Iceotope

Every GPU running an AI model produces heat. In modern data centres, cooling that heat costs almost as much as the energy used to run it. Iceotope has spent over 15 years solving this problem with technology radically different from standard air conditioning: precision liquid cooling. Founded in Sheffield in 2009, the startup has developed liquid cooling systems that directly immerse critical components — GPUs, CPUs, AI accelerators — in a dielectric fluid that absorbs heat with efficiency impossible for air. This approach, called chassis-level liquid cooling, requires no modifications to existing data centres and adapts to high-density deployments like those needed for AI clusters and HPC systems. The advantages are concrete: less energy for cooling, less noise, hardware that lasts longer thanks to more stable thermal management, and the ability to deploy high-density computing power even in non-traditional environments like the edge. In an era where data centres consume a growing share of global electricity and ESG pressure intensifies, liquid cooling becomes a strategic argument. In May 2026, Iceotope closed a $26 million Series B led by Two Seas Capital and Barclays Climate Ventures, with participation from Edinv, ABC Impact, Northern Gritstone, and British Patient Capital. The funds will be used to scale production and accelerate commercial expansion into high-growth AI infrastructure and HPC markets.