In Colorado, Rebound Technologies, a Denver-based startup developing a novel refrigeration technology, closed a $1.2 million seed round with support from PRIME Coalition, Closed Loop Ventures and Investors’ Circle. Rebound is deploying a freeze point suppression cooling cycle that targets the most critical part of the cold chain – refrigeration. The cold chain is a critical component of the global economy and cooling accounts for roughly 17 percent of all electricity consumption globally.
“Rebound’s refrigeration cycle promises 40 percent higher efficiency than what we have in the field today, while also providing bursts of on-demand, high capacity cooling.” said Matthew Nordan, Chairman of PRIME’s Investment Committee.
Many of the products and foods we use daily – ranging from agricultural products like meats and fruits to pharmaceuticals – are produced across the globe and then transported through the cold chain, an uninterrupted series of storage and distribution activities maintaining a specific cold temperature range.