Danfoss buys minority shares in Nelumbo

Tuesday, 26 June 2018

Danfoss has purchased minority shares in Nelumbo, an American start-up company located in Hayward, California, USA. Nelumbo has developed a unique surface treatment technology that can be used for improved heat exchanger performance and corrosion resistance.

With its recent investment in Nelumbo, Danfoss continues to add significant new technology to its portfolio of solutions and services.

“The partnership with Nelumbo clearly demonstrates our ambition to invest in new, innovative technology and always look to engineer a better future. This is a very promising company and we are excited about the potential Nelumbo holds for heat exchangers and the broader HVAC market,” says Jürgen Fischer, President Danfoss Cooling Segment.

“With this step, we will be able to offer customization capabilities that meet growing customer requirements for superior performance and reliability in the HVAC (heating, ventilation & air-conditioning) market”, says Lars Rasmussen, Vice President, Danfoss Cooling Heat Exchangers.

The investment gives Danfoss a first-mover advantage and a strong differentiation in the fast-growing market for heat exchanger products.

As Liam Berryman, CEO and one of the founders of Nelumbo, says, “Nelumbo and Danfoss are breaking through the fundamental challenges that heat exchangers face today. Together we can deliver unique functionality to customers and significantly raise the bar for what these products can do. I am very excited to see our partnership make a lasting impact on the HVAC market”.

Nelumbo was formed by 3 engineers from University of California, Berkeley in 2015. The company currently employs 8 people and is located in Hayward, California, USA. www.Nelumbo.io

For more information:

Mikkel Thrane, Head of Media Relations, Danfoss, mobile: +45 2476 4796, E-mail: mikkel.thrane@danfoss.com

Liam Berryman, CEO & Founder, Nelumbo, phone: +1 650-576-9795, E-mail: liam@nelumbo.io

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Danfoss engineers advanced technologies that enable us to build a better, smarter and more efficient tomorrow. In the world’s growing cities, we ensure the supply of fresh food and optimal comfort in our homes and offices, while meeting the need for energy efficient infrastructure, connected systems and integrated renewable energy.

Our solutions are used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery.

Our innovative engineering dates back to 1933 and today Danfoss holds market-leading positions, employing 27,000 and serving customers in more than 100 countries. We are privately held by the founding family.