INDUSTRY

Asetek says its fourth quarter revenues were down 25 percent from a year earlier to $4.6 million. Total revenues for 2014 were flat at $20.8 million.  

Asetek expects strong quarter-on-quarter revenue growth for the first and second quarter of 2015, mainly driven by the release of its Generation 5 platform of products.

During 2014, Asetek continued to invest in its growth strategy targeting large-scale adoption of liquid cooling of data centers.

In February 2015, The California Energy Commission selected Asetek for a $3.5 million project to install RackCDU liquid cooling in two data centers. 

Intellectual property is a key part of Asetek’s growth platform. In December 2014, the U.S. District Court unanimously ruled in favor of Asetek on all claims in its patent infringement lawsuit against CMI USA, Inc and in February 2015, the patent case with CoolIT Systems Inc. (“CoolIT”) was settled.

“We spent 2014 building momentum with continued data center and IP investments, and achieved progress with existing and potential partners. We are very pleased that our strategic efforts over the last couple of years are yielding results. When we now strengthen our balance sheet, we are preparing for accelerated growth with data center volume ramp-up and further partnering with top tier OEMs” said André Sloth Eriksen, founder and CEO of Asetek.