Key Players
Competitive Landscape
The two-phase direct-to-chip non-condensable gas removal systems market draws three supplier categories spanning cooling platforms plus server integration and refrigerant-loop or dielectric-fluid components. Factory-integrated server designs began changing competition during 2025 as public qualification programs moved two-phase cooling into production-ready configurations.
The shift toward deployment capital became visible in November 2025 when ZutaCore and EGIL Wings announced a 15 MW AI Vault collaboration. Accelsius then closed a USD 65 million Series B in January 2026 to expand two-phase direct-to-chip production and global deployment capacity. Investment now follows manufacturing scale and field validation instead of stand-alone thermal demonstrations or isolated proofs.
Company developments mapped to drivers, trends and opportunities (2025-2026)
| Development | Driver | Trend | Opportunity |
|---|---|---|---|
| July 2026: Accelsius announced independent benchmark results covering roughly 40,000 operating points for NeuCool. | Hyperscale engineering teams require high-temperature evidence before approving two-phase reference designs for dense AI racks. | Independent thermal benchmarking is becoming part of platform qualification before large AI deployments. | Validated warm-water performance can shorten engineering review for high-density direct-to-chip programs. |
| June 2026: ZutaCore announced a USD 100M+ Series C and disclosed more than 75 deployments worldwide. | Large AI programs need cooling companies with field support beyond laboratory-scale two-phase demonstrations. | Capital and field experience are concentrating in two-phase platforms with international reference sites. | Expansion funding supports commercial teams and validation capacity for megawatt-class two-phase projects. |
| February 2026: Chemours and 2CRSi signed a joint development agreement after successful two-phase fluid qualification. | Server manufacturers require verified fluid compatibility before accepting new two-phase cooling configurations. | Fluid companies are moving closer to server qualification instead of selling chemistry without system validation. | Joint qualification supports fluid sales and interface-engineering work tied to new server platforms. |
ASRock Rack, Foxconn, Compal Electronics, Parker Hannifin and Valeo compete outside this table through server integration plus loop hardware and heat-reuse interfaces that shape NCG-control compatibility.
Source: Future Market Insights, Two-Phase Direct-to-Chip Non-Condensable Gas Removal Systems Market and AI Datacenter Liquid Cooling Market Reports, 2026-2036.
Together these companies cover host cooling platforms plus server integration and refrigerant interfaces that determine whether NCG-control hardware can enter a qualified system.
Who leads the two-phase direct-to-chip non-condensable gas removal systems market?
Accelsius and ZutaCore hold the strongest direct positions because each company owns a two-phase direct-to-chip platform and controls refrigerant architecture decisions.
Which suppliers have documented qualification or quality approvals?
Foxconn documented NVIDIA NVQual within its SoftBank rack program while Chemours documented server-fluid qualification with 2CRSi before their development agreement.
Which companies provide rack and loop integration products?
ASRock Rack and Compal Electronics integrate ZutaCore cooling into AI servers while Parker Hannifin and Valeo supply loop or heat-reuse hardware.
Which suppliers serve North America and Asia-Pacific?
ZutaCore operates in both regions while ASRock Rack, Foxconn and Compal Electronics support international server programs that reach those deployment markets.
Representative Company Overview
| Company | Positioning | Verified Development |
|---|---|---|
| Accelsius | Two-phase direct-to-chip platform developer with rack and row cooling architectures. | In October 2025, introduced NeuCool MR250 general availability with 250 kW cooling capacity per rack. |
| ZutaCore | Waterless two-phase direct-to-chip platform developer serving AI and HPC deployments. | In October 2025, launched an ASRock Rack NVIDIA HGX B300 server with factory-integrated HyperCool cooling. |
| Parker Hannifin | Refrigerant-loop component and instrumentation company active in data-center liquid cooling. | In July 2026, launched the SCVOT2 vortex flow and temperature sensor for data-center liquid cooling circuits. |
| Chemours | Dielectric-fluid developer working with server and data-center partners on two-phase qualification. | In March 2025, launched a full-scale Opteon 2P50 two-phase cooling trial with NTT DATA and Hibiya Engineering. |
| ASRock Rack | AI server integrator offering factory-integrated systems using two-phase direct-to-chip cooling. | In May 2025, launched the 6U8X-EGS2/ZC SYN H200 server platform with ZutaCore two-phase cooling. |
| Foxconn | Global AI-server manufacturer participating in rack-integrated two-phase direct-to-chip programs. | In February 2025, joined SoftBank and ZutaCore in an H200 rack demonstration that passed NVIDIA NVQual. |
| Compal Electronics | AI server integrator pairing high-density platforms with waterless two-phase direct-to-chip cooling. | In September 2025, presented integrated server and ZutaCore cooling configurations at Yotta 2025. |
| Valeo | Thermal hardware manufacturer supplying heat-reuse units and manifolds for two-phase direct-to-chip systems. | In January 2025, began commercial production of 60 kW HRUs and manifolds compatible with ZutaCore HyperCool. |
Research Methodology
The companies mapped here illustrate two-phase direct-to-chip NCG-control competition without presenting an exhaustive ranking of every adjacent cooling company. Inclusion requires current verifiable evidence that a company supplies two-phase direct-to-chip cooling platforms or NCG-control interfaces within the defined revenue boundary. Evidence comes from regulatory approvals plus third-party certifications and company announcements alongside product documentation or public filings. Capabilities are attributed to the stated cooling platform or rack integration program instead of being generalized to broader corporate portfolios. Market-share estimates remain proprietary FMI assessments that apply only to the stated 2026-2036 forecast period and defined market scope.
