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Nano
Biz...in depth...
im detail
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Ground-Breaking
Environment-Friendly Cooling Technology Establishes
UK HQ for Global Rollout
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LONDON,
/PRNewswire-FirstCall/ -- An historic agreement was
signed in London paving the way for a former NASA scientist
and his team to bring their revolutionary new nano-scale,
super-cooling technology to the world -- from a UK base.
The patented, environment-friendly system is expected
to have a major global impact on a range of everyday
applications -- ranging from air conditioning to increasing
computer speeds.
After award-winning work on two space shuttle missions
with NASA, former Samsung scientist Dr. Jeong Hyun Lee
created and patented the breakthrough cooling technology
-- initially to address the development-hindering problem
of semiconductor cooling. The radical cooling technology
is unique in that it does not require fans, pumps, dangerous
gases or electricity to be effective. The system has
been initially applied to semiconductor cooling in overcoming
one of the biggest barriers in developing faster computer
speeds -- heat. However Dr. Lee and his team believe
the technology could eventually reduce the size and
running cost of air conditioning by around 70%.
In a landmark deal that was assisted by UK Trade &
Investment, iCurie Lab Holdings Ltd. has attracted significant
series A investment from specialist US Emerging-Technology
finance organization Hansen Gray & Company, Inc.
, to establish the worldwide headquarters in the UK.
The new company also hopes to create hundreds of new
jobs in the UK nanotechnology sector.
iCurie's Chief Executive, Dr. Jeong Hyun Lee said: "The
world has only recently started to understand the true
impact of current cooling methods which can often consume
a significant amount of energy or use chemicals which
could endanger the environment. We wanted to provide
our solution to the problem as efficiently as possible
from a global-rollout perspective. We found that the
UK offers the ideal financial, technical and corporate
environment from which to grow a major global business."
Mark E Gray, Chief Executive of Hansen Gray & Company,
Inc, said: "We could not be more pleased to have
completed the iCurie agreement, and our special thanks
goes to the British Government's Global Entrepreneur
Programme and their crucial support. We believe in world-class
management teams, as well as businesses with the potential
for sustainable growth based on quality and innovation
in the value chain, versus ones that compete solely
on price. We were very impressed with Dr. Lee and iCurie's
underlying innovations which embody all of these qualities,
when properly supported in the right funding and development
environment."
William Pedder, head of UKTI's Inward Investment team
said: "This important agreement represents a double-win
for the UK, by attracting both word class scientists
and intellectual property in iCurie Labs, as well as
significant inward-investment finance from Hansen Gray
& Company to the UK. We are delighted that the strengths
of the UK have once again been recognized as one of
the most favorable locations in the world for establishing
a knowledge-based global business."
iCurie and Hansen Gray were provided with assistance
and resources of UKTI's Global Entrepreneur Programme,
crucial information on key strategic funding sources,
as well as professional advice from PricewaterhouseCoopers
on the most efficient corporate structure to create,
protect, and develop a new major global business.
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Nano Biz
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