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Cool Chips Press Release Dated 7 Jul 2003



7th July 2003
Cool Chips plc (COLCF)


Cool Chips plc (COLCF) and Rolls-Royce plc have signed a term sheet for a license agreement giving Rolls-Royce exclusive, worldwide rights to use the Cool Chips™ solid-state cooling technology for specific applications across its range of gas turbine products for civil aerospace, defence, marine and energy markets and for specific applications across electrical transmission, conditioning, and distribution.

Cool Chips are wafer-like discs using quantum mechanical electron tunnelling as the primary cooling mechanism. The devices are designed to produce cooling or refrigeration more efficiently than any competing technology, while weighing less than 10% of an equivalent compressor-based system. Cool Chips are modular in design and can be packaged to meet the needs of virtually any heat management application.

Peter Cowley, Rolls-Royce Chief Scientist – Research & Technology, said: "Rolls-Royce is committed to investment in emerging technologies as part of a continuous program for the improvement of efficiency, noise reduction and the lowering of emissions. We are very interested in the potential of Cool Chips.

If Cool Chips is able to deliver what it promises, this technology will revolutionise our electronic heat management systems – for example in our control electronics and for the power electronics which are increasingly used to distribute power around aircraft and ships. ‘More electric’ systems are becoming increasingly important to us as they should allow us to offer our customers reduced operating costs and greater system efficiency.”

Isaiah W. Cox, president of Cool Chips plc, said: "Cool Chips offer a superb solution for heat management issues in advanced engine design, and Rolls-Royce is the perfect partner for implementing the technology across gas turbine markets in every major sector worldwide."


For Cool Chips plc:

Chris Bourne:
+44 (0)208 571 5216

For Rolls-Royce plc:

Gary Atkins:
+44 (0)1332 248389

About Cool Chips plc

Cool Chips plc was formed in 1997 to develop and market the Cool Chip™ -- a wafer-thin disc designed to produce cooling or refrigeration through the use of quantum electron tunnelling across a nanometer-scale gap.

Cool Chips plc (COLCF) based in Gibraltar, is a majority-owned subsidiary of Borealis Exploration Limited (BOREF) and had 7,997,138 shares outstanding at its fiscal year-end, 31 March 2003.

The technology is protected by an extensive portfolio of patents, both issued and pending. More information, including the full text of issued patents, is available on the Cool Chips plc web site at

About Rolls-Royce plc

Rolls-Royce plc is a global company providing power on land, sea and air. The company has established leading positions in civil aerospace, defence, marine and energy markets. It is investing in technology and capability that can be exploited in each of these sectors to create a competitive range of products.

Annual sales total nearly £6 billion, of which over 40 per cent currently comes from aftermarket services. The order book stands at more than £17 billion, which, together with aftermarket demand, provides visibility as to future activity levels. Company website:

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