Google Backs Envicool: A Comprehensive Overview of 10 Core Liquid Cooling Companies

Breaking News: Google's Next-Gen TPUv7 Single Chip Hits 980W Power Consumption, a True 'Power Guzzler'!With the soaring power consumption, there's no turning back for rack cooling anymore – a full switch to 100% all-liquid cooling architecture has become a must!

This is by no means a minor upgrade; it signifies that liquid cooling technology has evolved from an 'optional configuration' for AI computing hardware to a 'mandatory standard' for the ASIC camp, completely reshaping the industry landscape!

What's more crucial is that Google has already taken action!

This week, we made a special trip to visit and audit Invicool, a leading company in liquid cooling. We focused on two core components: CDU (Cooling Distribution Unit) and quick connectors. A large order is already on the horizon, and the market estimates that this single order will correspond to an output value of 2 to 3 billion yuan!

This article will comprehensively sort out the liquid cooling industry chain and clarify 10 core companies.

1. What is liquid cooling?

Liquid cooling refers to using liquids instead of air for cooling, which helps reduce the temperature of servers in data centers and ensures the servers operate within a safe range. Simply put, liquid cooling is 'cooling servers with liquids'.

2. Why is liquid cooling needed?

Nowadays, the computing power demand of data centers is growing more and more rapidly, and the power of servers is becoming increasingly high. It's just like how we used to cool down computers with small fans before—now we need high-power cooling systems, as small fans simply can't handle the heat anymore!

Compared with air cooling, liquid cooling offers advantages such as higher heat dissipation efficiency, lower energy consumption, reduced noise, and lower total costs, and has gradually become the standard configuration for data centers in North America.

Take NVIDIA's data as an example: A 50-megawatt hyperscale data center using the liquid-cooled GB200 NVL72 system can save over 4 million U.S. dollars a year! That's by no means a small sum of money!

In terms of market space, according to data from the China Academy of Information and Communications Technology (CAICT), the market size of liquid cooling for intelligent computing centers in China reached 18.4 billion yuan in 2024, representing a year-on-year growth of 66%. It is projected to further expand to 130 billion yuan by 2029. This is not just a small market trend, but a large track that is about to see explosive growth!

3. Liquid Cooling Industry Chain1）

The contact forms of liquid cooling are divided into two major categories: direct contact (immersion type, spray type) and indirect contact (single-phase cold plate type, two-phase cold plate type)

The liquid cooling industry chain can be divided into multiple components, including coolant, Cooling Distribution Unit (CDU), quick connector, cold plate, main circulation water pump, and pipeline.

1）Heat dissipation medium：also known as cooling fluid, is equivalent to a 'special cooling agent'. It must have high thermal conductivity, be non-corrosive to servers, and be environmentally friendly, which means it has a high technical threshold.

2）Key Component CDU：Known as the 'heart' of liquid cooling systems, it is responsible for distributing cooling capacity and facilitating circulation, with extremely high technical requirements. This is exactly the component that Google intends to purchase this time.

3）Cold Plate：The 'cooling patch' attached directly to the chip comes into direct contact with the server chip and must have high thermal conductivity. It is a core component of the liquid cooling system.

4）Quick Coupling：The 'quick-connect fitting' for coolant must be leak-proof and resistant to repeated plugging and unplugging.

5）Main Circulating Water Pump and Piping：It is equivalent to the 'blood circulatory system', which transfers heat from the chip to the cooling device.

4. 10 Core Companies in Liquid Cooling

The first one: Envicool

Company Business：The company focuses on four core product lines: computer room temperature control and energy conservation, cabinet temperature control and energy conservation, bus air conditioning, and rail transit train air conditioning & services. It covers temperature control needs across multiple scenarios such as data centers, energy storage power stations, and communication base stations.

Company Highlights：The company has established stable cooperative relationships with major domestic manufacturers such as Tencent, Alibaba, Baidu, and ByteDance. It has continued to make breakthroughs in the North American market, with high certainty of cooperation with NVIDIA (NV) and Meta. Additionally, the company is expected to onboard partners including Google, AWS, and OpenAI.

