CoolChip Technologies Wins $200,000 MIT Clean Energy Prize

BOSTON--(BUSINESS WIRE)--CoolChip Technologies today became the grand prize winner of the MIT Clean Energy Prize for their revolutionary technology that reduces data center cooling needs. The MIT Clean Energy Prize is a national competition founded in 2008 by MIT, the U.S. Department of Energy and NSTAR to accelerate the pace of clean energy entrepreneurship and boost the clean energy economy.

“As we continue to grow our company, we also increase our ability to help companies substantially cut their computer-related operating costs in an affordable way.”

“Congratulations to CoolChip for their outstanding achievement and promising new data center cooling technology,” said Tom May, Chairman, President and CEO of NSTAR. “This kind of technology can revolutionize data center efficiency and it’s exactly these types of breakthroughs that make us proud to sponsor the MIT Clean Energy Prize.”

CoolChip was selected from 80 teams from over 40 universities by prominent judges. CoolChip helps data centers reduce cooling costs using patented technology to eliminate the thermal barrier that currently stifles the performance of a computer’s Central Processing Unit. Comprised of a team of engineers and business professionals with extensive experience in information technology and thermo-mechanical engineering, CoolChip is dedicated to delivering the next generation of ultra-high efficiency air-based CPU coolers.

“We’re extremely excited and quite humbled by this honor,” said William Sanchez, President, CEO and Co-founder of CoolChip Technologies. “As we continue to grow our company, we also increase our ability to help companies substantially cut their computer-related operating costs in an affordable way.”

Now in its fourth year, the MIT Clean Energy Prize is helping to jump-start the clean energy industry while creating jobs for our economy. In just three years it has helped form over two dozen companies that have already raised over $80 million in investment capital and research grants.

“We congratulate every one of this year’s finalist teams,” added May. “We’re so thrilled that the competition continues to attract such high caliber teams, each working to develop solutions to the world’s energy challenges.”

For additional information on the MIT Clean Energy Prize, please visit www.mitcep.org.

NSTAR is the largest Massachusetts-based, investor-owned electric and gas utility. The company transmits and delivers electricity and natural gas to 1.4 million customers in Eastern and Central Massachusetts, including more than one million electric customers in 81 communities and 300,000 gas customers in 51 communities. For more information, visit www.nstar.com.