Founded in 2001, CoolIT Systems is still seeing rising success more than two decades later.
The Calgary-based leader in advanced cooling solutions for data centres recently reported record revenue and profitability growth.
“2022 was a year of major achievements for CoolIT Systems and we are excited to continue our leadership as the innovation beacon, authority and educator to industry,” stated Brandon Peterson, Senior Vice President of Product at CoolIT Systems, earlier this year.
According to Peterson, the company experienced an increase of 50% year-over-year revenue for commercial products and services for data centres.
“We are well positioned for further growth and we look forward to the continued shift that will happen in data centre cooling in 2023,” said Peterson.
The growth was enough to land CoolIT Systems among Financial Times’ list of the Americas’ fastest-growing companies. Other Calgary companies on the list include Field Safe Solutions and Consumer Genius, a fintech platform.
The company also cracked Deloitte Canada’s Enterprise Fast 15.
CoolIT Systems developed and patented Direct Liquid Cooling, which uses “the exceptional thermal conductivity of liquid to provide dense, concentrated cooling to targeted areas.”
This method reduces dependence on fans and other air handling systems, according to the company, which “results in much higher rack density, overall reduced power use, and significantly higher performance potential.”
By capturing component heat in a liquid path, CoolIT says DLC tech allows for higher component performance and reliability and decreased operating expenses.
The company says it began targeting the desktop gaming industry before expanding into data centres. With several dozen patents locked down for its tech, CoolIT Systems has now deployed more than four million cooling units worldwide.
Building on growth, CoolIT last year unveiled the Liquid Lab. Located at the company’s headquarters in Calgary, the lab is a 13,000-square-foot innovation centre.
“With a wide selection of specialized equipment and numerous test areas, the Liquid Lab is home to prototyping and testing activities required for CoolIT’s industry leading product development,” the company states online. “At the Liquid Lab, we solve the problems of today and enable the technology of the future.”