NeuCoolTM direct-to-chip solution offers data center operators an estimated 50% savings in energy costs and an 80% reduction in C02 emissions
Accelsius CEO Josh Claman showcased the NeuCoolTM platform at Data Center World 2024
ORLANDO, Fla.--(BUSINESS WIRE)--Innventure LLC (“Innventure” or “the Company”), an enterprise growth engine, today announced that Accelsius Inc. (“Accelsius”), the thermal management technology company Innventure launched in 2022, unveiled its two-phase, direct-to-chip liquid cooling technology designed for data centers. The NeuCoolTM system is expected to deliver best-in-class thermal performance for powerful processors that run AI, machine learning, high-performance computing and other intensive workloads.
“Accelsius exemplifies the best of the Innventure model,” said Bill Haskell, CEO of Innventure. “We use our expertise and partnerships with multinational corporations to bring breakthrough technologies to market and maximize their value. Accelsius combines a world class team with a transformative technology-based solution—the hallmark of an Innventure company. We look forward to continuing to build disruptive companies, from inception through commercialization, that potentially satisfy unmet market needs and, in our view, have a clear path for growth.”
Accelsius CEO Josh Claman unveiled NeuCool™ at Data Center World 2024, a global conference designed to help data center and IT professionals discuss solutions for today’s key challenges. Accelsius shared the stage with panelists from leading IT tech firms to discuss how the rapid adoption of AI, and the associated rise in electricity consumption, requires liquid cooling at scale. NeuCoolTM is expected to offer an estimated 50% savings in energy costs, an 80% reduction in CO2 emissions, and use zero water.
Innventure uses operational expertise to take breakthrough technologies sourced from multinational corporations to market. In the process, Innventure builds and scales companies around these technologies using a systematic, quantitative, and repeatable analysis.
Innventure has launched three such companies since its inception: PureCycle Technologies, Inc., AeroFlexx and Accelsius. PureCycle became a publicly traded company in 2021 and, as of December 31, 2023, Innventure owns less than 2% of PureCycle.
Earlier, Innventure announced its intention to enter into a business combination with Learn CW Investment Corporation, a special purpose acquisition company (NYSE: LCW).
About Innventure
Innventure founds, funds, and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from Multinational Corporations (‘‘MNCs’’). As owner-operators, Innventure takes what it believes to be breakthrough technologies from early evaluation to scaled commercialization utilizing an approach designed to help mitigate risk as it builds disruptive companies it believes have the potential to achieve a target enterprise value of at least $1 billion. Innventure defines ‘‘disruptive’’ as innovations that have the ability to significantly change the way businesses, industries, markets and/or consumers operate.
About Learn CW Investment Corporation
Learn CW Investment Corporation (“Learn CW”) was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Learn CW is sponsored by CWAM LC Sponsor LLC, an affiliate of Learn Capital, LLC (“Learn Capital”) and Commonwealth Asset Management. Learn Capital is a leading venture capital firm focused on early- and mid-stage investments in the $5.4 trillion global education sector. Learn Capital was founded in 2008 by Rob Hutter and Greg Mauro, who formerly managed an affiliate of Founders Fund. The firm possesses decades of founding, operating, and investing experience in the education, consumer, hard tech, and enterprise technology sectors. Commonwealth Asset Management is a Los Angeles-based asset management platform founded in June 2019 and led by Adam Fisher, who is the former Head of Global Macro and Real Estate at Soros Fund Management LLC and the former founder and Chief Investment Officer of Commonwealth Opportunity Capital, GP LLC.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statementswithin the meaning of Section 27A of the Securities Act of 1933, as amended,and Section 21E of the Securities Exchange Act of 1934, as amended, includingstatements regarding the parties or the parties’ respective management team’sexpectations, hopes, beliefs, intentions, plans, prospects or strategiesregarding the future, including the business combination, the parties’ abilityto close the referenced business combination, the anticipated benefits of thebusiness combination, including revenue growth and financial performance,product expansion and services, and the financial condition, results ofoperations, earnings outlook and prospects of Innventure and/or Learn CW,including, in all cases, statements for the period following the consummationof the business combination. Any statements contained herein that are notstatements of historical fact may be deemed to be forward-looking statements.In addition, any statements that refer to projections, forecasts or othercharacterizations of future events or circumstances, including any underlyingassumptions, are forward-looking statements. The words “anticipate,” “believe,”“continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,”“potential,” “predict,” “project,” “should,” “will,” “would” and similarexpressions may identify forward-looking statements, but the absence of thesewords does not mean that a statement is not forward-looking. Theforward-looking statements contained in this press release are based on ourcurrent expectations and beliefs made by the management of Learn CW andInnventure in light of their respective experience and their perception ofhistorical trends, current conditions and expected future developments andtheir potential effects on Learn CW and Innventure as well as other factorsthey believe are appropriate in the circumstances. There can be no assurancethat future developments affecting Learn CW or Innventure will be those that wehave anticipated. These forward-looking statements involve a number of risks,uncertainties (some of which are beyond the control of the parties) or otherassumptions that may cause actual results or performance to be materiallydifferent from those expressed or implied by these forward-looking statements,including those discussed and identified in the public filings made or to bemade with the SEC by Learn CW, including in the final prospectus relating toLearn CW’s initial public offering, which was filed with the SEC on October 12,2021 under the heading “Risk Factors,” or made or to be made by Learn SPACHoldco, Inc., and the following: expectations regarding Innventure’s strategiesand future financial performance, including