The investment adds single- and two-phase immersion cooling technologies to Modine’s portfolio, further cementing the company’s position as a complete cooling solutions provider as data center heat loads rise.
RACINE, Wis., Jan. 2, 2024 /PRNewswire/ — Modine (NYSE: MOD), a diversified global leader in innovative thermal management solutions, announced today that it had purchased the intellectual property and other specific assets of TMG Core, a specialist in single- and two-phase liquid immersion cooling technology for data centers with high-density computing requirements.
“Modine’s investment in liquid immersion cooling technology advances our strategy to expand our global data center product offering and capture market opportunities that help us achieve our long-term growth targets,” said Neil Brinker, President and Chief Executive Officer of Modine. “This investment strengthens Modine’s position in the rapidly growing data center market, providing our customers with advanced solutions to support high-density, accelerated computing applications, such as generative artificial intelligence, 5G and machine learning.”
This investment positions Modine to capture share in the rapidly developing data center liquid cooling market, which analysts forecast to reach $7.8 billion by 2028. Liquid immersion cooling involves submerging IT servers in tanks filled with non-conductive fluid that dissipates the heat generated by the IT load. This process enables increased computing density in a sealed environment and supports reduced energy and water consumption, along with the potential for heat reclaim. Liquid immersion cooling also serves edge data center applications where data processing must be closer to the source to reduce latency, such as in autonomous vehicles.
“Modine’s investment in liquid immersion cooling technology expands the innovative solutions our Airedale brand can offer throughout the thermal chain, allowing us to cover air, liquid and hybrid systems,” said Eric McGinnis, President, Modine Climate Solutions. “Our customers lean on us to help them solve the heat problem in next-generation, mission-critical IT applications where they need to maximize processing efficiency while complying with increasingly strict emissions and energy efficiency requirements. We look forward to working with our key customers and partners in this increasingly critical area, supplying complete systems with intuitive controls that are manufactured and supported globally.”
About ModineAt Modine, we are Engineering a Cleaner, Healthier World™. Building on more than 100 years of excellence in thermal management, we provide trusted systems and solutions that improve air quality and conserve natural resources. More than 11,000 employees are at work in every corner of the globe, delivering the solutions our customers need, where they need them. Our Climate Solutions and Performance Technologies segments support our purpose by improving air quality, reducing energy and water consumption, lowering harmful emissions and enabling cleaner running vehicles and environmentally-friendly refrigerants. Modine is a global company headquartered in Racine, Wisconsin (U.S.), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.
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SOURCE Modine