What Exoès does

Exoès is a French thermal management specialist for electromobility, founded in 2009 in Gradignan (Bordeaux metropolitan area) by Arnaud Desrentes (CEO) and Rémi Daccord (Technical Director). The company provides engineering services and proprietary thermal technologies — most notably E-MERSIV dielectric immersion cooling for lithium-ion batteries, with extensions to heat pumps, air conditioning/chiller systems, and the EVE® Rankine cycle exhaust heat recovery system for heavy goods vehicles. The technology stack spans 0D/1D/3D simulation, design, prototyping, in-house test bench manufacturing, and vehicle integration, supported by more than 500,000 hours of accumulated thermal R&D and over 20 patents filed by the co-founder.

Exoès operates a one-stop-shop model delivering three revenue streams: advanced engineering services (thermal, mechanical, fluid, electronic, and electrical engineering on 8–22 month project cycles), proprietary battery pack sales through the E-MERSIV joint venture with St@rtec Developpement (EVOLUTIV, POWERSIV, and SUBMERSIV product lines for rail, aerospace, marine, and defense), and turnkey test bench and test center deliveries to customer sites. Pricing is project-based and not publicly disclosed.

The company serves over 25 blue-chip clients across the EU, UK, and USA — including a top-5 global automaker, a North American fluid manufacturer, Castrol, Arkema, Chemours, Volvo Group, PSA (Stellantis), Schneider Electric, Sanden Europe, Flying Whales, and Ascendance Flight Technologies. Approximately 80 employees supported €10 million of revenue in 2023, and a €35 million growth round led by Meridiam Green Impact Growth Fund and Bpifrance Fonds Avenir Automobile 2 in March 2024 is funding international expansion and battery manufacturing scale-up.

Name

Exoès

Legal name

SAS EXOES

Website

https://exoes.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Exoès is a French thermal management specialist for electromobility, providing immersion cooling engineering services, proprietary battery packs, and test bench systems to automotive OEMs, aerospace, marine, and fluid manufacturer clients across Europe and North America.

Ownership category

akta.pro rank

Product category

EV Thermal Management Engineering and Battery Immersion Cooling

NAICS

Electrical Equipment, Appliance, and Component Manufacturing (335), Battery Manufacturing (33591), Electrical Equipment Manufacturing (33531)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electrical Industrial Apparatus (3620), Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Thermal Management Systems for EVs (Battery/E-Powertrain Cooling & Heating) (IMACACAG)

akta.pro secondary industries

Thermal Management & Safety Systems (cooling, fire detection/suppression, venting) (IMAGAHAI), Battery Thermal Management & HV Cooling System Service (TLAKAMAC)

Keywords

• Battery immersion cooling
• Thermal management engineering
• Exhaust heat recovery
• Ev battery systems
• Thermal test benches

Headquarters

HQ city

Gradignan

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Advanced Engineering Services: 360-degree engineering services spanning thermal, mechanical, fluid, electronic, and electrical engineering. Delivered from design and simulation through prototyping, testing, and vehicle integration. Clients include car manufacturers and fluid manufacturers. Revenue recognized over project delivery timelines typically spanning 8–22 months across multiple program phases.
2. High-Performance Battery Pack Sales: Sale of proprietary battery packs (EVOLUTIV, POWERSIV, SUBMERSIV) manufactured via the E-MERSIV joint venture with St@rtec Developpement. Targets rail, aerospace, marine, and defense sectors. Revenue from complete pack delivery including E-MERSIV immersion cooling technology.
3. Turnkey Test Bench Sales and Delivery: Sale and delivery of custom thermal test benches for battery, heat pump, and ORC Rankine cycle testing. Benches include acquisition/control chassis, fluid conditioning units, power supplies, climate chambers, and fluid filling systems. Training, maintenance, and calibration services bundled with bench delivery.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Exoès provides advanced thermal management engineering services and products for electromobility, including battery immersion cooling systems using dielectric fluids (E-MERSIV technology), 360° engineering services from design and simulation through prototyping, testing, and vehicle integration, three branded battery module product lines (EVOLUTIV, POWERSIV, SUBMERSIV), in-house manufactured thermal test benches and turnkey test centers, and the EVE® exhaust heat recovery (Rankine cycle) technology for heavy goods vehicles. Revenue is generated through engineering services projects and the sale of proprietary battery packs and test benches to enterprise customers in automotive, aerospace, marine, rail, and defense sectors.

