Tela Innovations CFO Peter Calverley Joins CoolIT Systems' Board of Directors

Silicon Valley Executive to add depth of industry expertise to next generation liquid cooling manufacturer's Board of Directors

CALGARY, Alberta. 25 April, 2017 – CoolIT Systems, world leader in energy efficient liquid cooling solutions for the HPC, Cloud and Enterprise markets, today announced that Peter Calverley, CFO of Tela Innovations, has been elected to CoolIT’s Board of Directors. Doug Reid has retired from the Board after 5 years of service.

With over 30 years’ experience in Silicon Valley, Calverley has built an impressive resume of executive roles with both large and early-stage technology companies. Peter’s foundational business-executive experience in Silicon Valley was working with notable names such as Cadence Design Systems, UB Networks (Ungermann-Bass), ROLM Corporation and Atari. At Cadence Design Systems, he served as Executive VP, Finance for the Worldwide Services organization which ramped from $50M to over $200M annually during the four years he served in this role.

“I am excited to join the Board of Directors at CoolIT Systems – a company leading the industry with its innovative, energy efficient direct contact liquid cooling solutions,” said Peter Calverley. “I believe CoolIT’s unmatched technology presents an enormous opportunity to facilitate a step-change in data center computational capabilities.”

“We are honored to welcome Peter Calverley to CoolIT Systems Board of Directors,” said Geoff Lyon, CoolIT’s CEO & CTO. “I am confident that his deep knowledge of business finance and intellectual property will be invaluable as CoolIT Systems continues to expand around the world.”

Calverley continues to serve as the CFO for Los Gatos, California-based Tela Inovations, Inc. Tela, a company that Calverley joined shortly after formation in 2006, is a leader in intellectual property for next-generation semiconductor design and manufacturing. He has been instrumental in its success in raising venture and corporate funding, negotiating a key acquisition which pivoted the company in a new technical direction, and handling financial discussions with major licensees including Qualcomm, TSMC and Samsung. To date, the company has returned significant capital to its shareholders, while continuing to actively license its patented technology.

Prior to Tela, Calverley held COO and CFO roles within several technology start-ups, including CoWare, a company spun out of IMEC-Belgium which is one of the largest technology research institutions in Europe with over 3,500 researchers on one centralized campus. Here he was instrumental in leading initial funding rounds, managing several acquisitions and helping to ramp the company to over 200 employees worldwide. CoWare was ultimately acquired by EDA industry-leader Synopsys.

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About CoolIT Systems
CoolIT Systems, Inc. is the world leader in energy efficient Direct Contact Liquid Cooling for the Data Center, Server and Desktop markets. CoolIT's Rack DCLC™ platform is a modular, rack-based, advanced cooling solution that allows for dramatic increases in rack densities, component performance, and power efficiencies. The technology can be deployed with any server and in any rack making it a truly flexible solution. For more information about CoolIT Systems and its technology, email or visit http://www.coolitsystems.com/.

Media Contact:
Lauren Macready, Marketing Manager
CoolIT Systems, Inc

+1 403 235 4985 EXT 230