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The company specializing in heat pipe cooling systems hopes to sign several partnerships in the near future, targeting electronics, automotive, and defense.

Temperature regulation has become essential across many sectors to ensure equipment works properly and components last longer. “But today, these electronic devices are limited in their development by the heat released as they become more powerful,” observes Olivier de Laet, Head of Strategy at Calyos. “Why? Because these systems are generally cooled by air, which is not a conductor but an insulator. It’s therefore not efficient. This is why our two-phase technology is so valuable, it consumes less, has a better heat absorption capacity than air and water, and at the same time will not cause damage in case of a leak, because we use a dielectric fluid.”

After years of development and small-scale production, Calyos now considers itself ready to offer its technology across numerous industrial sectors. The SME, located in Jumet, hopes to secure partnerships soon and, perhaps, replicate the success of EHP, the Nivelles-based company from which it originated, now a 100-employee tech gem and a subsidiary of Airbus Defense & Space.

A pump-free technology

Launched in 2012, the Charleroi-based company developed specific thermal transfer cooling solutions that allow the passive dissipation of heat from components using the latent heat of vaporization. Operating without pumps and requiring no maintenance, this technology, based on heat pipes, closed systems that transfer excess heat, reduces the energy consumption associated with cooling while providing reliable performance.

Heat pipes are central to EHP’s success, used in satellites and spacecraft. Calyos, on the other hand, was created for terrestrial applications, which require specific adaptations, including the fluid used in the pipes. “Moving from a system that works in zero gravity to a system that works with gravity is still quite a leap,” notes Olivier de Laet, explaining that Airbus was initially only interested in the space activity.

While the technology has been adapted, the business models differ. The markets targeted by Calyos are generally much larger than those of EHP. “Our systems can be used in very diverse industrial sectors: automotive batteries, embedded electronics, data centers, computers. Most of the time we’re talking about very large series,” Olivier de Laet emphasizes.

Licensed manufacturing

Calyos relies on partnerships to scale industrial production, especially since these are new technologies. “It has to work perfectly. If we lack credibility on the industrial side, it won’t work. A small company like Calyos, on its own, cannot break into international supply chains,” says Olivier de Laet.

The company has already signed a licensed manufacturing agreement with the Austrian PC cooling specialist Noctua and hopes to enter the automotive, energy, metallurgy, and defense sectors. In defense, it was recently selected for NATO’s prestigious Diana program, which fosters dual-use breakthrough technologies. “Diana will help us commercialize. We are particularly eyeing drones,” explains CEO Antoine de Ryckel, adding that Calyos has already supplied small series for key military players in Belgium and Europe.

Calyos offers a range of products in several versions. About 10% are already in series production, 60% at the prototyping stage, and 30% at proof-of-concept. “Our transition to series production will take place over the next 18 months,” says Antoine de Ryckel. “Our challenge is to combine market demands and develop them so they take off, while at the same time having the production tools in-house ready to go.”

An impact-driven company

Among the company’s shareholders are SFPIM, Sambrinvest, Fidic, the Flemish investors Finindus, PMV, and a family office. “The latter are in it for the long term, because they see us as an impact-driven company,” says Antoine de Ryckel. The 21-employee company generates €2.5 million in revenue, including innovation subsidies, and hopes to reach operational profitability by the end of the year if key contracts materialize. At that point, various options, including fundraising and major partnerships, will be explored.

↘︎ Read the related article in L’Echo by Olivier Gosset for additional perspectives and insights.

Selected for NATO’s 2026 DIANA program, Calyos is ready to shake up industrial cooling, and the defense ecosystem. Ready to accelerate your venture into industry & defense markets?