Calyos space coolers funded for terrestrial outlets

Ten years after its creation, the Jumet company raises 4.4 million euros with its first commercial products in sight. The cooling of the satellites invites itself on earth.

For the Calyos company, it is fundraising that should make it possible to move on to the commercial stage. The Jumet-based company reveals to L’Echo that it has just raised 4.4 million euros. The company’s shareholders include Sambrinvest, the SFPI, Invest For Jobs, the Investment Fund for Industrial Diversification of Charleroi (Fidic) or even Finindus.

The technology, resulting from the space sphere, of Calyos is enticing on paper. The company develops sustainable cooling systems that do not need electricity to operate. “We use the energy generated by the component itself”, details the CEO, Antoine de Ryckel. In the jargon, the technology is called “two-phase cooling” or “passive two-phase cooling”.

The latter comes from the space universe, where it has equipped satellites for some time now. The challenge was to adapt it to a terrestrial environment, particularly with regard to gravity. Calyos is therefore a spin-off of the Nvellois Euro Heat Pipesitself a subsidiary of Airbus Defense and Space.

But things for the spin-off took a while. “They say a start-up needs 3 years, but we’re more of an old start-up,” concedes de Ryckel.

Calyos was founded 10 years ago and has gone through more complicated times. At the beginning of 2021, the company had to clear debts of 3.5 million euros and launch a bond loan of 1.5 million euros.

The challenge, in addition to the technique, is to find commercial outlets for a technology that is still expensive. The technology costs 20,000 euros in terrestrial and a good part of the work of the team of 17 people is to reduce costs.

moment of truth

The CEO of Calyos, Antoine de Ryckel, aims for profitability in 2024.
©Calyos

After several years of development, the next two years are the moment of truth for Calyos. The tests are in their final phase and commercial products should soon see the light of day. “We are moving from the prototype phase to mass production,” says the CEO, who works with around twenty customers and is also looking for strategic partners for production.

Hybridization of aircraft, batteries for electric cars, data centers, data, computer processors for high frequency trading or even the field of nuclear power plants, it is not the potential outlets that are lacking for Calyos.

The outlet for electric cars is particularly highlighted. In this booming field, “The needs for advanced thermal solutions are increasingly critical. At the same time, the urgent need to reduce CO2 emissions means that thermal solutions such as those offered by Calyos are becoming essential,” said Calyos.

Twelve months to decide

Within twelve months, the boss intends to decide on the areas that have the most success. Small series production can be done directly in the company. Otherwise, it will be a matter of tracking customers.

As of this year, a first project should be completed. However, some customers are experiencing difficulties, in particular because of problems in the supply chain, which could delay one or another project at Calyos.



“The money raised allows us to look until 2024”,

Antoine de Ryckel

Calyos CEO

“The money raised makes it possible to look until 2024”, details the CEO who is aiming for break-even in this same year 2024.

In this business niche, Calyos has no real direct European competitor. “The competitors are from Japan or the United States, but we are in fact more in competition with other technologies”, adds the CEO.

The summary

  • Calyos has just raised 4.4 million euros from various investors, including Sambrinvest and SFPI.
  • Ten years after its creation, the Jumet company thinks it can sell cooling systems derived from the technology that equips satellites.
  • The money raised should make it possible to find industrial partners and finalize the first commercial versions to reach profitability in 2024.
  • Electric cars, hybrid planes or data centers, the outlets for this cooling that consumes no energy are many.

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