Product overview

Exoès is a thermal management specialist for electromobility offering a comprehensive portfolio of engineering services and battery products. The core offering includes 360° advanced engineering services (design, simulation, prototyping, testing, and vehicle integration) supporting immersion cooling technology for batteries and thermal systems. The product portfolio consists of three branded battery modules: EVOLUTIV (high energy density for EVs), POWERSIV (high power for demanding applications), and SUBMERSIV (marine immersion cooling). E-MERSIV, a joint venture with St@rtec Developpement, delivers complete immersion-cooled battery packs. Supporting infrastructure includes custom thermal test benches and turnkey test centers for customers. The company also offers EVE® exhaust heat recovery systems using Rankine cycle technology.

Differentiator

Problem solved

Functional benefit

Brands

• E-MERSIV: Joint venture brand with St@rtec Developpement for immersion-cooled battery packs manufacturing
• EVOLUTIV
• POWERSIV
• SUBMERSIV
• E-MERSIV
• E-MERSIV

Products and services

• 360° Advanced Engineering Services Comprehensive engineering services spanning thermal, mechanical, fluid, electronic, and electrical engineering. Includes design, simulation, prototyping, testing, and vehicle integration for thermal management systems, delivered to automotive OEMs, tier-1 suppliers, and fluid manufacturers across the EU, UK, and USA.
• Battery Immersion Cooling Systems Thermal management systems using dielectric liquid coolant that submerges battery cells for superior heat dissipation and prevention of thermal runaway propagation. Supports cylindrical, pouch, and prismatic cell modules with full battery pack production capability.
• Thermal Systems (Heat Pumps, Air Conditioning, Chillers) Complete thermal management systems for electric vehicles including heat pumps, air conditioning, and chiller systems, with components such as compressors, pumps, and valves, integrated with battery and power electronics cooling loops.
• EVOLUTIV Battery Module High energy density NMC 60V module with up to 1000V serialization, 220 Wh/kg energy density, 1000 cycles, and robust thermal failure protection with 2x cell increase tolerance.
• POWERSIV Battery Module Maximum power LTO 200V module delivering 30C discharge rate exceeding 1 kW/kg power density with 15,000 cycle lifespan for high-power electric vehicle applications.
• SUBMERSIV Battery Module Immersed LFP 60V module designed for marine applications with up to 1500V serialization, 6000 cycles, and 120 Wh/kg energy density.
• Thermal Test Benches Custom-built thermal test benches for battery and electric drive train testing, including acquisition/control chassis, fluid conditioning units, power supplies, climate chambers, and secure test cells, delivered with training, maintenance, and calibration services.
• Turnkey Test Centers Complete turnkey installation of test centers on customer sites including module test chambers, abuse testing capabilities, performance and aging testing, with temperature range from -30 to +55°C.
• E-MERSIV Immersion-Cooled Battery Packs Complete immersion-cooled battery packs produced through the E-MERSIV joint venture with St@rtec Developpement using proprietary E-MERSIV technology, targeting rail, aerospace, marine, and defense applications.
• EVE® (Energy Via Exhaust) Heat Recovery System Piston expander technology recovering exhaust waste heat using a Rankine cycle for heavy goods vehicles, delivering 5% fuel savings and CO2 emission reduction, supported by proprietary calculation codes for steam compressors, steam turbines, and steam piston engines.

