CoolIT Systems Reports Record Profitability and Growth in 2022

CoolIT Systems, the global leader in advanced cooling solutions for data centers, has announced a successful year in 2022, reporting record revenue and profitability growth. The company experienced an increase of over 50% year-over-year in revenue for commercial products and services for data centers. This growth was led by the adoption of CoolIT’s industry-leading technology, which is widely integrated by high-performance computing customers, particularly in enterprise servers.

“2022 was a year of major achievements for CoolIT Systems and we are excited to continue our leadership as the innovation beacon, authority and educator to industry. We are well positioned for further growth and we look forward to the continued shift that will happen in data center cooling in 2023 ” said Brandon Peterson, Senior Vice President of Product at CoolIT Systems.

Notable achievements throughout 2022 include the following:

  • Notable achievements throughout 2022 include the following:
  • CoolIT Systems announced record-breaking revenue and profitability growth in 2022, reporting a year-over-year increase of over 50% for commercial products and services for data centers.
  • CoolIT Systems played a crucial role in the achievement of the Frontier supercomputer at Oakridge National Lab, which topped the June 2022 Top500 and Green500 lists as the fastest, most efficient and most sustainable supercomputer in history, made possible by CoolIT’s patented direct liquid cooling technology.
  • CoolIT Systems invested in world-class manufacturing facilities, including the industry-leading innovation center, the 13,000 sqft Liquid Lab, where the company prototypes and tests the next generation of advanced cooling products.
  • CoolIT Systems increased its employee headcount by over 23% across its major offices in Canada, Taiwan, and China, setting itself up for further investment in people, technology, and equipment to support the expansion of data center liquid cooling globally.
  • On Earth Day 2022, CoolIT celebrated the environmental impact of its advanced cooling solutions, saving on the consumption of over 1 Billion kWh, equivalent to nearly 800,000 Metric Tons of CO2, demonstrating its commitment to sustainability.
  • CoolIT Systems’ transition to enterprise adoption resulted in over 50% growth in its commercial business in 2022, delivering direct liquid cooling technology to a leading digital finance company from India and expanding its reach in new geographies, including Japan, India, and Korea.
  • CoolIT was front and center at industry-leading events such as: The OCPSummit22 by The Open Compute Project Foundation, ISC 22, Computex Taipei and SC22 in Dallas, TX.
  • CoolIT Systems is named one of North America’s Fastest-Growing Tech Companies as part of the 2022 Deloitte Technology Fast 500™ program.

“To our team members, customers, and partners, we thank you as we continue to set the standard and shape the future of advanced cooling” said Brandon Peterson, Senior Vice President of Product at CoolIT Systems.

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