosphere, the heat captured by LiquidStack’s technology can be repurposed for hot water supply, district heating or even high-tech agriculture applications.

“I am delighted that Trane Technologies has chosen to partner with LiquidStack at a time when demand for sustainable liquid cooling technology has never been greater,” said Joe Capes, CEO of LiquidStack. “Trane is a leader in the field of high efficiency heat rejection and repurposing solutions and is renowned for supporting technologies and companies that have a measurable positive impact on the environment. I am confident that this investment will accelerate LiquidStack’s business growth as we scale operations, diversify our solutions portfolio, focus on product cost reduction, continue investing in R&D and provide industry leadership for sustainable liquid cooling solutions.”

The agreement also brings together LiquidStack’s technology with Trane’s system design, application engineering, go-to-market team and existing portfolio to deliver differentiated value for global data center customers. Trane and LiquidStack customers will now have access to broader end-to-end solutions, including immersion cooling coupled with Trane’s industry-leading chillers, fluid coolers and heat recovery systems supported by world-class services.

“Trane Technologies is committed to bending the curve on climate change through innovative solutions that enable customers to drastically reduce their carbon footprint and meet their business and operating goals while doing the right thing for the planet,” said Amber Mulligan, vice president, Strategic Sales and Marketing, Commercial HVAC Americas, Trane Technologies. “We are excited to unlock new value for customers with expanded access to LiquidStack’s unique immersion cooling technology, which is raising the bar for sustainable data center cooling. Immersion cooling solutions will also help achieve our bold Sustainability Commitments, which includes reducing one billion metric tons of carbon emissions from our customers’ footprint by 2030 and achieving net-zero emissions by 2050.”

About LiquidStack

LiquidStack has the world’s largest install base of liquid cooling for data centers globally. LiquidStack’s immersion liquid cooling is the only proven, highly scalable, environmentally safe and sustainable solution to meet the growing thermal challenges of cloud, enterprise, edge, high performance computing and crypto-mining applications. Since pioneering 2-phase immersion cooling in 2012, LiquidStack has deployed advanced cooling solutions across the world’s most demanding compute environments, actively reducing energy and water use on a massive scale. Today, LiquidStack provides thermal management solutions to many of the world’s largest cloud services, semiconductor, manufacturing and IT hardware providers.

About Trane Technologies

Trane Technologies is a global climate innovator. Through their strategic brands Trane® and Thermo King®, and a diverse portfolio of environmentally responsible companies, products and services, Trane brings efficient and sustainable climate solutions to buildings, homes and transportation.

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