Coolcore LLC Finalizes Purchase Of Tempnology Assets
PORTSMOUTH, N.H. (Jan. 05, 2016) – Coolcore LLC (DBA Coolcore), the global leader in thermoregulation fabrics, announced it acquired substantially all assets and intellectual property from Tempnology on December 18, 2015. Tempnology had filed for bankruptcy on September 1, 2015. Coolcore LLC will retain all existing Tempnology employees and has plans to add additional staff in 2016.
“Today is an exciting day and new beginning for our industry-leading material innovation company,” stated Mark Stebbins, the lead investor in Coolcore LLC. “We’re thrilled to provide financial commitment that will propel Coolcore into its next phase of growth.”
Tempnology recently won the award for “Best Innovation – Sports and Outdoor Apparel” for its patented line of cooling fabrics from the ITMA Future Materials Awards. In addition to the award for “Best Innovation”, Coolcore was named a finalist in the “Groundbreaking Partnership” category for its collaboration marketing launch programs.
Tempnology’s fabric formulations have also earned the prestigious “Innovative Technology” recognition from the Hohenstein Institute, a first for a U.S. company, and the only company globally to be awarded this recognition for “Cooling Power.” The award-winning fabrics are supported by two current patents and several other pending ones.
“Mr. Stebbins and his investment group have provided crucial support for our growing company as we have established ourselves as a leader in the marketplace,” stated Kevin McCarthy, President and CEO of Coolcore. “The future at Coolcore is very bright with our recent awards and patents and continuous development in the fast-growing thermoregulation apparel category.”
Through the sale, Coolcore obtained several partnerships with global consumer brands such as Brooks, Cabelas, Disney, Imperial Headwear, and LL Bean, to develop and commercialize thermoregulation performance fabrics. Additionally, Coolcore intends to continue distributing to several global distribution partners who sell finished goods including accessories, towels, medical wraps and sports medicine products under the Coolcore and Dr. Cool brand names.
About Coolcore LLC
Coolcore, the global leader in thermoregulation fabrics, has partnerships to develop fabrics for consumer brands throughout the world. The patented, chemical-free Coolcore materials deliver three distinct functions — wicking, moisture circulation and regulated evaporation — going far beyond traditional moisture-management textiles by managing thermoregulation and reducing surface fabric temperature up to 30 percent lower than skin temp when moisture is present. Coolcore fabric formulations have earned the prestigious “Innovative Technology” recognition from the Hohenstein Institute, a first for a U.S. company, and the only company globally to be awarded this recognition for “Cooling Power.” Coolcore recently won the award for “Best Innovation – Sports and Outdoor Apparel” for its patented line of cooling fabrics from the ITMA Future Materials Awards.