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Iceotope raises USD $26 million in Series B funding

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SOFIAH NICHOLE SALIVIO

News Editor

Iceotope has raised USD $26 million in a Series B funding round led by Two Seas Capital and Barclays Climate Ventures.

Existing investors Edinv, ABC Impact, Northern Gritstone and British Business Bank also participated. The company plans to use the funds for product and engineering development, patent expansion, and work with partners to bring systems based on its liquid cooling technology to market.

The fundraising comes as data centre operators and other computing users face mounting heat-management challenges from AI hardware. Iceotope argues that newer GPU and accelerator platforms are pushing rack power densities towards 1MW and beyond, levels that conventional air cooling and direct-to-chip liquid cooling cannot adequately support.

Iceotope develops precision liquid cooling systems for AI infrastructure, high-performance computing, and deployments outside traditional data centres. It says the same thermal challenges are spreading as AI workloads move into broader enterprise and edge environments.

Forecasts cited by the company point to rapid growth in liquid-cooled AI systems. SemiAnalysis estimates the installed base of liquid-cooled AI accelerators will rise from about 3GW to 40GW within two years, driven by hyperscale and colocation demand for AI workloads.

That expected growth has made cooling a bigger investment theme in AI infrastructure. Iceotope says the global data centre cooling market is projected to reach USD $40 billion to USD $45 billion by 2030, with liquid cooling accounting for USD $15 billion to USD $20 billion.

The company recently surpassed 200 granted and pending patents, expanding its intellectual property portfolio as competition intensifies in cooling systems for dense computing environments. The latest financing is expected to support further work in that area.

Iceotope says its technology can reduce energy use by up to 40% and water use by up to 96% compared with traditional cooling methods, while enabling higher rack density. Those gains could appeal to operators facing high electricity costs, water constraints and pressure to cut emissions.

Chief Executive Officer and Chief Financial Officer Simon Jesenko described the round as a sign of investor support for the company’s timing and product focus.

“Securing such high-caliber investors validates both our technology and our market timing. We’ve spent years developing a robust, differentiated IP portfolio and products purpose-built for AI infrastructure, and we’re ready to scale at precisely the moment the industry demands more advanced, sustainable cooling technology. The opportunity ahead – both directly with customers and through our partner ecosystem – is significant,” Jesenko said.

Barclays Climate Ventures said the investment reflects the limits of existing cooling systems as AI adoption rises.

“With AI adoption rapidly increasing globally, Iceotope’s liquid-cooling technology offers a timely and innovative solution to the mounting limitations of traditional cooling systems. Its approach not only meets the escalating demands of AI and high-performance computing but also materially advances datacenter sustainability. Aligned with Barclays Climate Ventures’ mandate to invest in commercially scalable climate technologies, we believe Iceotope is strongly positioned in a growing market and capable of significantly improving energy efficiency in a critical sector,” said Steven Poulter, Head of Barclays Climate Ventures.



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Rosa’s Thai is giving away 4000 free Pad Thais to students

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Celebrating both GCSE and A-Level Results Days, the chain will offer the popular dish to students who buy one of its bubble teas.

The free offer is available at all 42 Rosa’s Thai restaurants across England and Wales.

To avail of the free noodles, students need to register on Rosa’s Thai website for a unique code, which they should present at the restaurant together with a copy of their results.

Rosa’s Thai has a new range of bubble tea flavours, including Ube-Taro, Matcha-Coconut, Mango Sticky Rice, and Milo Chocolate Milk, as well as favourites like Home-brewed Thai Tea with Tapioca, and Lychee Mango with mango boba.

Students can sign up for their free Pad Thai at rosasthai.com/result-day-free-pad-thai and find their nearest restaurant at rosasthai.com/locations.





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Historic coin company enters administration after 20 years

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The London Mint Office, which distributes commemorative coins and medals, appointed administrators on July 31 after 20 years in business.

The company’s website now displays a message confirming the appointment of Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP as joint administrators.

A spokesman for Alvarez and Marsal said: “On July 31 2026, Michael Magnay and Jonny Marston of Alvarez & Marsal Europe LLP were appointed as Joint Administrators of The London Mint Office Limited in administration (the “Company”).

“Regrettably, the Company’s liquidity challenges have led to a number of immediate redundancies. We are supporting the affected employees through the redundancy process.


What Happens When a Company Goes Into Administration?


“The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.”

The announcement confirms that it is no longer possible to purchase coins or medals through the company’s website.

The London Mint Office operates a distribution centre in Tonypandy, Rhondda Cynon Taf, where it employs a significant number of people.

Administration is a formal insolvency process triggered when a business cannot meet its financial obligations.

An insolvency practitioner is appointed to manage the company’s affairs and may attempt to restructure the business or sell off assets to repay creditors.


What happens when a company goes into Liquidation?


Founded in 2006, The London Mint Office describes itself as “one of the UK’s most trusted suppliers of historic, commemorative, and collector coins.”

It is part of Samlerhuset AS, a Norwegian company based near Oslo and one of Europe’s largest distributors of commemorative coins and medals.

Samlerhuset’s website states that it offers “provide a wide range of coins from ancient to modern, originating from virtually every country in the world.”

The London Mint Office has advised anyone with an interest in the company’s assets to contact the administrators at INS_THLMOL@alvarezandmarsal.com.





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Warning of new rules for Aldi and Lidl after watchdog review

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The Competition and Markets Authority (CMA) has provisionally decided that both discounters should be added to the Groceries Market Investigation (Controlled Land) Order 2010, which currently applies to Asda, Co-op, Marks and Spencer, Morrisons, Sainsbury’s, Tesco, and Waitrose.

This order is designed to prevent large grocery retailers from using land agreements to block competitors from opening nearby stores, often through restrictive covenants or exclusivity terms.

Juliette Enser, executive director of competition enforcement and markets at the CMA, said: “We want everyone to have the best choice of supermarket and range of prices when buying their groceries.

“To ensure this happens, we put rules in place to prevent big supermarket chains blocking rival stores from opening nearby – and now we propose applying those rules to Aldi and Lidl too.

“This is about allowing shoppers to choose where they spend their money and levelling the playing field for all major supermarkets.

“Today’s proposals are provisional and we welcome views before deciding the best way forward.”

The CMA’s review found that Aldi, Lidl GB, and Lidl NI now meet the criteria of ‘Large Grocery Retailers’ (LGRs) due to their store footprint, nationwide presence, procurement model, and the breadth of their grocery range.

Aldi and Lidl were originally excluded from the 2010 order as ‘limited assortment discounters’, offering a smaller selection of products compared to traditional supermarkets.

However, the CMA’s provisional findings indicate that this is no longer the case.

All three now operate large grocery stores, each with more than 1,000 square metres of shop floor space, and offer a full range of products, though with less category choice than some competitors.

They also purchase goods directly from suppliers through integrated wholesaling.

With the UK grocery market estimated to be worth £215 billion, Aldi and Lidl are now ranked among the top five retailers by market share.

The CMA is seeking feedback from stakeholders before reaching a final decision.

Aldi and Lidl could join the other supermarket chains later this year.

The CMA is inviting views until 5pm on Monday, September 7, 2026, and will issue its final decision in the autumn after reviewing responses.

If the discounters are included under the order, they will be prevented from using land agreements to limit competition from other supermarket chains.

The CMA aims to ensure competition across the grocery sector to give shoppers more choice and competitive pricing by removing obstacles to new store openings.





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