Modine announced that it had purchased the intellectual property and other specific assets of TMG Core, a specialist in single- and two-phase liquid immersion cooling technology for data centers with high-density computing requirements. This investment positions Modine to capture share in the rapidly developing data center liquid cooling market, which analysts forecast to reach $7.8 billion by 2028. Liquid immersion cooling involves submerging IT servers in tanks filled with non-conductive fluid that dissipates the heat generated by the IT load.

This process enables increased computing density in a sealed environment and supports reduced energy and water consumption, along with the potential for heat reclaim. Liquid immersion cooling also serves edge data center applications where data processing must be closer to the source to reduce latency, such as in autonomous vehicles.