Magneto has successfully raised €1 million to develop innovative, sustainable cooling systems using 3D-printed magneto-calorific materials, positioning itself in a rapidly growing and environmentally conscious market.

Information on the Target

Magneto is an innovative company based in Delft, Netherlands, and is a spin-off from Delft University of Technology. The company is dedicated to developing sustainable alternatives for traditional refrigeration systems, which predominantly rely on gas compressors. Despite the use of less harmful gases compared to previous years, these traditional systems remain toxic and contribute significantly to environmental degradation. Magneto aims to address these issues by utilizing a revolutionary 3D-printed magneto-calorific material in their heat pumps, which facilitates cooling without relying on harmful gases.

This groundbreaking material enables the construction of cooling systems that operate on harmless liquids, such as water, making it a safer and more sustainable option. Furthermore, Magneto's technology boasts up to 30% greater efficiency compared to conventional systems, offering significant energy savings in addition to environmental benefits. Recently, the company successfully secured €1 million in funding from a consortium of investors, which will support the development of their innovative cooling solutions.

Industry Overview in the Target’s Specific Country

The refrigeration industry in the Netherlands and globally is undergoing significant transformation as awareness of environmental issues rises. Traditional cooling systems that utilize gas compressors are being scrutinized for their ecological impact, particularl