STAC Technology, a Danish company registered in Hellerup, proposed to cool buildings with water as the refrigerant. Its DEOS system compresses water vapour in a turbo-compressor to freeze part of the water into a pumpable ice slurry that can carry far more cooling through a district network than chilled water.
The European Innovation Council granted €2,469,289 towards a €3.53 million project, which ran from July 2022 to June 2024. On 21 May 2024, a month before the project was due to end, the Maritime and Commercial Court in Copenhagen issued a bankruptcy decree against STAC Technology ApS, according to Danish insolvency notices published by Auktioner.dk and Maskinteknik. CORDIS still lists the project as signed rather than closed and publishes no results, and the company's website no longer resolves.
Company file
- Legal entity
- STAC Technology ApS, CVR 37988952, Hellerup, Denmark
- Technology
- Water vapour turbo-compression making ice slurry for cooling
- Target market
- District cooling networks at megawatt scale
- Website
- stactechnology.com, not resolving in September 2026
- Status
- Bankrupt; decree of 21 May 2024, Maritime and Commercial Court
- EIC project
- DEOS, 1 Jul 2022 to 30 Jun 2024
- CORDIS status
- Signed; no results published
- EIC funding
- Blended finance
What Happened to STAC Technology
STAC Technology ApS, CVR 37988952, was declared bankrupt by a decree of the Maritime and Commercial Court dated 21 May 2024 and published in the Danish State Gazette on 23 May 2024, according to Auktioner.dk, which lists the insolvency notices. A notice calling creditors to a review of claims followed in September 2025. We found no public statement from the company about the bankruptcy, and no press coverage, product announcement, customer or funding round. Its web domain does not resolve, and CORDIS still shows the project as "signed" rather than "closed", with no periodic report.
The Technology: Water as the Refrigerant
Water is an excellent refrigerant in principle, non-toxic and with no climate impact, but at the low pressures needed to make it boil for cooling, its vapour takes up enormous volume, which requires special compressors. STAC's DEOS used a turbo-compressor for this. Its product, according to the CORDIS fact sheet, is "a pumpable ice slurry" for district cooling, which the project said offers "7x the cooling capacity of existing solutions", a 40% cut in greenhouse gas emissions, and energy savings of 10% against ammonia cooling and 62% against HFC air conditioning units.
"A breakthrough system that can solve a major sustainability issue surrounding the future of space cooling."
DEOS project description, CORDISWhat the EIC Project Promised, and What CORDIS Shows
The project promised to develop the system towards megawatt-scale district cooling. CORDIS shows the budget, dates and objective, with the grant agreement signed in October 2022, three months after the official start. No deliverables, prototype results, pilot installations or customers are published.
- A working DEOS systemUnknownNo results published.
- District cooling pilotUnknownNo pilot announced.
- Measured energy and emission savingsUnknownClaims only.
- A company that continuesMissedBankrupt, May 2024.
What Has Happened Since the Award
The Money
The award was blended finance. We found no record of an EIC Fund investment or any private funding round.
What cannot be checked
Whether the DEOS system was built and tested, why the company went bankrupt, how much of the grant was paid and whether the EIC equity was invested are not public in any source we could access. The EU holds the project reports and should publish their results.
Why Europe Should Care
The EIC funded a water-based cooling system for district networks. The company went bankrupt before the project ended, and the public still cannot tell what, if anything, the €2.47 million produced.
What the project promised
A breakthrough water vapour driven turbo-compression cooling system for sustainable district cooling.
What the record shows
No published results and a bankruptcy decree a month before the project's end.
The Verdict
Bankrupt, and no trace of results
STAC Technology was declared bankrupt in May 2024, before its EIC project ended. There is no public evidence of what the project delivered: no report, no pilot and no product. CORDIS still does not mark the project as closed.
STAC Technology is bankrupt and could not be contacted for this article. It is based entirely on EU project data and Danish insolvency notices, linked throughout.
