Phononic, Inc.

Phononic, Inc. specializes in innovative cooling solutions utilizing solid-state technology, enhancing energy efficiency across various sectors without relying on traditional refrigerants. Phononic, Inc. was founded in 2009 in Durham, US, focusing on advanced cooling technologies.

The company has raised a total of USD 50. 00 mn through funding rounds, with the most recent Series G round on July 21, 2021, led by Goldman Sachs Merchant Banking Division. The company's founders are Patrick McCann and Tony Atti, with Tony Atti currently serving as CEO. Phononic's primary offerings focus on advanced cooling solutions, particularly their patented TTAP (Terminal Treatment of Air with Peltier) technology.

This innovative HVAC solution operates without traditional refrigerants or hydronic networks, delivering demand-based heating and cooling tailored to user needs. Phononic's solid-state technology enables significant energy efficiency improvements, catering to diverse sectors including data centers, e-grocery retail, pharmaceutical cold chain logistics, and high-performance computing applications. The company's clients include data center operators, grocery retailers looking to optimize refrigeration processes, and pharmaceutical companies that require precise temperature control for sensitive products. Phononic's products are primarily marketed in North America, Europe, and select markets in Asia, targeting industries seeking sustainable and efficient cooling solutions.

Phononic operates on a B2B transaction model, providing solutions directly to businesses across various sectors. Their revenue is generated through partnerships and direct sales agreements with clients, encompassing a range of applications from HVAC systems to thermoelectric cooling devices. Transactions typically involve the sale of their flagship TTAP systems and other thermoelectric solutions, which are sold through structured agreements that may include maintenance and support services. Pricing plans are designed to accommodate the specific needs and scales of clients, ensuring that the solutions can be integrated into existing infrastructures or new constructions seamlessly.

The company’s focus on high-performance and energy-efficient technologies positions them as a key player in driving operational cost reductions for their clientele. In July 2021, Phononic, Inc. raised USD 50 mn in Series G funding led by Goldman Sachs Asset Management. The company plans to utilize this funding to enhance its sales and marketing efforts, expand its domestic and international high-volume manufacturing capabilities, and grow its cooling and refrigeration product portfolio.

Phononic aims to introduce new products in the next couple of years, specifically targeting markets in Europe and Asia for expansion.