March 9, 2007 – NanoCoolers Inc., a Texas startup that specializes in advanced thermoelectric cooler (TEC) technology, has received a $3 million grant funded through the Texas Emerging Technology Fund (ETF) to accelerate the commercialization of its “refrigerator on a chip” (ROC) technology.

Founded in 2002, NanoCoolers develops advanced cooling technology using thermoelectric thin-film materials. The company’s thermal-management device development is focused on solid-state heat pumps that shrink conventional bulk TECs 1000&$215;, providing a 10× increase in thermal density and greater system efficiency. Compact refrigeration appliances that use Freon compressors could use solid-state technology to result in smaller, quieter, and more environmentally sound cooling devices for applications including computing, communications, biomedical systems, and more.

Gary Baum, vice president of marketing and business development for the startup, says, “The additional resources provided will accelerate our company’s commercialization activities for this new TEC technology. The ETF is an important program for emerging technology businesses in the State of Texas, facilitating faster growth for companies and an opportunity for future job creation.”

The Austin Chamber of Commerce’s Central Texas Regional Center of Innovation and Commercialization (CenTex RCIC) selected NanoCoolers after deliberating on criteria such as a stringent analysis of the market and financial opportunities that the company may represent, technology potential, management team, and economic impact to the State of Texas. The CenTex RCIC is a virtual center that operates out of the Chamber of Commerce, focusing on integrating technology development and commercialization. The center also works with the chamber’s AusTech Alliance, a group of technology businesses and organizations working to consolidate efforts to strengthen and grow the technology sector in Central Texas.