Nextreme Thermal Solutions
Technology:
Thin Film SuperlatticeThermoelectric material enabling new cooling and power generation applications..
Challenge:
Successfully take a promising technology with deep research and development traction to market.
Solution:
Partnered with Jesko von Windheim [an exceptional entrepreneur and co-founder of Cronos Integrated Microsystems (another RedShift Ventures company)], Rama Venkatasubramanian [a world leader in thermoelectrics research] and Research Triangle Institute [ RTI - a global non-profit research center] to identify an advanced technology opportunity with strong potential for commercialization.
Discovered a DARPA funded project that focused on a unique thin film superlattice thermoelectric material with tremendous potential for breakthrough cooling and power generation applications. Spent the next year working closely with von Windheim, Venkatasubramanian and RTI to recruit a commercial management team, complete the business plan, negotiate the spin-out, and syndicate the deal with co-investors.
Result:
Commercially launched a new company - Nextreme Thermal Solutions - that effectively leveraged an investment already made by DARPA. Nextreme is emerging as a world leader in thin film thermoelectric technology, and will recognize over $1 million in revenue during the first year of operations.