Quantifiable outcome

• 3–4x faster charging vs standard technologies
• +8 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Ascendance Flight TechnologiescoreStrategic or Co-development Partner · 10 September 2025LIME project officially launched September 10 under Europe's Clean Aviation program with a €5 million grant. Partnership to develop next-generation battery system with composite casing for hybrid-electric regional aircraft, targeting CS-23 and CS-25 certification standards with entry into service planned for ATR 42/72 by 2035.
• BasquevoltcoreStrategic or Co-development Partner · 10 September 2025LIME project partner contributing to the development of next-generation battery systems with composite casing for hybrid-electric regional aircraft under the €5M EU Clean Aviation grant.
• RWTH Aachen UniversitycoreStrategic or Co-development Partner · 10 September 2025LIME project academic partner contributing research expertise to the €5M EU Clean Aviation initiative for hybrid-electric aircraft battery system development, safety, modularity, thermal management, and digital twin development.
• AirbusflagshipStrategic or Co-development Partner · 10 September 2025Airbus supports the LIME consortium (led by EXOES) as a major aircraft manufacturer, providing industry perspective and certification pathway guidance for hybrid-electric regional aircraft battery systems targeting ATR 42/72 platforms by 2035.
• ATR (Avions de Transport Régional)flagshipStrategic or Co-development Partner · 10 September 2025ATR is the target platform for the LIME project battery system, with entry into service planned for the ATR 42/72 regional aircraft by 2035. ATR supports the consortium as a major aircraft manufacturer providing end-user requirements.
• DahercoreStrategic or Co-development Partner · 10 September 2025Daher supports the LIME consortium as a major aircraft manufacturer partner, contributing to the development of hybrid-electric aircraft battery systems under the €5M EU Clean Aviation program.
• FLYING WHALESflagshipStrategic or Co-development Partner · 30 September 202420-year contract for the development and production of complete immersion-cooled battery systems for the LCA60T airship — the world's most powerful airborne electric system, delivering up to 4×1MW of electrical power. EXOES uses Toshiba LTO SCiB cells with E-MERSIV immersion cooling. Production capacity planned at up to 36 airships per year. Includes full aftermarket support, EASA-145 repair center maintenance, and service training. One of the largest industrial contracts in EXOES history.
• E-MERSIV (Joint Venture with St@rtec Developpement)coreStrategic or Co-development PartnerE-MERSIV is a joint venture between EXOES and St@rtec Developpement focused on the design, manufacture, and testing of complete immersion-cooled battery packs. The JV combines EXOES's thermal management expertise with St@rtec's manufacturing capabilities to deliver turnkey battery solutions.
• SaftminorStrategic or Co-development PartnerPartnership with Saft (a Safran subsidiary) for joint battery thermal management testing and improvement, announced as part of EXOES's expansion into innovative battery development for the transport and energy sectors.
• Regen-By-2 Consortium (EU-funded)coreStrategic or Co-development PartnerEXOES participates in the Regen-By-2 project financed by the European Commission, involving approximately a dozen European universities and research centers focused on battery aging, simulation code development, and long-term thermal system research.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Mahle: Global Tier-1 automotive supplier with a dedicated thermal management portfolio for EVs (battery cooling, heat pumps, e-compressors). Comparable to Exoès as a thermal management solutions provider to OEMs but at vastly greater scale and with a broader product portfolio beyond immersion cooling.
• Valeo: French Tier-1 supplier and thermal systems leader (heat pumps, battery cooling, electric powertrain thermal management). Closest geographic and product peer to Exoès and a likely incumbent competitor for OEM thermal management programs, though at much larger scale and without an immersion-cooling specialty.
• Webasto: German automotive supplier with EV battery thermal management and high-voltage heaters portfolio. Comparable as an EV thermal solutions provider serving global OEMs; differs by focusing on conventional thermal management rather than dielectric immersion cooling.
• Modine Manufacturing: US thermal management manufacturer serving EV battery cooling, power electronics, and data center cooling markets. Comparable to Exoès in EV battery thermal management solutions, with overlapping customers in commercial vehicles and industrial applications.
• Saft (Safran): Industrial battery systems manufacturer serving aerospace, defense, rail, and energy storage. Both an existing Exoès partner (joint thermal management testing) and a peer competing for aviation/rail battery system programs with greater scale.
• BorgWarner: Global automotive Tier-1 with battery systems, thermal management, and power electronics portfolios serving EV OEMs. Comparable in EV thermal management focus at significantly larger scale; potential acquirer or competitor for OEM thermal contracts.

Direct peers

• Gentherm: US-listed thermal management and comfort technologies company serving automotive and EV battery thermal management markets. Directly comparable to Exoès in EV battery cooling focus, though Gentherm is established and publicly traded, versus Exoès's immersion-cooling specialty.
• Eberspächer: German supplier with strong positions in automotive thermal management and exhaust heat recovery — direct overlap with Exoès's EVE® Rankine-cycle exhaust heat recovery for heavy goods vehicles. Comparable technology overlap and OEM customer base in commercial vehicle electrification.
• Forsee Power: French battery systems manufacturer for heavy mobility (bus, rail, off-highway, marine). Closest peer to Exoès in delivering immersion-cooled and high-performance battery packs to European rail, marine, and commercial-vehicle OEMs — directly competing for similar programs.
• H55: Swiss electric aviation battery systems company (spin-out of Solar Impulse). Comparable to Exoès in targeting CS-23/CS-25-certified aviation battery systems; direct competitor for hybrid-electric regional aircraft and eVTOL platforms alongside Exoès's LIME project work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/exoes
• Xx.com/ExoesRankine

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Exoès