Overview of enterprises supplying fluorinated liquids for liquid cooling

【Answer 1】 Solvay Group is a multinational chemical corporation headquartered in Brussels, Belgium, founded in 1863 by Belgian chemist Ernest Solvay. Solvay’s products are widely used across numerous industries, with 90% of its sales products ranking among the world’s top three. Solvay holds leading positions in rare earths, silica, engineering plastics, polyamides and intermediates, flavors and functional chemicals, basic chemicals, specialty chemicals, specialty polymers, and emerging biochemistry. Solvay’s primary fluorinated liquid offering is Fomblin YLVAC 25/6—a perfluoropolyether (PFPE) fluid characterized by non-flammability, high-temperature stability, lubricity, no flash point, high dielectric strength, and low surface tension—primarily intended for data center liquid cooling. 03 AGC Inc. AGC Inc., formerly Asahi Glass Co., Ltd., is a Japanese glass manufacturing company and the world’s second-largest glass producer, established in 1907—over a century ago—with Mitsubishi Group as its parent company. AGC Group strives to become a globally outstanding enterprise delivering high profitability and growth, leveraging core technologies in glass and fluorine chemistry to serve as a global materials supplier. AGC’s main fluorinated liquids include the ASAHIKLIN AC and AE series: ASAHIKLIN AC-6000 is an HFC (hydrofluorocarbon), while the ASAHIKLIN AE-3000 series comprises hydrofluoroethers (HFEs), primarily used for immersion liquid cooling, precision cleaning, and electronic equipment cooling. 04 The Chemours Company Chemours is a multinational chemical company holding market leadership positions in titanium technologies, thermal management and specialty solutions, and high-performance materials. Responding to global demand for fluorinated liquids with lower environmental impact, Chemours developed Opteon™ (Opteon™) SF10—a specialized fluorinated liquid. It is a transparent, colorless, non-flammable, thermally stable hydrofluoroolefin (HFO) fluid. Recently, Chemours announced significant progress in the development and production of Opteon™ 2P50—a new heat-transfer fluid designed specifically for two-phase immersion cooling (2-PIC). This proprietary fluid is currently undergoing final manufacturing tests and, pending regulatory approvals, is expected to enter initial commercialization in 2025. 05 Zhejiang Juhua Co., Ltd. Juhua Group’s Technology Center has officially launched its high-performance “JuXin” dedicated cooling liquid, filling a critical domestic gap in high-performance data center cooling fluids. This cooling liquid was developed by Juhua Group’s Technology Center R&D team, drawing on over a decade of accumulated expertise in cooling fluid research and development, culminating in the successful creation of the “JuXin” cooling liquid—specifically engineered for high-performance data center equipment. In August 2021, Zhejiang Chuangfu High-Tech—a subsidiary of Juhua—broke ground on its “5,000-ton-per-year JuXin Cooling Liquid Production Project,” with a total investment of RMB 510 million. The industrialization project employs industry-leading preparation process technologies, delivering significant energy-saving, emission-reduction, and carbon-reduction benefits. Upon completion, the facility will become the world’s largest single-line immersion cooling liquid production unit—both technologically advanced and highest in capacity—capable of effectively meeting domestic demand for immersion cooling liquids.

Liquid Cooling Learning 2 (Critical Understanding: Distinguishing In-Cabinet vs. Out-of-Cabinet Systems)

【Answer 2】 Your perceived bottleneck The real bottleneck Corresponding challenge in the liquid cooling industry "Just needs a minor renovation" Only 3 master chefs exist globally (fewer than five manufacturers worldwide can produce NVIDIA-certified cold plates) Certification bottleneck "Ingredients can be bought anywhere" Only one tuna fishery supplies the premium-grade fish (3M’s exit from fluorinated liquids leaves only 2–3 alternative global suppliers) Material monopoly "Just open more branches" Each branch’s kitchen equipment differs (every hyperscaler’s CDU specifications are unique and non-interchangeable) Customization trap "Hire a few waitstaff" Waitstaff require two years of training before starting work (liquid cooling system installation and commissioning demands highly specialized engineers—globally in severe shortage) Talent bottleneck "Serve customers as soon as they arrive" Customers require a three-month trial tasting first (NVIDIA NPN certification requires 12–18 months of validation) Time barrier Five Key Bottlenecks Explained in Detail Bottleneck One: Certification Barrier—"It’s not that you can’t manufacture it—it’s that NVIDIA won’t let you sell it" Hundreds of CNC machining shops worldwide can fabricate cold plates—but fewer than five have achieved NVIDIA NPN certification (e.g., Cooler Master, CoolIT, AVC, Delta, and select UQD products from Inventec). [trendforce.com] Certification process: Sample submission → Thermal resistance testing at NVIDIA labs → System-level burn-in (72+ hours) → Small-batch validation (500 units) → Formal NPN certification Total duration: 12–18 months Even if your cold plate delivers 10% lower thermal resistance than Cooler Master’s, without NPN certification, NVIDIA’s ODM partners (e.g., Quanta, Foxconn) will not adopt your product—because who bears responsibility if a leak occurs and destroys $3 million worth of GPUs? [computeforecast.com] Bottleneck Two: Material Monopoly—"3M left, and fluorinated liquid supply collapsed" 3M officially ceased production of all Novec-series fluorinated liquids at the end of 2025—the de facto standard coolant for two-phase immersion liquid cooling globally. [alliancechemical.com], [envirotechint.com] Post-exit substitution landscape: Substitution option Supplier Status Key issue Opteon™ HFO Chemours (Chemours) Mass production Still contains PFAS; faces regulatory risks from EU/EPA Galden™ PFPE Solvay Mass production Priced at 2–3× that of Novec Domestic fluorinated liquids Juhua Co., Ltd. Small-batch production Certified by TSMC/Samsung, but limited capacity Non-PFAS alternatives Startups (e.g., FluxZero) R&D phase Not expected to reach commercialization before 2027+ Key fact: Following 3M’s exit, the global two-phase immersion cooling liquid market shifted from "monopolized dominance" to "no viable successor"—Chemours’ and Solvay’s combined capacities amount to less than 60% of 3M’s former output, while demand continues growing at over 50% annually. [global.edgequant.net]

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