Global Cooling Inc., developer and manufacturer of Stirling Ultracold ultra-low temperature (ULT) freezers, and a TechGROWTH Ohio portfolio company, was named to the Columbus Business First 2019 Fast 50 list as one of the fastest growing companies in Central Ohio.
“By providing innovative and sustainable ultra-low storage solutions to our global customers, we’ve had the good fortune of making a positive impact on our local community and regional economy,” said Neill Lane, President and CEO of Global Cooling, Inc. “We are honored to be recognized by Columbus Business First as a high-growth company.”
As an emerging, world-class manufacturer of ULT freezers based in Athens, Ohio, Global Cooling has helped to build the economy of Southeastern Ohio and the rest of the state. The company’s proprietary free-piston Stirling engine is used in Stirling Ultracold freezers to help advance life sciences and biotech research, while using 70-75% less energy than traditional ULT freezers. The freezers preserve biological research specimens at extremely low temperatures, -86°C to -20°C, and offer a more compact, environmentally sustainable solution.
TechGROWTH Ohio, a program of Ohio University’s Voinovich School of Leadership and Public Affairs, was the lead investor in Global Cooling’s first round of financing. The subsequent growth and successful later rounds of financing can also be attributed to the financial and operational support from TechGROWTH, as well as the Ohio Innovation Fund.
As one of Ohio Third Frontier’s entrepreneurial service providers, TechGROWTH provides technology start-up companies in the 20-county Southeast Ohio area access to business assistance and sources of capital. More than 2,000 area start-ups and entrepreneurs, Global Cooling Inc. included, have generated over $550 million in additional local economic activity with TechGROWTH’s support.
“TechGROWTH is recognized as a national best practice example of boosting regional economic development through growing technology companies,” said Mark Weinberg, Voinovich School Dean. “By leveraging investment made by the state’s support of the Ohio Third Frontier program, along with Ohio University resources, Voinovich School programs have generated more than $3 billion in economic impact since 2014.”
Columbus Business First, which features local business news about Columbus, lists the companies only when for-profit, privately held and generated at least $1 million in revenue for the past three years. The nominated companies further share their financial information directly with GBQ Partners, who calculate the annual Fast 50 based on the highest growth rates.