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Sustainable Data Center Technology Funding: Trane Technologies Invests In LiquidStack

March 24, 2023 by Joe Panettieri

Trane Technologies has invested in LiquidStack, a developer of liquid immersion cooling for data centers. Financial terms of the Series B investment and LiquidStack's business valuation were not disclosed.

Joe Capes, CEO, LiquidStack

Trane Technologies is based in Davidson, North Carolina.The company had 8,770 employees listed on LinkedIn as of March 2023. Trane develops sustainable heating, ventilation and air conditioning (HVAC) technologies. Trane Technologies' sustainability reports are listed here.

LiquidStack (previously known as Allied Control Limited or ACL), was founded in 2012. The company's U.S. operations are based in Marlborough, Massachusetts. LiquidStack had 39 employees listed on LinkedIn as of March 2023. The company provides thermal management solutions to cloud services, semiconductor, manufacturing and IT hardware providers.

Early LiquidStack partners include Wiwynn and Bitfury. We did not see a partner program listed on the company's website as of March 2023.

LiquidStack previously raised $10 million in Series A funding -- though specific investor details were not disclosed in that 2021 announcement.

Trane Technologies Invests in LiquidStack: Executive Perspectives

In a prepared statement about the Series B funding, LiquidStack CEO Joe Capes said: “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. 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.”

Amber Mulligan, VP, Trane Technologies

Added Amber Mulligan, vice president, strategic sales and marketing, Commercial HVAC Americas, Trane Technologies: “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. 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.”

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