Danfoss buys minority shares in Nelumbo
Danfoss has purchased minority shares in Nelumbo, an American start-up company located in Hayward, Calif. Nelumbo has developed a surface treatment technology that can be used for improved heat exchanger performance and corrosion resistance.
“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 of the 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 market,” said Lars Rasmussen, vice president of Danfoss heat exchangers.
Nelumbo was formed by three engineers from University of California, Berkeley in 2015. The company currently employs eight people and is located in Hayward, Calif.
“Nelumbo and Danfoss are breaking through the fundamental challenges that heat exchangers face today,” said Liam Berryman, CEO and one of the founders of Nelumbo. “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.”