Johnson Controls invests in Innventure's Accelsius cooling unit

Johnson Controls (NYSE: JCI) made a strategic investment in Accelsius, a liquid cooling systems provider owned by Innventure Inc. (NASDAQ: INV), according to a statement from Innventure.

Accelsius develops two-phase, direct-to-chip liquid cooling systems. Johnson Controls announced the transaction in a separate press release.

In an unrelated transaction, Innventure closed a private placement of common stock and warrants anchored by CastleKnight, generating $9.75 million in gross proceeds. The company said this capital raise, combined with convertible debentures of up to $15 million from Yorkville, will provide working capital for ongoing business operations.

Innventure operates as an owner-operator that acquires or licenses technologies from multinational corporations and develops them into commercial ventures. The company focuses on what it describes as transformative, sustainable technology solutions.

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