Connect with us

Technology

EV Thermal Management Fluid Demand Exceeds 880 million Liters by 2035, IDTechEx Finds

Published

on

BOSTON, June 19, 2024 /PRNewswire/ — Electric vehicles (EVs), much like combustion vehicles, require a suite of fluids in order to operate optimally. However, the quantities and properties of these fluids can be quite different. With a strongly growing EV market, this presents a large opportunity for not just fluid suppliers but also fluid additives and fluid handling component suppliers. The new IDTechEx report, “Thermal Management for Electric Vehicles 2025-2035: Materials, Markets, and Technologies“, predicts that over 880 million Liters of coolant fluids will be required for electric cars in 2035, combining water-glycol, oils, refrigerants, and immersion fluids.

Where is each fluid used?

The drivetrain components (batteries, motors, and power electronics) should be kept in a certain operating temperature range for an EV to operate safely and efficiently. The cabin must also be kept at a comfortable temperature for the occupants.

Water ethylene glycol (WEG) typically forms the backbone of the thermal management system. In most cases, WEG is passed through coolant channels or cold plates in the battery to keep the cells cool or warm them up in cold conditions. It is sometimes used to pass through a jacket around the motor and is typically fed through a heat sink to cool the inverter. It is also used to connect the thermal systems of the drivetrain components with the cabin. The heat from these drivetrain components can often be transferred to the cabin’s thermal management system, reducing the need for separately heating the cabin air and improving efficiency. Due to its ubiquitous use, IDTechEx finds that WEG demand (in terms of volume) will be the largest of EV fluids, with a 6-fold growth in demand from 2023 to 2035.

Oils are commonly used to lubricate vehicle components like the gearbox and transmission. However, in an EV, oil can also be used to cool motor components. As these oils are dielectric, they can be used to make direct contact with parts inside the motor, like the rotor and/or stator windings, improving thermal management and potentially reducing the size of the motor by removing the need for a water jacket around the stator. Oil-cooling electric motors became the dominant motor thermal management strategy in 2022, with approximately 60% of new electric cars sold in 2023 using oil-cooled motors, according to IDTechEx’s research.

Refrigerant is essential to the operation of the air conditioning system for the occupant’s cabin. In some models, refrigerant is also used to cool the battery, which has challenges but can eliminate large portions of the WEG systems needed. This held a small market share in the early EV market, with the BMW i3 taking this approach, but it has seen a resurgence in recent years, with BYD adopting this technology for its e-Platform 3.0 vehicles.

Immersion cooling is an emerging thermal management strategy offering excellent thermal homogeneity, but so far, has remained for high-performance certain off-road vehicles. While IDTechEx predicts growth for this technology, it does not expect it to be the dominant approach in the future.

What is changing with each fluid?

The fluid categories already discussed are already a staple in combustion engine vehicles, but EVs present new demands.

It is common to see WEG products somewhat unchanged between combustion engine vehicles and EVs. However, there has started to be an interest in using low electrical conductivity (<100µS/cm) coolants with early adoption from players such as BYD and Hyundai. This adds an extra level of safety in the case of fluid leaks around electrical components like the battery.

To aid in system simplicity, a single oil that can be used to lubricate gears and cool the motor is required. This presents a challenge in chemical compatibility with copper found in the motor windings, a material that would not have been a focus in a combustion engine’s oil. The key trade-off to be made here is between thermal performance and mechanical properties. Generally, higher viscosities are better for lubrication but poorer for heat transfer. For this reason, fluid suppliers are trying to find a middle ground where viscosity is lower than would have been used in a traditional axle oil to aid in heat transfer but still high enough to keep the wear of the transmission to a minimum.

Refrigerants remain similar between combustion engine vehicles and EVs. The transition here is for the automotive industry as a whole. R134a was the standard, but in Europe, due to its high global warming potential (GWP), it was replaced with R1234yf in all vehicles from 2017 onwards, with other regions following suit. The next big shift is likely to come from the consideration of PFAS (per- and polyfluoroalkyl substances). Although there is no clear regulation or timeline enforcing R1234yf replacement, this hasn’t stopped the development of alternative refrigerants and their associated thermal management components. VW deployed R744-based heat pump systems in certain ID models, and other thermal system suppliers like Hanon Systems have presented both R744 and R290 heat pump systems for EVs.

