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Cool Chips Passes Technical Milestone: On Track for Production

Business Wire; Aug 12, 2002

/High Tech Writers GIBRALTAR--(BUSINESS WIRE)--Aug. 12, 2002--Cool Chips plc (COLCF) is pleased to announce that its labs are now producing Cool Chip prototypes which have active tunneling areas of up to 10% of the surface area of each device. This is a significant technical achievement as it demonstrates that it is possible to repeatedly fabricate a vacuum gap of only a few nanometers across a macroscopic surface of several square centimetres. Tunneling currents in excess of 10A have been observed in laboratory testing. "This technical achievement means that the single biggest technical challenge for completing working devices is demonstrably solvable." said Cool Chips President Isaiah Cox. "While we are not yet demonstrating high output devices, all the rest of the development stages are engineering, and can in principle be completed within a few months." Cool Chips(TM) are wafer-thin discs designed to produce cooling or refrigeration more efficiently than any competing technology, using quantum mechanical electron tunneling as the primary cooling mechanism. The Cool Chip(TM) is one of the first transformative technologies to emerge from the nanotechnology revolution. Because of the inherent advantages in cooling across a gap using electron tunneling, Cool Chips are projected to attain efficiencies much higher than those available in current cooling systems. The Chips are less than 10% of the size and weight of compressors. Cool Chips are modular, and can be packaged in arrays to cool virtually any size heat load. The remaining steps for completing Cool Chips, and getting them ready for the marketplace include optimizing the gap to maximize tunneling, and then adding a thin film layer within the diode. Once that layer has been added, measurable cooling will be demonstrated. "We have been working on thermotunneling since 1997," said Mr. Cox, "and the production of commercially viable Cool Chips is now in sight". Cool Chips is planning to licence its patented technology on an exclusive basis. "Cool Chips(TM) will be available only through licensee companies" said Mr Cox. "It is our intention to grant exclusive licenses to companies to use this technology in applications for defined markets." Cool Chips will be presenting the most recent results in detail in a paper at the 21st International Conference on Thermoelectrics August 25-29, 2002, to be held at the Hyatt Regency Hotel, Long Beach, California, USA. The paper, by Cool Chips physicist Avtandil Tavkhelidze and co-authors Givi Skhiladze, Amiran Bibilashvili, Leri Tsakadze, Larisa Jangadze, Zaza Taliashvili, Isaiah Cox, Zauri Berishvili, and titled "Electron Tunneling Through Large Area Vacuum Gaps -- Preliminary Results" will be presented by Dr. Tavkhelidze on Monday 26th August at 5pm. The technology is protected by an extensive patent portfolio covering general theory and specific techniques for thermotunneling and thermal energy conversion. More details are available on the Cool Chips plc web site at including the full text of issued patents. Cool Chips plc (COLCF) is a majority-owned subsidiary of Borealis Exploration Limited (BOREF) and has 7,365,460 shares outstanding as of 31 March 2002. Borealis Exploration Limited has 4,982,605 shares outstanding as of 31 March 2002. Both companies are based in Gibraltar. Borealis' business is reinventing the core technologies used by basic industries, including electric motors, steelmaking, electrical power generation, and cooling and thermal management.

CONTACT: Cool Chips plc
Chris Bourne, +44 20 8571 5216

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