Cooll raises funds to support the rollout of its thermally driven heat pump technology. The company has also appointed a new CEO starting January 2026.

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Hengelo-based Cooll, a Dutch heating solutions company, has secured €4.5M in funding to support the market introduction of its thermally driven heat pump technology.

The funding follows the company’s completion of technical and certification milestones in 2024 and 2025, including CE-marking, hydrogen-readiness validation, and product demonstrations.

The €4.5M consists of subsidies from Dutch EFRO and Canadian NGIF, together with follow-on investments from existing shareholders and new investors.

Cooll has also announced that Sicco Rust will be appointed CEO in January 2026.

Capital utilisation

The funding will be used by Cooll to develop, produce, and install 100 wall-hung thermally driven heat pumps in the Netherlands in cooperation with partners.

Cooll stated that the technology is intended to lower building energy consumption without placing additional demand on the electricity grid. The company sees the planned rollout as a step toward wider commercial implementation and intends to work with partners, suppliers, and early adopters to expand deployment. 

By using existing energy infrastructure, Cooll aims to contribute to reducing emissions from the building sector.

A new CEO from January 2026

Cooll announced that Sicco Rust will be appointed as its new CEO starting January 2026.

Rust, currently CEO of TCB in Assen until the end of 2025, has held leadership roles in the heating sector with a focus on product development and commercialisation. In previous roles, he worked on introducing technologies such as the gas-fired heat pump.

In a statement, Rust says his decision to join Cooll was driven by the company’s thermally driven heat pump technology, which he views as fitting within the energy transition. He emphasised the potential for scaling the product with support from the Cooll team.

Rust described the heat pump as a system that can be retrofitted into existing heating infrastructure and that, according to the company, operates at higher efficiency compared to high-efficiency boilers. He noted that his role will be to help expand the company’s market presence and advance deployment.

Outside of his professional career, Rust lives with his family in the countryside, where he spends time on renovation projects, plays field hockey, serves on the board of a local hockey club, and enjoys sailing and motorcycling.

Rust says his goal at Cooll is to demonstrate that the technology can be scaled for use in the Netherlands and contribute to reducing energy use and CO2 emissions in existing buildings.

Sicco Rust says, ”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.”

Brief about Cooll

Founded in 2009 by Stefan van Uffelen and Johannes Burger as a spin-off of the University of Twente, Cooll produces a thermally driven heat pump intended to replace the condensing boiler in existing and new homes. 

The system is powered by natural gas, biogas, or hydrogen and works with both high- and low-temperature heating systems. According to the company, the technology can reduce gas usage and CO2 emissions by 25 to 40 per cent without increasing electricity consumption.

The heat pump is designed as a one-to-one replacement for condensing boilers and does not require a separate outdoor unit. It extracts heat from the outside air and can operate with different types of gas.