Carrier Ventures Announces Investment in Strategic Thermal Labs for Development of Groundbreaking Data Center Cooling Technology

PALM BEACH GARDENS, Fla., April 18, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced that its venture group, Carrier Ventures, is leading an investment and technology partnership with Strategic Thermal Labs ("STL"). Through this investment, Carrier will leverage STL's groundbreaking technology for a liquid cooling solution for data centers. The liquid cooling market is expected to approach $3 - 5B by 2028 driven by greenfield AI data center builds that will bring significantly higher rack power densities. Liquid cooling accounts for roughly 2% of overall cooling solutions within the data center today and is expected to increase to almost ~30% by 2028.