IDTechEx has further discussion of EV refrigerants in their “Thermal Management for Electric Vehicles 2025-2035: Materials, Markets, and Technologies” report, as well as a deep dive into PFAS compounds and their replacements in their “Per- and Polyfluoroalkyl Substances (PFAS) 2024: Emerging Applications, Alternatives, Regulations” report.

Increasing demand per vehicle

While EV design trends like cell-to-pack and more integrated thermal management modules can decrease fluid intensity per vehicle, a few key trends, on average, are increasing the fluid volume required per vehicle. This includes increasing battery capacities, more vehicles with dual motor options, increasing adoption of oil-cooled motors, and further adoption of heat pump systems. Combining this with an increased EV demand, IDTechEx predicts that over 880 million Liters of coolant fluids will be required for electric cars in 2035.

The new IDTechEx report, “Thermal Management for Electric Vehicles 2025-2035: Materials, Markets, and Technologies”, looks at the thermal management of the battery, motors, power electronics, and cabin, with a deep dive into strategies, components, materials, market shares, and forecasts to 2035.

To find out more about this report, including downloadable sample pages, please visit www.IDTechEx.com/TMEV.

For the full portfolio of thermal management market research from IDTechEx, please visit www.IDTechEx.com/Research/Thermal.

Upcoming free-to-attend webinar

How EV Thermal Management Drives Fluid Demand

Dr James Edmondson, Research Director at IDTechEx and author of this article, will be presenting a free-to-attend webinar on the topic on Thursday 18 July 2024How EV Thermal Management Drives Fluid Demand.

This webinar will cover the following:

EV thermal system architecture and fluids usedBattery thermal management and trendsMotor thermal management and trendsFuture refrigerantsOutlook for fluid content and forecasts

Please click here to check timings and register for your specific time zone.

If you are unable to make the date, please register anyway to receive the links to the on-demand recording (available for a limited time) and webinar slides as soon as they are available.

About IDTechEx 

IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com

Media Contact: 
Charlotte Martin 
Subscriptions Marketing Manager
press@IDTechEx.com 
+44(0)1223 812300 

Social Media Links: 

X: https://www.twitter.com/IDTechEx 
LinkedIn: https://www.linkedin.com/company/idtechex/

Photo – https://mma.prnewswire.com/media/2441842/IDTechEx_Research.jpg
Logo –  https://mma.prnewswire.com/media/478371/IDTechEx_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/ev-thermal-management-fluid-demand-exceeds-880-million-liters-by-2035-idtechex-finds-302175653.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

RSPO Launches New Guidance to Leverage Sustainable Palm Oil Certification for IFRS® Sustainability Disclosure Standards

Published

on

By

KUALA LUMPUR, Malaysia, July 23, 2026 /PRNewswire/ — The Roundtable on Sustainable Palm Oil (RSPO) has released a guidance document, “Leveraging RSPO Principles and Criteria for IFRS® Sustainability Disclosure Standards”. This new resource supports certified sustainable palm oil producers to align their sustainability practices with the IFRS S1 and IFRS S2 disclosure standards that serve as the global framework for reporting sustainability-related financial information.

As more than 30 jurisdictions, representing around 60% of global GDP, move towards adoption of the IFRS Sustainability Disclosure Standards (IFRS SDS), companies are increasingly required to disclose how sustainability-related risks and opportunities affect their financial position and prospects.1

This resource provides a practical pathway for palm oil producers to respond to these requirements by leveraging their existing compliance with the RSPO Principles and Criteria (P&C), without duplicating efforts or creating parallel systems.

Informing investor-relevant disclosures: A four-step approach

Certification and the IFRS SDS serve different purposes. This guidance, developed with support from PwC Malaysia, provides a practical bridge between operational sustainability practices and financial disclosure expectations by helping members translate certification-related topics, metrics, and evidence to inform investor-relevant disclosures.

It sets out a four-step approach to IFRS SDS-aligned reporting, guiding RSPO Members on applicability, reporting boundaries, identification of sustainability-related risks and opportunities, and links to financial performance. It also includes seven practical examples, illustrating how the RSPO P&C requirements and implementation evidence can inform disclosures across key sustainability topics, from ethical conduct and legal compliance to environmental protection and worker health and safety.

Beyond growers, the guidance document also supports financial institutions by helping banks, insurers, and investors understand how palm oil sustainability issues, such as labour disputes and traceability gaps, can translate into financial risks, impacts, and opportunities, enabling clearer risk profiling and more informed financing decisions.