its future business plans,expansion plans or objectives, prospective performance and opportunities andcompetitors, revenues, products and services, pricing, operating expenses,product and service acceptance, market trends, liquidity, cash flows and usesof cash, capital expenditures, and Innventure’s ability to invest in growthinitiatives; the implementation, market acceptance and success of Innventure’sbusiness model and growth strategy; Innventure’s future capital requirementsand sources and uses of cash; that Innventure will have sufficient capital uponthe approval of the business combination to operate as anticipated;Innventure’s ability to obtain funding for its operations and future growth;developments and projections relating to Innventure’s competitors and industry;the occurrence of any event, change or other circumstances that could give riseto the termination of the business combination agreement (“BCA”); the outcomeof any legal proceedings that may be instituted against Learn SPAC Holdco,Inc., Learn CW or Innventure following announcement of the BCA and thetransactions contemplated therein; the inability to complete the businesscombination due to, among other things, the failure to obtain Learn CWshareholder approval; regulatory approvals; the risk that the announcement andconsummation of the proposed business combination disrupts Innventure’s currentplans; the ability to recognize the anticipated benefits of the businesscombination; unexpected costs related to the proposed business combination; theamount of any redemptions by existing holders of Learn CW’s common stock beinggreater than expected; limited liquidity and trading of Learn CW’s securities;geopolitical risk and changes in applicable laws or regulations; thepossibility that Learn CW and/or Innventure may be adversely affected by othereconomic, business, and/or competitive factors; the potential characterizationof Innventure as an investment company subject to the Investment Company Act of1940; operational risk; and the risk that the consummation of the businesscombination is substantially delayed or does not occur. Should one or more ofthese risks or uncertainties materialize, or should any of our assumptionsprove incorrect, actual results may vary in material respects from thoseprojected in these forward-looking statements. All forward-looking statementsin this press release are made as of the date hereof, based on informationavailable to Learn CW and Innventure as of the date hereof, and Learn CW andInnventure assume no obligation to update any forward-looking statement,whether as a result of new information, future events or otherwise, except asmay be required under applicable securities laws.
Additional Information and Where to Find It
In connection with the proposed business combination, LearnSPAC Holdco, Inc. has filed with the SEC a registration statement on Form S-4(as amended, the “Form S-4”) containing a preliminary proxy statement of LearnCW, a preliminary consent solicitation statement of Innventure and apreliminary prospectus with respect to the combined company’s securities to beissued in connection with the proposed business combination, and after theregistration statement is declared effective, the definitive proxy statement/consentsolicitation statement/prospectus relating to the proposed business combinationwill be mailed to Learn CW shareholders and will be sent to Innventureunitholders. This press release does not contain all the information thatshould be considered concerning the proposed business combination and is notintended to form the basis of any investment decision or any other decision inrespect of the proposed business combination. Learn CW’s shareholders,Innventure’s unitholders and other interested persons are urged to read thepreliminary proxy statement/consent solicitation statement/prospectus and theamendments thereto and, when available, the definitive proxy statement/consentsolicitation statement/prospectus and other documents filed in connection withthe proposed business combination, as these materials will contain importantinformation about Innventure, Learn CW, the combined company and the proposedbusiness combination. When available, the definitive proxystatement/consent solicitation statement/prospectus and other relevantmaterials for the proposed business combination will be mailed to shareholdersof Learn CW as of a record date to be established for voting on the proposedbusiness combination. Such shareholders will also be able to obtain copies ofthe preliminary and definitive proxy statement/consent solicitationstatement/prospectus and other documents filed with the SEC, without charge,once available, at the SEC’s website at www.sec.gov, or by directing a request to Learn CWInvestment Corporation, 11755 Wilshire Blvd., Suite 2320, Los Angeles,California 90025.
Participants in the Solicitation
Innventure, Learn CW and their respective directors,executive officers, other members of management, and employees, under SECrules, may be deemed to be participants in the solicitation of proxies of LearnCW’s shareholders in connection with the proposed business combination.Information regarding the persons who may, under SEC rules, be deemedparticipants in the solicitation of Learn CW’s shareholders in connection withthe proposed business combination are set forth in the Form S-4, including thepreliminary proxy statement/consent solicitation statement/prospectus, and willalso be set forth in the definitive proxy statement/consent solicitationstatement/prospectus when available. Investors and security holders may obtainmore detailed information regarding the names and interests in the proposedbusiness combination of Learn CW’s directors and officers in Learn CW’s filingswith the SEC and such information is also set forth in the registrationstatement filed with the SEC by Learn SPAC Holdco, Inc., including the proxystatement of Learn CW for the proposed business combination.
No Offer or Solicitation
This press release shall not constitute an offer to sell orthe solicitation of an offer to buy any securities, or a solicitation of anyvote or approval, nor shall there be any sale of any such securities in anystate or jurisdiction in which such offer, solicitation or sale would beunlawful prior to registration or qualification under the securities laws ofany such state or jurisdiction. This press release does not constitute eitheradvice or a recommendation regarding any securities. No offering of securitiesshall be made except by means of a prospectus meeting the requirements of theSecurities Act, or an exemption therefrom.
Media Contact:
Tim Biba, Solebury StrategicCommunications
Investor Relations Contact:
Sloan Bohlen, SoleburyStrategic Communications
investorrelations@innventure.com
