Thermoelectric cooler developer RMT raises $20 million

DECEMBER 22, 2010 -- RMT Ltd., a Russian manufacturer of miniature thermoelectric coolers, has revealed the sources of a recent infusion of more than $20 million in corporate funding. Half of the funding was invested in cash by the Russian Corporation of Nanotechnologies (RUSNANO) and S-Group Capital Management. The balance came from bank credit lines.

Dec 22nd, 2010

DECEMBER 22, 2010 -- RMT Ltd., a Russian manufacturer of miniature thermoelectric coolers, has revealed the sources of a recent infusion of more than $20 million in corporate funding. Half of the funding was invested in cash by the Russian Corporation of Nanotechnologies (RUSNANO) and S-Group Capital Management. The balance came from bank credit lines.

RMT says the funding will be used to expand its presence in the thermoelectric market and implement automated mass production of miniature thermoelectric coolers, cooling systems, and related devices.

The company says it is among the top 10 manufacturers of thermoelectric coolers in the world. Its sales activities include the USA, Canada, Europe, Russia, Japan, and other parts of Asia. RMT expects the expansion of its manufacturing capacity and implementation of advanced automated technologies will increase its world market share 4-5 times.

RMT has been active in the thermoelectric coolers market for more than 16 years. Its main focus is on thermoelectric cooling products for temperature stabilization of telecom lasers and cooled TOSAs, as well as cooling for IR and X-Ray detectors, CCD matrixes, FPA, and thermal imager calibration devices.

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