Joseph D’ Cruz, RSPO Chief Executive Officer, said: “As sustainability reporting becomes an integral pillar of financial performance, this guidance bridges certification and disclosure, providing RSPO members with a practical framework to demonstrate sustainability performance in ways that resonate with global capital markets. In line with the growing importance of sustainability disclosures in financing and investment decision-making processes, this guidance illustrates how RSPO Principles and Criteria practices can complement an organisation’s strategy and risk assessment processes.”

Andrew Chan, Partner, Sustainability Leader at PwC Malaysia, said: “This guidance responds to the broader shift towards measuring sustainability through a financial lens, with the adoption of the IFRS Sustainability Disclosure Standards (IFRS S1 and IFRS S2). For RSPO growers, this creates an opportunity to demonstrate how sustainability practices contribute to business resilience as well as value creation — building investor confidence for the long term.”

Importantly, the guidance also reflects RSPO’s longer term interest in progressively strengthening linkages with sustainability disclosure frameworks. As disclosure expectations continue to evolve, RSPO intends to further explore how certification-related data metrics and assurance processes can support broader and more integrated sustainability disclosures in the future.

The Guidance Document can be downloaded here.

For more information, visit www.rspo.org 

About RSPO:
The Roundtable on Sustainable Palm Oil (RSPO) is a global partnership to make palm oil sustainable. Formed in 2004, the RSPO is a multi-stakeholder non-profit organisation that unites members from across the palm oil value chain, including oil palm producers, palm oil processors and traders, consumer goods manufacturers, retailers, banks and investors, environmental or nature conservation non-governmental organisations (NGOs), and social or developmental NGOs.

As a partnership for progress and positive impact, the RSPO facilitates global change to make the production and consumption of palm oil sustainable. To inspire change, we communicate the environmental and social benefits. To make progress, we catalyse collaboration. To provide assurance, we set the standards of certification.

The RSPO is registered as an international association in Zurich, Switzerland, with main offices in Malaysia and Indonesia, and offices in China, Colombia, Netherlands, United Kingdom and the United States. 

About PwC:
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 364,000 people in 136 countries and 137 territories. Across audit and assurance, tax and legal, deals and consulting, we help clients build, accelerate, and sustain momentum. Find out more at www.pwc.com

1

IFRS Foundation, ISSB Podcast February 2025

 

View original content:https://www.prnewswire.com/apac/news-releases/rspo-launches-new-guidance-to-leverage-sustainable-palm-oil-certification-for-ifrs-sustainability-disclosure-standards-302833097.html

SOURCE Roundtable On Sustainable Palm Oil

Continue Reading

Technology

Nordic Capital announces agreement to sell ArisGlobal to Dassault Systèmes, following its transformation into a scaled and AI-enabled life sciences platform

Published

on

By

WALTHAM, Mass., 23 July 2026 /PRNewswire/ — Nordic Capital today announced that it has entered into a definitive agreement to sell ArisGlobal, a leading provider of software to the life sciences industry, to Dassault Systèmes (Euronext Paris: FR0014003TT8) (Paris: DSY.PA). The transaction represents a full exit for Nordic Capital and marks the successful culmination of a partnership that has transformed ArisGlobal into a scaled, cloud-native and AI-enabled platform serving more than 200 life sciences companies, CROs and government health authorities worldwide.

Founded in 1989 and headquartered in Waltham, Massachusetts, ArisGlobal develops and delivers regulatory, safety, and quality software to a global client base that includes many of the world’s largest pharmaceutical and biotech organisations, as well as regulatory authorities. Its flagship LifeSphere® platform is a fully integrated, cloud-native suite that enables life sciences organisations to manage complex regulatory submissions, pharmacovigilance workflows and clinical data on a single platform, improving compliance, speed and operational efficiency. The platform also embeds advanced AI-enabled automation across core pharmacovigilance workflows, reducing manual processing and accelerating safety case management.

“Nordic Capital invested in ArisGlobal because the business had strong fundamentals, a loyal blue-chip client base and significant potential to modernise its technology and scale its commercial reach. Working closely with Aman and his team, Nordic Capital has supported the company’s transformation into a leading cloud-native platform for the life sciences industry with differentiated AI-enabled capabilities and a strengthened market position. Nordic Capital is proud of what has been achieved together with management and looks forward to seeing the company continue to grow under Dassault Systèmes ownership,” said Daniel Berglund, Partner and Head of Healthcare, Nordic Capital Advisors.

