CoolIT Systems Reports Record Annual Revenue

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Calgary, Alberta. March 2, 2022 – CoolIT Systems, maker of scalable direct liquid cooling technology (DLC) for desktops and data centers, is reporting a record-breaking 2021.

CoolIT’s progress in 2021 was led by their data center segment which experienced 93% year-over-year growth. Driven by their industry leading technology, CoolIT’s high performance computing customers integrated CoolIT technology at an incredible rate due in large part to the adoption of DLC beyond traditional supercomputing into enterprise servers. Leveraging core intellectual property, CoolIT has the broadest portfolio of products that support end-to-end advanced cooling solutions for a variety of data center environments. Progress in the data center segment was also buoyed by notable competitors exiting the space.

“2021 was a phenomenal year of growth for CoolIT. Our team members and partners around the world have done an incredible job through an incredibly difficult period, and I am extremely proud of what our group has accomplished,” said Patrick McGinn, COO of CoolIT Systems.

Noteworthy milestones throughout 2021 include the following:

  • Exceeding $100mm in sales for the first time, ultimately earning $110mm
  • 5-year CAGR of 55%, led by explosive growth in their data center segment
  • Cooling over 200 MW with their direct liquid cooling (DLC) technology with visibility on over 250 MW in 2022
  • Growing over 40% in employee headcount, across three major offices in Canada, Taiwan, and China
  • Implementing an automated robotic production line in their Calgary, Canada manufacturing facility
  • Opening their Taiwan headquarters and innovation center in New Taipei City
  • Opening their state-of-the-art Liquid Lab innovation center in Calgary, Canada
  • Winning the Deloitte Fast 50 Clean Technology award
  • Celebrating their 20th anniversary as the innovation beacon and thought leader in advanced cooling

“2021 was our best year yet at CoolIT and we are just getting started. Thank you to our incredible team and partners around the world for their support and amazing efforts this past year,” said Steven Walton, CEO of CoolIT Systems.