In November 2023, Hangzhou KeenCool Intelligent Technology Co. Ltd. completed a financing of tens of millions of RMB, with strategic investment by a fund under the central enterprise China Information and Communication Technology Group. The two parties will carry out in-depth strategic cooperation in the fields of customised development of submerged liquid cooling products and domestic and international market channel expansion.

Fiberhome Industrial Fund is an industrial investment platform jointly established by the central enterprise China Information and Communication Technology Group (CICTG) and its listed company Fiberhome (600498.SH). The company's team consists of a group of highly educated talents from Tsinghua University, New York University and other globally renowned institutions, who have been engaged in investment and business management for many years. The team is committed to searching for investment targets with the potential to become market leaders in semiconductor, network security, cloud computing, information communication and other niche areas. As a CVC platform under a global leading communications company, the company adheres to the investment philosophy of ‘synergy and symbiosis’, and makes use of its strong industrial resources in the communications field to promote the construction of a prosperous industrial ecosystem between invested companies and listed companies.

Hangzhou KeenCool Intelligent Technology Co. , Ltd. is a leading liquid cooling technology enterprise in China, which is committed to providing extremely reliable, extremely efficient and extremely low-cost liquid cooling equipment and solutions for data centres, communication base stations, energy storage and other scenarios, aiming at contributing to the social goal of ‘Carbon Peak and Carbon Neutrality’ together with our customers through liquid cooling technology. The company's R&D team has gathered experts in thermodynamics, automatic control, artificial intelligence, chemistry, systems engineering and other disciplines, and has been certified as a national high-tech enterprise, green technology evaluation by the National Green Technology Exchange Centre, and registration certificate of scientific and technological achievements in Zhejiang Province. At present, the company has led the development of industry standards such as CDCC alliance and operator's liquid-cooling white paper, and participated in the compilation of a number of industry reports and specifications. At present, we have led the development of industry standards such as CDCC alliance and operators' liquid cooling white paper, and participated in the compilation of many industry reports and specifications.

Along with the rapid development of artificial intelligence, the chip arithmetic and power consumption have increased significantly in parallel. According to the report of the Institute of Refrigeration, by 2025, the power consumption of China's data centres is expected to reach 341.8 billion kWh, with the annual power consumption accounting for about 5% of the total power consumption of the whole society, and the proportion will continue to rise; and the communications industry will consume 20% of the world's power. In order to better meet the demand for large computing power, the government has introduced relevant policies. According to the national energy conservation strategy and ‘dual-carbon’ plan, IDCs are generally required to have a PUE of less than 1.3. In addition, the reform measures of stepped billing for electricity have led to an overall increase in the price of electricity, which has further increased the need to reduce energy consumption. In addition to the government, large Internet companies and AI leaders are increasingly demanding heat dissipation, energy saving, and reliability of high-power IT equipment in order to achieve cost reduction and efficiency.

In this era, the traditional air-cooled cooling technology is facing great challenges, liquid cooling technology is bound to become the main trend of future development. Liquid-cooled technology refers to the natural heat dissipation of the equipment through the direct cooling of the coolant. Compared with air-cooled technology, liquid cooling technology has higher cooling efficiency, less noise and less energy consumption. According to the white paper on China's liquid-cooled data centre development released by CCID, the market size of China's immersion liquid-cooled data centre market will reach RMB 52.61 billion in 2025. According to the current data centre construction practice, cold plate liquid cooling faces the challenges of inconsistent technical routes, long landing cycle, and high coupling with servers. KeenCool focuses on immersion liquid cooling, providing decoupled from the server, cost-effective liquid-cooled Smart Computing Centre products and solutions. KeenCool's single cabinet cooling power can be up to 100kw, based on air-cooled servers for adaptive applications, servers do not need to be transformed, and rapid deployment is supported. In data centre, communication and other scenarios, single-phase immersion liquid cooling technology has more advantages in terms of cost, operation and maintainability.

KeenCool Intelligent masters industry-leading liquid cooling technology and breaks through the core technical difficulties and commercialisation challenges of single-phase liquid cooling. Through self-developed coolant, high-precision flow field technology and multi-stage intelligent control technology, it has created reliable single-phase submerged liquid-cooling products, which comprehensively help the national energy-saving new infrastructure. Up to now, KeenCool IntelligenT has reached deep cooperation with State Grid, China Telecom, China Mobile and other industry giants, landed liquid-cooled communication projects and large-scale liquid-cooled data centre projects in Shanghai, Zhejiang and other places across the country, taking the lead in completing the scaled application of third-party liquid-cooled equipment, and occupying the first place in the immersion liquid-cooled market in the communication and other industries.

The success of this round of financing is FiberHome's high affirmation of KeenCool Intelligent's strong R&D strength, commercialisation capability and industry market position. As a leading single-phase submerged liquid cooling company, KeenCool Intelligent will continue to strengthen the innovative research and development of liquid cooling technology, vigorously develop channel cooperation, and actively expand the overseas market to provide highly reliable, high-performance and cost-effective liquid cooling products and solutions for domestic and international data centres, communication base stations, energy storage and other scenarios.