Nordic Capital first invested in ArisGlobal in 2019, partnering with the founding family and management team to pursue an ambitious development strategy. In 2021, Nordic Capital made a further investment in the company, reflecting its conviction in ArisGlobal’s growth potential and the progress achieved since the original partnership began. Throughout the ownership period, Nordic Capital worked closely with management to accelerate the SaaS transition, professionalise the go-to-market organisation, broaden the product offering and strengthen the leadership team.

The migration to a modern, cloud-native architecture created the foundation for ArisGlobal to become an early leader in the application of AI to drug safety. A key milestone was the development and launch of NavaX, ArisGlobal’s generative AI solution for safety case processing, which automates and accelerates core pharmacovigilance workflows and has been adopted by a number of the world’s leading pharmaceutical companies. NavaX has further differentiated ArisGlobal’s offering and marked an important step in the Company’s evolution into a broader, AI-enabled safety and regulatory software platform.

“The life sciences industry is at an inflection point as regulatory complexity is increasing, data volumes are growing and our clients need software that can keep pace. The partnership with Nordic Capital gave us the resources and the runway to build exactly that. NavaX and our expanded platform are the result of that ambition, and I am confident we are well placed for what comes next,” said Aman Wasan, CEO, ArisGlobal.

Alongside its technology transformation, ArisGlobal strengthened its management team and commercial organisation, while two strategic acquisitions broadened the Company’s platform capabilities. Today, ArisGlobal serves more than 200 enterprise customers, including half of the world’s top 50 biopharma companies, processes more than 12 million safety cases annually and is expected to generate approximately USD 175 million in revenue in 2026. As rising regulatory complexity and increasing volumes of adverse event reporting continue to drive demand for advanced life sciences software, ArisGlobal is well positioned for future growth through solutions that automate compliance workflows, reduce manual processing and enable organisations to manage regulatory risk more effectively.

The transaction brings together ArisGlobal’s leadership in AI-enabled safety and regulatory software with Dassault Systèmes’ capabilities across research, clinical development and manufacturing. Nordic Capital believes the combination represents a highly compelling strategic fit, pairing complementary capabilities to create a broader, end-to-end offering across the life sciences value chain. ArisGlobal will also benefit from Dassault Systèmes’ global scale, customer reach and investment capacity, providing a strong platform for its next phase of innovation and growth.

The transaction is subject to customary regulatory approvals and is expected to close in the second half of 2026.

Evercore and Jefferies LLC acted as financial advisors to ArisGlobal and Kirkland & Ellis acted as legal advisor to ArisGlobal.

Media contacts:

Nordic Capital
Katarina Janerud
Communications Manager, Nordic Capital Advisors
+46 8 440 50 50
katarina.janerud@nordiccapital.com

ArisGlobal
Morgan Scott
Vice President, Marketing & Communications and Chief of Staff
mscott@arisglobal.com

About ArisGlobal

ArisGlobal is a leading provider of software to the life sciences industry. Its LifeSphere® platform delivers integrated regulatory, safety, and quality solutions to more than 200 life sciences companies, CROs and government health authorities worldwide. Founded in 1989 and headquartered in Waltham, Massachusetts, ArisGlobal combines deep domain expertise with advanced technology to help clients improve compliance, accelerate development cycles and manage regulatory complexity at global scale. For more information, visit www.arisglobal.com.

About Nordic Capital

Nordic Capital is a leading international private equity investor and subsector specialist dedicated to building stronger, more resilient businesses through transformative, long-term growth in partnership with management teams. With over 35 years of experience, Nordic Capital currently manages approximately EUR 39 billion in assets, investing in middle-market companies across Northern Europe and North America. Rooted in its Nordic heritage and values, it combines global reach with local presence through dedicated sector investment advisory teams, bringing deep expertise across its core sectors: Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Through active ownership, strong operational capabilities, a global network of experts and technology-enabled transformation, Nordic Capital helps companies scale, innovate and become sustainable leaders. For more information, visit www.nordiccapital.com or connect on LinkedIn.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nordic-capital/r/nordic-capital-announces-agreement-to-sell-arisglobal-to-dassault-systemes–following-its-transforma,c4376982

The following files are available for download:

 

View original content:https://www.prnewswire.co.uk/news-releases/nordic-capital-announces-agreement-to-sell-arisglobal-to-dassault-systemes-following-its-transformation-into-a-scaled-and-ai-enabled-life-sciences-platform-302833100.html

Continue Reading

Technology

Cognizant and Gulf Edge Announce Strategic Partnership to Accelerate Enterprise AI Adoption in Southeast Asia

Published

on

By

Partnership combines Cognizant’s global AI engineering capabilities with Gulf Edge’s sovereign digital infrastructure to capture the region’s growing demand for secure, scalable AI solutions.

