Cool Ventures

What Cool Ventures does

Cool Ventures Inc. is a Calgary-based private industrial-technology company founded in 2015 by Colin Nikiforuk to commercialise the Modified Aqua-Ammonia Absorption (MA3™) refrigeration process. MA3 is a thermally driven, waste-heat-powered absorption cycle delivering ammonia refrigerant as cold as -75°C at a 5 kPa chiller operating pressure, an architecture positioned as a modern, lower-capex alternative to conventional mechanical compression for industrial cooling, CO2 liquefaction, NGL extraction, and small-scale LNG. Core products are the MA3 platform and two sub-products targeting carbon capture (MA3 ssCCUS, Chill and Distill™) alongside the Dense Phase Liquefaction Cycle (DPLC™) for ssLNG and NGL extraction. Patents are granted in 17 countries with applications pending in 40+.

The company operates an enterprise field-sales motion targeting carbon-intensive industries, natural-gas processing, and LNG operators, offering licensing and project-development opportunities and providing preliminary engineering and financial analysis. The wholly owned subsidiary Cool LNG Inc. develops, owns, and operates small-scale LNG projects, and Cool Science Inc. (formerly PTX Technologies Inc.) carries forward refrigeration/liquefaction IP. The most material disclosed commercial milestone is selection in March 2021 to supply LNG technology for the approximately $100 million Inuvialuit Energy Security Program serving the Mackenzie Delta; the technology was externally validated by Jacobs Consultancy Inc. in October 2017.

The business model combines technology licensing (royalties/engineering fees) with project ownership and operation via the Cool LNG Inc. subsidiary. Distribution relies on direct enterprise engagement led by the CEO and a downloadable corporate presentation, with supporting visibility through industry trade publications (JWN Energy, Gasworld, Natural Gas Intel). Management averages 30+ years of energy-sector experience, including CEO Ray G. Mills, who previously sold KUDU Industries to Schlumberger, and Executive Chairman George B. de Boon, with 40+ years of petroleum engineering experience. The company is privately held and discloses no revenue, funding rounds, or ownership structure.

Name

Cool Ventures

Legal name

Cool Ventures Inc.

Website

https://coolventuresinc.ca

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Cool Ventures Inc. is a Calgary-based industrial-technology company commercialising its patented MA3 aqua-ammonia absorption refrigeration platform for small-scale LNG, NGL extraction, industrial cooling, and carbon-capture applications across carbon-intensive industries.

Ownership category

akta.pro rank

Product category

Industrial Refrigeration & Gas Processing Technology

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Chillers & Cooling Plant Equipment (IMAHAKAE)

akta.pro secondary industries

LNG Equipment & Technology (Cryogenic, Turbines, Heat Exchangers, Boil-off Systems) (EUALAFAH), LNG EPC, Commissioning & Project Development (Engineering, Construction, Permitting) (EUALAFAI), Solvent/Sorbent/Catalyst Materials & Capture Equipment Manufacturing (Absorbers, Strippers, Heat Exchangers) (EUAAALAJ)

Keywords

• Industrial refrigeration technology
• Small-scale LNG production
• Carbon capture solutions
• Natural gas liquids extraction
• Ammonia absorption cooling

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Technology Licensing: Cool Ventures commercializes its MA3 technology through licensing arrangements with industrial companies. The company is open to collaborating with companies across project and licensing opportunities, providing preliminary engineering and financial analysis for interested parties with viable ssCCUS, ssLNG, and NGL Extraction projects.
2. Small-Scale LNG Project Development: Cool LNG Inc., a wholly owned subsidiary, focuses on developing, owning, and operating small-scale LNG projects using the patented MA3 technology.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Cool Ventures develops and licenses its proprietary MA3 (Modified Aqua-Ammonia Absorption) refrigeration technology, a thermally driven ammonia absorption process providing ammonia refrigerant as cold as -75°C at 5 kPa absolute. The company sells/licenses this platform for small-scale carbon capture (ssCCUS), small-scale LNG production (ssLNG), NGL extraction, biogas-to-RNG liquefaction, and industrial/data center cooling, and operates small-scale LNG projects through its wholly owned subsidiary Cool LNG Inc.

Product overview

Cool Ventures Inc. offers a portfolio of industrial refrigeration and gas processing solutions centered on its patented MA3™ (Modified Aqua Ammonia Absorption) core technology. MA3™ provides ammonia refrigerant chilling as cold as -75°C at low operating pressure, serving applications in small-scale carbon capture (ssCCUS), small-scale LNG (ssLNG), NGL extraction, and data center cooling. The DPLC™ (Dense Phase Liquefaction Cycle) is a complementary process module that works with MA3™ for LNG production and NGL extraction. MA3™ ssCCUS and Chill and Distill™ are specialized sub-products for carbon capture applications. The company also operates through its wholly owned subsidiary Cool LNG Inc., which focuses on developing and operating small-scale LNG projects.

Differentiator

Problem solved

Functional benefit

Brands

• MA3™: Modified Aqua-Ammonia Absorption refrigeration technology providing ammonia chilling as cold as -75ºC at 5 kPa absolute chiller operating pressure
• DPLC™
• Chill and Distill™
• Cool LNG Inc.