The second one: Yidong Electronics

Company Business：The company is mainly engaged in the R&D, production and sales of precision electronic components such as Flexible Printed Circuits (FPC), connectors and their accessories, and LED backlight modules. Its products are applied in various industries including consumer electronics, communication, new energy, etc.

Company Highlights：The company has already achieved mass production and shipment of liquid cooling heat dissipation structural components and heat dissipation modules. It continues to intensify efforts to expand cooperation with North American ASIC (Application-Specific Integrated Circuit) clients such as Google and Meta. Meanwhile, it has made breakthroughs in business cooperation with Alibaba and ByteDance, and is expected to secure major orders in the future.

The third one: Feilong Co., Ltd.

Company Business：The company mainly engages in the R&D, production and sales of the following core products.Key components for automotive engine thermal management.Energy-saving and emission-reduction components for automotive engine thermal management.Thermal management components for new energy vehicles.Thermal management components in the liquid cooling field (including electronic water pumps and temperature control valves)

Company Highlights: Core supplier of CDU liquid cooling pumps, with major clients including Envicool and Delta Electronics.

The fourth one: Siquan New Materials

Company Business:The company mainly engages in thermal conductive and heat dissipation materials, such as graphite rolls, thermal grease, heat pipes, vapor chambers (VC), etc.

Company Highlights:The company's liquid cooling products (such as liquid cold plates, liquid cooling modules, etc.) have entered the verification or small-batch supply phase with leading server manufacturers and Internet companies, and are on the eve of mass production explosion.

The fifth one: Kechuang Xinyuan

Company Business: The company mainly engages in polymer materials and thermal management business.

Company Highlights:The company plans to acquire a 51% equity stake in Dongguan Zhaoke, whose main products are thermal interface materials (TIMs). It supplies well-known clients such as Foxconn, Delta Electronics, and Qisheng Electronics.

The sixth one: Huaguang New Materials Co., Ltd.

Company Business:The company has long been committed to the research and development of brazing technology and the manufacturing of high-quality brazing materials. Brazing materials are consumables used in the production process of downstream industries, and the company acts as a secondary supplier in the field of liquid-cooled servers for computing power.

Company Highlight: The company is accelerating the connection with Taiwan-based liquid cold plate manufacturers and preparing for the testing work of relevant brazing filler metal products.

The seventh one: Shenling Environment

Company Business:With 25 years of in-depth experience in the environmental control equipment industry, the company mainly provides products for four major scenarios: data services, industrial processes, professional specialties, and public & commercial buildings.

Company Highlights:The company's products and solutions cover the entire domestic data center thermal management chain for both air-cooled and liquid-cooled systems, with customers in Southeast Asia and North America in overseas markets.

The eighth one: Gaolan Co., Ltd.

Company Business: The company is a leader in UHV pure water cooling equipment, with its customers covering leading enterprises in various application fields.

Company Highlights: The company can provide core components such as liquid cold plates, fluid connection parts, CDU (Cooling Distribution Unit), TANK, and heat exchange units.

The ninth one: Tongfei Co., Ltd.

Company Business:As a leading enterprise in China's industrial temperature control equipment sector, the company has expanded its business into multiple fields, including energy storage temperature control, industrial equipment temperature control, and data center temperature control.

 Company Highlights:The company has launched a full set of solutions for cold plate liquid cooling and immersion liquid cooling, covering a complete range of products including CDUs (Cooling Distribution Units), prefabricated pipelines, integrated cooling stations, and immersion liquid cooling enclosures.

The tenth one: Jiayida Fluid

Company Business:The company provides secondary-side ring network connectors, covering the entire closed loop from manifolds to liquid-cooled hose assemblies, then to interlocked ball valves, and finally to the secondary-side ring network. Additionally, it can offer liquid cooling solutions tailored to customer needs.

Company Highlights:As the first domestic manufacturer of double interlocking ball valves, the company has successfully applied its self-developed FF9 interlocking ball valves in multiple domestic projects. This product is fully capable of replacing FD83 interlocking ball valves as a high-performance alternative.

———Disclaimer: The content of this article is solely intended to convey additional information and is for educational reference only.