Dentons has advised the German climate-tech startup Magnotherm on a €6.3 million financing round. Investors include Berlin-based venture capitalist Extantia Capital, which focuses on climate-friendly innovations, investment fund Revent, Beteiligungs-Managementgesellschaft Hessen and several individual investors. Magnotherm intends to use the new capital to drive forward the series production of refrigerators that are cooled by magnetic power. The technology is to be used, among others, in sustainable refrigerated shelves in food retail.
Magnotherm is a German company specializing in the development and production of highly efficient and sustainable refrigeration solutions. The company was founded in 2019 as a spin-off from the Technical University of Darmstadt and consists of experts in the field of permanent magnets and magnetocaloric materials. Magnotherm’s technology is based on magnetic materials that cool down a water mixture instead of using toxic refrigerant gases. Magnetic cooling is up to 40 percent more efficient than conventional solutions and produces no direct greenhouse gases. Magnotherm was awarded the Hessian Founder’s Prize for its technology, among others.
A Dentons team from Frankfurt and Munich, led by Dr. Gesine von der Groeben, provided the client with comprehensive legal advice on the financing round.
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