The coolchip, which consists of different semiconductor materials built using nanotechnology, has many advantages compared to common cooling technology: It is small, environmentally friendly, robust and can momentarily switch from cooling to heating.

Nanofreeze Technologies Lund AB was founded in September 2005, as a spin off from research performed at Lund University in the field of thermoelectrics. Nanofreezes current base of operation is at Ideon Innovation, where Nanofreeze recently moved in. Key partners are Lund University in Sweden , as well as several foreign research groups.