Hengelo-based Cooll, a cleantech company pioneering thermally driven heat pumps, has raised €4.5M in fresh funding and announced the appointment of a new CEO, Sicco Rust, who will take over in January 2026.
The new capital will be used to produce and install 100 wall-hung thermally driven heat pumps across the Netherlands in collaboration with partners. Cooll’s solution is designed to cut household energy use and CO₂ emissions by 25–40% without increasing demand on the electricity grid — a critical step in decarbonising the building sector.
The €4.5M round combines subsidies from the Dutch EFRO and Canadian NGIF programs, along with follow-on investments from existing shareholders and new backers. The funding follows major technical and certification milestones, including CE-marking, hydrogen readiness, and live product demonstrations completed in 2024–2025.
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Leadership transition
Cooll also announced that Sicco Rust will join as CEO in January 2026. Currently CEO of TCB in Assen, Rust brings deep experience from the heating sector, having worked on the introduction of technologies such as the gas-fired heat pump.
Rust said his decision to join Cooll was driven by the potential of its thermally driven technology:
“To me, the energy transition is not an abstract goal, but a tangible challenge. At Cooll, we combine vision with decisiveness – and I’m proud to take the next step together with this team.”
His mandate will be to scale up commercial deployment, build market presence, and demonstrate the technology’s role in reducing emissions from existing buildings.
A circular-ready heating solution
Founded in 2009 as a spin-off from the University of Twente, Cooll develops thermally driven heat pumps that replace traditional condensing boilers without requiring additional infrastructure.
- Powered by natural gas, biogas, or hydrogen
- Works with both high- and low-temperature heating systems
- Designed as a one-to-one boiler replacement, with no outdoor unit needed
- Extracts heat from ambient air for higher efficiency
With over 6,000 homes already relying on Cooll’s technology, the startup is well positioned to scale its rollout in partnership with suppliers, installers, and early adopters.
