RMT raises $20m for expansion

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RMT, a manufacturer of miniature thermoelectric coolers for various optoelectronic applications, has announced that it has raised more than $20m through both debt and equity funding. Half of the company's funding was invested in cash by the Russian Corporation of Nanotechnologies (RusNano) and S-Group Capital Management. The remaining $10m was obtained through bank credit. The company has stated that the funding will be used to expand its presence in the thermoelectric industry, and to implement automated mass production of miniature thermoelectric coolers, cooling systems, and related devices.

Dr Gennady Gromov, the founder and CEO of RMT, said: 'We’re glad to start the collaboration with strong and experienced investors. With financing now fully in place, the company is well positioned for manufacturing expending and applying of new technologies. With these investments we’re about to create the most experienced and high-tech manufacturing of miniature thermoelectric coolers in the world.'