Products and services

• MA3 (Modified Aqua Ammonia Absorption) refrigeration technology Core refrigeration technology providing ammonia refrigerant as cold as -75°C at a chiller operating pressure of 5 kPa absolute. Thermally driven process utilizing waste heat from co-located industrial facilities, reducing mechanical rotating equipment requirements and delivering significant capital and operating cost savings. Patented in 17 countries and patent-pending in over 40.
• DPLC (Dense Phase Liquefaction Cycle) Process for NGL extraction and LNG production using stationary cryogenic equipment combined with MA3 technology. Targets small-scale LNG projects producing 50,000-200,000 USG/d per train. Uses ammonia chiller to cool gas to approximately -70°C.
• MA3 ssCCUS (Small-Scale Carbon Capture, Utilization, and Storage) Amine-based post-combustion carbon capture system using MA3 for liquefaction of CO2. Targets projects producing 50-400 tonnes CO2 per day (~20,000-150,000 tonnes per annum). Compresses CO2 to 230psi, then dehydrates and liquefies for truck transport or pipeline disposal.
• Chill and Distill Direct CO2 liquefaction process that chills and distills CO2 into liquid form without requiring an amine-based system. Ideal for applications with raw CO2 streams greater than 85%, such as power generation, process heaters, and industrial processes.
• Cool LNG Inc. small-scale LNG project development and operations Small-scale LNG project development, ownership, and operation services delivered through Cool LNG Inc., a wholly owned subsidiary of Cool Ventures, using patented MA3 refrigeration technology.

Quantifiable outcome

• Ammonia chilling temperatures as cold as -75°C
• +5 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered minor.

• sbh4 consulting (Stephen B. Harrison)minorStrategic or Co-development Partner · 13 September 2022Stephen B. Harrison, Managing Director of sbh4 consulting, has published articles describing how Cool's Aqua-Ammonia Absorption technology can utilize waste heat for deep cold, increasing energy efficiency in Carbon Capture and Storage systems. Harrison has written about the technology's applications for CO2 liquefaction and LNG production.
• Jacobs Consultancy Inc.minorImplementation/ SI/ Consulting Partner · 1 October 2017Jacobs Consultancy Inc. completed an external review of the MA3 refrigeration technology at Cool's pilot plant in October 2017. The review concluded that the technology is well suited for small to mid-scale LNG production and has been developed sufficiently to warrant scale-up to commercial operations. The review identified modifications for a path forward to enhanced functionality.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Linde plc: Linde is one of the world's largest industrial gas and engineering companies, with extensive capabilities in LNG, hydrogen, and CO2 processing. Its engineering division offers cryogenic process technology and EPC services that overlap with Cool Ventures' ssLNG, NGL, and CO2 liquefaction offerings.
• Air Products and Chemicals: Air Products is a global industrial gases leader with significant LNG, hydrogen, and CO2 capture technology offerings. It directly competes in small-scale LNG and CCUS markets where Cool Ventures is commercializing MA3, while also serving larger-scale customers.
• Caterpillar (Solar Turbines / Turbomachinery): Caterpillar's Solar Turbines and large engine divisions supply turbomachinery for LNG and gas processing. Cool's MA3 specifically eliminates the turbo-expander stage used in conventional small-scale LNG plants, positioning it as a partial substitute for incumbent turbo-machinery suppliers.
• Chart Industries: Chart Industries is a leading global manufacturer of cryogenic equipment and process technology for LNG, industrial gas, and carbon capture applications. It competes with Cool Ventures' MA3-based chillers and DPLC process on LNG liquefaction, NGL extraction, and CO2 liquefaction, though it offers a broader portfolio and is significantly larger and more established.
• Honeywell UOP: Honeywell UOP provides gas processing, NGL recovery, and carbon capture technologies for the energy industry. Its Ortloff, Callidus, and related technologies compete directly with Cool's DPLC for NGL extraction and ssLNG, and its capture offerings overlap with MA3 ssCCUS.
• Kawasaki Heavy Industries (CKD / Gas Turbine Division): Kawasaki Heavy Industries is a major supplier of cryogenic LNG, hydrogen, and CO2 processing equipment globally. Its LNG process technology and rotating equipment compete in the same small-to-mid-scale LNG and CCUS markets where Cool Ventures is commercializing MA3.

Direct peers

• Hamon & Cie: Hamon designs and manufactures heat exchangers, cooling towers, and air-cooled condensers used in oil & gas, petrochemical, and power generation. Its heat exchange and process cooling equipment competes with the heat exchanger and refrigeration sub-systems inside Cool Ventures' MA3 plants.

Others

• Tetra Tech: Tetra Tech provides engineering and consulting services for water, environment, and sustainable infrastructure, including carbon capture and energy transition projects. It does not directly compete with Cool's hardware but serves similar industrial CCUS customers in advisory and engineering roles.

Emerging players

• Coolbrook: Coolbrook (Finland) develops RotoDynamic and RDH technology for industrial heating and electrification of high-temperature processes, including LNG. It targets similar decarbonization outcomes for process industries as Cool Ventures' MA3, though via a different (electrical) thermodynamic approach.
• Energy Recovery Inc. Energy Recovery develops pressure exchanger and energy recovery technology for industrial applications, including CO2 compression and liquefaction. Its PX Pressure Exchanger overlaps with Cool's MA3 ssCCUS liquefaction and Chill and Distill approaches for energy-efficient CO2 processing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CoolVenturesInc
• LinkedInlinkedin.com/company/cool-ventures-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Cool Ventures