Calyos space coolers funded for ground-based electrical outlets

Ten years after its inception, the Jumet company raises 4.4 million euros with its first commercial products in sight. The cooling of the satellites invites itself to the earth.

For the Calyos company, it is fundraising that should make it possible to move on to the commercial scene. The Jumet-based company reveals for L’Echo that it has just raised 4.4 million euros. The company’s shareholders include Sambrinvest, SFPI, Invest For Jobs, the investment fund for industrial diversification of Charleroi (Fidic) or even Finindus.

The technology that results from the space ball from Calyo’s lures on paper. The company is developing sustainable cooling systems that do not need electricity to operate. “We use the energy generated by the component itself,” says CEO Antoine de Ryckel. In jargon, the technology is called “two-phase cooling” or “passive two-phase cooling”.

The latter comes from the space universe, where it has been equipped with satellites for some time. The challenge was to adapt it to a terrestrial environment, especially in terms of gravity. Calyos is therefore a spin-off of Nvellois Euro Heat Pipeseven a subsidiary of Airbus Defense and Space.

But things for the spin-off took a while. “They say a start-up needs 3 years, but we are more of an old start-up,” they admit Ryckel.

Calyos was founded 10 years ago and has gone through more complicated times. At the beginning of 2021, the company had to settle debts of 3.5 million euros and launch a bond loan of 1.5 million euros.

The challenge is, in addition to technology, to find commercial outlets for a technology that is still expensive. The technology costs 20,000 euros in terrestrial, and a good part of the work for the team of 17 people is to reduce costs.

the moment of truth

Calyos CEO Antoine de Ryckel is aiming for profitability in 2024.
© Calyos

After years of development, the next two years are the moment of truth for Calyos. The tests are in their final stages and commercial products should soon see the light of day. “We are moving from the prototype phase to mass production,” says the CEO, who works with about twenty customers and is also looking for strategic partners for the production.

Hybridization of aircraft, batteries for electric cars, data centers, data, computer processors for high-frequency commerce or even within nuclear power plants, it is not the potential outlets that are lacking for Calyos.

The sales opportunity for electric cars is particularly highlighted. In this flourishing field, “The need for advanced thermal solutions is increasingly critical. At the same time, the urgent need to reduce CO2 emissions means that thermal solutions such as those offered by Calyos become essential, “said Calyos.

Twelve months to decide

Within twelve months, the boss intends to take a stand on the areas that are most successful. Small series production can take place directly in the company. Otherwise, it becomes a matter of tracking customers.

From this year, a first project should be completed. However, some customers are experiencing difficulties, especially due to supply chain issues, which can delay some project at Calyos.

“The money raised allows us to look forward to 2024”,

Antoine de Ryckel

Calyo’s CEO

“The money raised makes it possible to look forward to 2024,” says the CEO, who is aiming for break-even in the same year 2024.

In this business niche, Calyos has no real direct European competitor. “The competitors are from Japan or the United States, but we are actually more in competition with other technologies,” the CEO adds.


  • Calyos has just raised 4.4 million euros from various investors, including Sambrinvest and SFPI.
  • Ten years after its creation, the Jumet company believes it can sell cooling systems derived from the technology that equips satellites.
  • The money raised should make it possible to find industrial partners and complete the first commercial versions to achieve profitability in 2024.
  • Electric cars, hybrid aircraft or data centers, the outlets for this cooling that does not consume energy are many.

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