Conflux raises $11M in series B funding to help innovative companies achieve net zero through heat exchange

Melbourne, Australia, October 22, 2024 — Conflux Technology, a world leading heat transfer and additive manufacturing (AM) company, today announced its $11M Series B capital raise for further technology development and increased customer support across the globe. The round was led by Breakthrough Victoria, with participation from AM Ventures and Acorn Capital.

Conflux Technology is solving the world’s heat exchange limitations while helping its customers achieve net zero by manufacturing heat exchangers that are lighter, smaller, and can conform to unique geometries. With additive manufacturing, Conflux has the ability to print a high performance heat exchanger as a single part, saving on time, materials, and energy to produce the products more efficiently and reduce environmental footprint.

“At Conflux Technology we pride ourselves on providing efficiency through heat transfer performance and weight-reduction at the heart of the world’s devices,” said Michael Fuller, Founder and CEO of Conflux Technology. “With this additional funding and support, we will continue to advance our products and expand to support our customers across the globe.”

The funding will be used to speed up the development of Conflux Production Systems (CPS) – an advanced end-to-end manufacturing solution for producing AM heat exchangers – as well as scale hiring and support customer demand across the US, Europe and Asia. CPS is a comprehensive production system that replaces traditional heat exchanger manufacturing plants, automating the production of complex AM structures to ultimately address supply chain risk, increase efficiency, and streamline operations.

“Investing in Conflux and their revolutionary new heat exchanger technology signifies our commitment to sustainable innovation and efficiency,” said CEO, Grant Dooley of Breakthrough Victoria. Conflux and this investment is a great testament of the innovations coming out of Australia, and we’re proud to be playing a part in the creation of sustainable jobs in our region and supporting a local company that has solidified its position on the world stage.”

Conflux Technology has built a strong reputation as a category leader while serving a wide range of industries, including motorsports, high-powered industrial machines, hydrogen, e-mobility, defense and more. In addition to the growth and expansion made possible by the latest funding, Conflux is partnering with Odys Aviation to drive development of the next generation of regional VTOL aircraft.

With the combination of Odys’ expertise in hybrid-electric propulsion and Conflux’s cutting-edge manufacturing solutions, the companies aim to create a heat recuperator turbogenerator solution that integrates seamlessly into an existing aerospace turbine and can reduce fuel consumption by over 40%. The solution targets reduced weight and increased efficiency of the turbo generator system. The system is planned for integration in Odys Aviation’s 21 ft wingspan ‘Laila’ aircraft, a plane designed in multiple configurations for cargo, and once deployed, should enable the aircraft to achieve a range of 450 miles with payloads up to 130 pounds.

“Conflux’s additive manufacturing and metal 3D printing technology erase traditional design barriers, allowing us to bring geometrically complex and performance-optimized recuperator designs to life—ultimately resulting in longer-range and higher-payload aircraft. We’re excited to be working with Conflux’s team to redefine the capabilities of VTOL UAS systems.” said James Dorris, Co-Founder and CEO of Odys.

“Next-gen aviation is a key industry for us, and we’re continuing to demonstrate our commitment to helping innovators in this space. We’re proud to be supporting customers like Odys Aviation by providing them with the tools they need to drive advancements in sustainable aviation and power their aircrafts efficiently,” added Fuller.

Conflux Technology is currently addressing $6 billion of the heat exchanger market globally and is excited to expand further through new partnerships and other developments that will be announced in the coming months. The company’s goal is to productize both their heat exchanger designs and the process of manufacturing them so their customers can produce their Conflux heat exchangers locally for quick and efficient production and continued growth will help them achieve that.