+- NanoCoolers has shut its doors

Nanocoolers , the Austin,Texas thermoelectric startup (2002) company with 15 employees founded by form IBM researcher Uttam Ghoshal has closed shop after burning through about US$19M of venture captial and about $3M of Texas state funding as reported by the Austin Statesman.   Krishna Srinivasan of Austin Ventures is quoted as saying "we couldn’t get it up to the performance level that made it fit for the refrigeration business we were talking about." Srinivasan said.  The Statesman goes on to say NanoCoolers hopes to sell the technology to a semiconductor manufacturing company.