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Cool Chips Press Release Dated 14 April 2004


Cool Chips plc
Gibraltar, 14 April 2004

Refers to: COLCF, BOREF

Cool Chips plc (COLCF) announced today that it has acquired a facility for prototype production of the core component of its proprietary cooling technology, Cool Chips™ and that the facility is now operational.

The new facility includes an automated vacuum deposition evaporator used for metallization in wafer fabrication, allowing a forty-fold increase in production capacity of wafer sandwiches where the electrodes that form the two halves of the sandwich are separated by a gap of less than 10 nanometers.

The prototype production facility enables greatly increased production of sandwiches for further development and testing, as well as initial production for high-value defence and aerospace applications.

The Company's development team reported last month that it is meeting targets for the manufacture of quantum thermotunneling devices capable of pumping 3-5 Watts of heat across a surface area of one square centimeter. The devices demonstrate work functions of 0.9 eV (electron volt) or better. The lower the work function, the easier it is for electrons to pass across the gap, carrying heat from one side of the device to the other. More than 90% of the sandwiches currently being produced show the required characteristics. The Company is actively addressing remaining production and packaging issues.

Cool Chips plc President Isaiah W. Cox said: "The ability to reliably produce the core sandwich in good quantities is an important step towards the goal of manufacturing working Cool Chips that can be packaged and sold for a variety of high-value applications."

The Cool Chips technology is based on principles of quantum mechanics by which electrons "tunnel" across a small gap of less than 10 nanometers, carrying heat with them in the form of kinetic energy.

The gap acts as an efficient insulator, so heat cannot flow back to its source. This insulating characteristic makes Cool Chips potentially much more efficient than other cooling technologies, including conventional compressors. Full details are available on the Cool Chips plc web site at together with the text of all issued patents.

Work on Cool Chips began in 1996 and has required several advances in nano-engineering, including the invention of electrodes with conformal surfaces and a gap of less than 10 nanometers, as well as the reduction in work function.

Cool Chips are expected to have thousands of applications ranging from aerospace to electronics cooling and will increase the versatility and availability of cooling, refrigeration, and air conditioning worldwide.

For further information contact:

Chris Bourne: +44 (0)20 8571 5216

About Cool Chips plc

Cool Chips plc was formed in 1996 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 approximately 8,250,000 shares outstanding at 31 December 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

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