BANGKOK, July 23, 2026 /PRNewswire/ — Cognizant (Nasdaq: CTSH), a leading AI builder and global technology services provider, and Gulf Edge Company Limited, the digital infrastructure arm of Thai energy and infrastructure conglomerate Gulf Development Public Company Limited (GULF) or Gulf Group, today announced a landmark strategic partnership. The alliance is designed to accelerate enterprise AI adoption and establish a resilient, AI-native digital economy in Thailand and the broader region.

As artificial intelligence (AI) rapidly reshapes industries, economies, and societies worldwide, the partnership aims to establish the foundational ecosystem needed to enable Thailand’s next phase of digital transformation. By combining trusted sovereign digital infrastructure with world-class AI engineering and enterprise transformation capabilities, Gulf Edge and Cognizant will help organizations deploy AI securely, responsibly, and at scale.

The collaboration brings together Gulf Edge’s leadership in digital infrastructure, energy, cloud, and strategic relationships across Thailand’s most important industries with Cognizant’s global expertise in AI, digital engineering, cloud modernization, data, and intelligent operations. Together, the two companies will deliver end-to-end AI capabilities spanning infrastructure, AI platforms, enterprise solutions, systems integration, and managed services.

The partnership will initially focus on accelerating AI adoption across key sectors including banking and financial services, energy and utilities, healthcare, telecommunications, manufacturing, and the public sector. Through industry-specific AI solutions, organizations will be able to improve operational efficiency, enhance customer experience, strengthen decision-making, automate complex business processes, and unlock new opportunities for innovation and growth.

Beyond enterprise transformation, Gulf Edge and Cognizant share a broader ambition of strengthening Thailand’s position as a regional AI hub. The partnership is expected to attract global technology expertise, stimulate investment in advanced digital capabilities, and create high-value employment opportunities across AI engineering, data science, cloud infrastructure, cybersecurity, and digital transformation. The two companies also plan to collaborate with universities, research institutions, technology partners, and public-sector organizations to develop AI talent, promote responsible AI adoption, and foster a sustainable innovation ecosystem for the country.

Mr. Sarath Ratanavadi, Chief Executive Officer, Gulf Development Public Company Limited, said, “Our partnership with Cognizant marks an important milestone in our vision of helping Thailand become an AI-native economy. By combining Gulf Edge’s strengths in digital infrastructure, energy, cloud, and deep understanding of the Thai market with Cognizant’s global expertise in enterprise AI, digital engineering, and transformation services, we are creating a comprehensive platform that enables organizations to adopt AI with confidence and generate measurable business outcomes. Together, we will develop secure, resilient, and future-ready sovereign digital infrastructure while delivering industry-specific AI solutions tailored to the needs of Thai enterprises and public institutions. We believe AI has the potential to transform every sector, creating new opportunities for productivity, innovation, and sustainable economic growth.”

Mr. Ganesh Ayyar, President of Asia Pacific & Japan (APJ), Cognizant, said, “As Thailand works toward its ambition of becoming an AI-native economy, we see this partnership as a meaningful way to help contribute to that vision, not just through the projects we deliver, but by building lasting AI and technology capability inside the country. With Gulf Edge’s market reach and Cognizant’s AI Builder strategy and global delivery capability, we are positioned to deliver transformative outcomes for Thai enterprises across every major sector.”

About Gulf Edge
Gulf Edge Company Limited is the digital infrastructure arm of Gulf Development Public Company Limited, Thailand’s leading energy and infrastructure conglomerate. Gulf Edge is building a robust digital ecosystem, spanning data centers, cloud services, satellite technology, and AI infrastructure, to accelerate Thailand’s digital transformation and position the country as a regional hub for the AI economy.

About Cognizant
Cognizant (NASDAQ: CTSH) is an AI Builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for clients. Its deep industry, process, and engineering expertise enables it to build an organization’s unique context into technology systems that amplify human potential, realize tangible returns, and keep global enterprises ahead in a fast-changing world. See how at www.cognizant.ai or @cognizant.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/cognizant-and-gulf-edge-announce-strategic-partnership-to-accelerate-enterprise-ai-adoption-in-southeast-asia-302833116.html

SOURCE Gulf Development Public Company Limited (GULF)

Continue Reading

Trending