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Nokia and Innventure collaborate to commercialize Nokia Bell Labs’ high-performance cooling technology

• Innventure has established a new company, Accelsius, to commercialize Nokia’s
groundbreaking cooling technology for critical electronic equipment.
• The technology offers high-performance, energy efficient cooling.
• Accelsius has acquired the rights to the technology from Nokia and will be responsible for
its further development and commercialization.

June 13, 2022

Espoo, Finland & Orlando, Florida – Nokia and Innventure announced plans to
commercialize high-performance cooling technology developed by Nokia Bell Labs for data
centers and mobile network equipment. Innventure has established a new company, Accelsius,
which has acquired the rights to the cooling technology from Nokia and will be responsible
for its further development and commercialization.
The groundbreaking, scalable cooling technology provides cooling direct to the chip or other
heat sources. A passive two-stage coolant circulation process enables reliable, energy efficient
heat transfer and dissipation from high density heat sources, without using pumps. The simple
to install, energy efficient and compact cooling solution is adaptable for a broad range of
critical electronic equipment and can be deployed at any scale, from a single server to large
data centers.

Jukka Nihtila, Nokia’s Vice-President of Patent Transactions and External Alliances, said:
“Energy efficient networks and reliable cooling have always been important areas of innovation
at Nokia. By collaborating with Innventure, our hugely versatile cooling technology can be
offered to a broad range of companies in different industries to meet the challenge of heat
densities in data centers and telecom networks while lowering energy consumption.”

Bill Haskell, CEO of Innventure, said: “We are very excited to build a new
company around a technology that Nokia Bell Labs has been developing for more than a
decade. This innovative technology addresses an acute market need across the entire
spectrum of networking and computing sites. It is positioned to disrupt the cooling industry
as it exists today with flexible solutions that can be widely deployed for data centers and

Theodore Sizer, Lab Leader, Optical Systems and Device Research at Nokia Bell Labs said:
“We are delighted to work with Innventure to commercialize our groundbreaking cooling
technology. This innovative solution developed at Nokia Bell Labs will enable cooling of
computing systems with high heat densities, at low energy consumption and with very little
complexity. This advancement will help data centers continue to grow their computing
capacity while becoming more energy efficient.”
The collaboration between Nokia and Innventure follows the announcement in 2019 that the
two companies would work together to commercialize Nokia’s technology and intellectual
property in areas beyond Nokia’s core business.

About Nokia
At Nokia, we create technology that helps the world act together.
As a trusted partner for critical networks, we are committed to innovation and technology
leadership across mobile, fixed and cloud networks. We create value with intellectual
property and long-term research, led by the award-winning Nokia Bell Labs.
Adhering to the highest standards of integrity and security, we help build the capabilities
needed for a more productive, sustainable and inclusive world.

About Innventure
Founded in 2015, Innventure launches new companies targeting $1B+ potential enterprise
value through the identification, funding, and commercialization of truly disruptive
technologies invented by large Multinational Partners. To date, Innventure has launched
three new companies: PureCycle Technologies, Aeroflexx, and now Accelsius. The
technologies Innventure chooses to commercialize meet specific unmet needs and provide
immediate economic value that supports rapid adoption. We proactively help mitigate many
of the risks inherent in building high growth companies through our systematic
DownSelect® analysis and by supporting our new companies with seasoned leadership
through growth and exit.

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