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ool Chips plc, founded in 1997, is a publicly traded, European company dedicated to developing and commercializing the Cool Chip™ technology. Cool Chips, which are very small, solid-state heat pumps, are designed to replace conventional compressors virtually everywhere they are used.

Cool Chips plc is a subsidiary of Borealis Exploration Limited. Cool Chips benefits from the patents and other Intellectual Property (IP) developed by Borealis through the worldwide exclusive license of the Cool Chips technology.

Business Model:

Cool Chips plc is focused on the development of the Cool Chips™ technology, and our business model is designed to allow continued dedication to this task. Consequently, though there is lab-scale production of Cool Chips prototypes today, commercial fabrication expected to be split between in-house assembly for specific high-value markets, and sub-contracted assembly for mass markets. Sub-contracting will use the "fabless" model adopted by many major semiconductor design companies.

Cool Chips are being licensed to market leaders in industries ranging from aerospace to white goods, with each industry representing well over $1 billion annually in potential sales. For each of these markets, licenses are expected to be exclusive. For example, if Cool Chips plc licensed the rights to use Cool Chips for domestic freezers to the fictitious "Freezercorp", then only Freezercorp could sell domestic freezers which use Cool Chips.

A licensee could then in turn sub-license to its competitors, if it chose to do so. But the license from Cool Chips means that the technology will not be available to any licensee's competitors unless that licensee decides to make it available.

This model allows every company involved to focus on its core competency. Cool Chips plc focuses on development and optimization of the technology. The manufacturer, which will be drawn from the semiconductor industry, will focus on cost-effective and high-yield manufacture of a single core component. The licensee, meanwhile, continues to do what it does best -- assembling products, distributing, selling and servicing them as it does today.

This model is attractive to Cool Chips plc because revenues will be based on license fees and royalties, allowing us to focus on further development. It is attractive to licensees because they have the opportunity to sell a vastly superior product at a competitive price, often in a market which was previously commoditized. Finally, it is attractive to manufacturers, because it allows them to generate revenue from disused or under-utilized fabrication facilities.

Cool Chips plc

Cool Chips is based in Gibraltar, which is a British Overseas Territory located in Southern Europe. Gibraltar is situated between Spain and Morocco, at the gateway between the Atlantic Ocean and the Mediterranean Sea. Gibraltar has been a member of the European Union since 1973.

Gibraltar is an excellent location for Cool Chips plc. Gibraltar law and accounting standards are based on and closely related to that of English Common Law and UK GAAP (Generally Accepted Accounting Principles). Coupled with these benefits is Gibraltar's tax efficient environment. Cool Chips plans to be highly profitable, and a tax efficient environment will allow our shareholders to maximize the return on their investment.

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