Critical Resources Ltd
Critical Resources Appoints Eric Martinez Gurrea to Advance Two-Phase Spray Cooling Data Centre Technology
Critical Resources (ASX: CRR) has appointed Eric Martinez Gurrea as Technical Adviser, bringing more than 14 years of mechanical and thermal engineering experience into the development of the company's licensed two-phase spray cooling data centre technology. The appointment follows the completion of an exclusive worldwide licence over a portfolio of two-phase cooling technologies covering CPUs, GPUs, high-density electronics and lithium-ion batteries, announced by the company on 21 May 2026.
According to the announcement, the appointment marks a significant step in building the technical team required to progress the program toward rack-scale validation. The engagement is structured on a consultancy basis through InnoFabrics Pty Ltd, with no securities issued and no director or related-party relationship existing between Mr Martinez Gurrea and the company.
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Who Is Eric Martinez Gurrea?
Mr Martinez Gurrea's professional background spans direct-to-chip cooling, single-phase immersion cooling, and hybrid cooling architectures, with six of his 14 years specifically focused on artificial intelligence (AI), high-performance computing (HPC) and mission-critical data centre cooling, according to the ASX announcement.
What Does His Experience Cover?
Key elements of his professional record, as detailed in the announcement, include:
- Product owner and designer of the SmartPod immersion cooling line at Submer Technologies, an immersion cooling company based in Spain
- Delivery of Cooling Distribution Units (CDUs) and thermal solutions for hyperscale operators across the Asia-Pacific region through his own consulting practice
- Current data centre cooling technical lead of a university-led industry working group advising New South Wales and Victorian government departments on water and energy efficiency guidance intended to inform future sector regulation
He holds a Masters of Science in Mechanical Engineering, an MBA, and a Masters of Global Project Management, a combination the company says covers both the technical depth and commercial awareness relevant to its licensing-led development model.
"Bringing Eric on board provides the Company with access to genuine, hands-on thermal engineering expertise as we build out our technology program. Eric has spent his career at the practical end of thermal engineering, and the last six years developing liquid cooling for AI and high-performance computing, and that experience will help us pressure-test the technology and plan its path to real-world rack-scale validation outside the laboratory. Our approach remains capital-light and evidence-led, and we look forward to sharing more as our programs evolve."
Tim Wither, Managing Director, Critical Resources
Understanding Two-Phase Spray Cooling
Two-phase spray cooling works by spraying a dielectric fluid — which is electrically non-conductive and commercially available — directly onto the surface of heat-generating components such as GPUs and CPUs. When the fluid contacts the hot chip surface, it boils on contact. This liquid-to-vapour transition is described as the "two-phase" event.
The vapour produced is captured within a sealed enclosure, condensed back into liquid using near-ambient-temperature fluid, and recirculated in a closed loop, according to the company's announcement.
Why Does the Physics Matter?
The advantage of this approach lies in the physics of liquid boiling. When a fluid changes from liquid to vapour, it absorbs a large quantity of heat, known as latent heat of vaporisation, which is far greater than the heat a coolant can absorb through a simple rise in temperature. This allows high heat volumes to be removed directly at the chip surface while holding operating temperatures stable, without the need for mechanical refrigeration or chiller plant.
Conventional air cooling is described in the announcement as approaching its practical limits as AI chips become more powerful and more concentrated in smaller physical areas. Refrigeration-based cooling is energy-intensive and, in many designs, water-dependent. The licensed two-phase spray cooling technology is designed to operate at ambient temperature, without a chiller and without water at the electronics level.
Glossary of Key Terms
| Term | Definition |
|---|---|
| PUE (Power Usage Effectiveness) | A ratio measuring data centre energy efficiency. A PUE of 1.0 is considered ideal; lower figures indicate greater efficiency. Industry average is approximately 1.5 to 1.7 for air-cooled facilities. |
| WUE (Water Usage Effectiveness) | A measure of water use relative to the IT equipment energy delivered by a data centre. |
| Dielectric fluid | An electrically non-conductive fluid suitable for direct contact with electronics. |
| Two-phase cooling | A cooling process that uses the liquid-to-vapour phase change to absorb heat via latent heat of vaporisation. |
| Latent heat of vaporisation | The heat energy absorbed when a substance changes from liquid to vapour, far greater than heat absorbed through temperature rise alone. |
| CDU (Cooling Distribution Unit) | Equipment that distributes coolant to server racks within a data centre. |
| Hyperscale | Very large-scale data centres typically operated by major cloud and technology companies. |
What the Licensed Technology Portfolio Covers
The exclusive worldwide licence held by Critical Resources spans a portfolio of four technology disclosures, including one granted US patent, as announced on 21 May 2026. The licensed field, as outlined in the ASX announcement, covers:
- Cooling of CPUs and GPUs within high-density electronics and server infrastructure
- Data centre infrastructure cooling broadly
- Lithium-ion battery thermal management within server and power infrastructure
The inclusion of battery thermal management is considered strategically relevant. Battery systems provide backup power and supply stabilisation in most data centres, and their performance, cycle life and safety are governed by operating temperature. The company notes this places its cooling program in alignment with its existing solid-state battery development work, with both areas progressed through a model of university-based research, exclusive licensing and staged development.
What the Peer-Reviewed Evidence Shows
The licensed technology is supported by published studies in two peer-reviewed journals, Applied Energy (2022) and Energy (2023). The company describes the performance data reported in these laboratory-scale studies as an early-stage evidence base for its development program.
| Performance Metric | Two-Phase Spray Cooling (Published) | Conventional Air-Cooled Systems |
|---|---|---|
| Power Usage Effectiveness (PUE) | 1.08 | Approximately 1.69 |
| Total facility energy consumption reduction | 25.8% | Baseline |
| Chip temperature reduction at full load | 7°C | Baseline |
| Water at electronics level | None | Varies |
| Refrigeration chiller required | No | Yes |
Sources: Applied Energy (2022) and Energy (2023). Results are from laboratory-scale studies. The company states its development program is directed at validating and scaling this performance, with independent rack-scale demonstration a key objective.
Furthermore, Figure 1 of the announcement, illustrating heat-removal capability by cooling method, places two-phase spray cooling at the upper end of the heat-transfer coefficient range at approximately h ≈ 30,000 W/m²K, compared with approximately h ≈ 30 W/m²K for natural air convection. The company describes this calculation as illustrative of per-surface capability rather than a measured rack-level result.
The Problem This Technology Is Designed to Address
According to the announcement, several factors underline the scale of the cooling challenge facing data centre operators:
- Cooling is estimated to account for approximately 30 to 40% of data centre energy consumption, a proportion the company says is set to grow as AI GPU racks push toward power densities an order of magnitude above current levels.
- Air cooling is approaching practical limits, as modern AI accelerators concentrate more power into smaller physical areas than prior generations.
- Energy and water constraints are tightening simultaneously, particularly in hot and water-stressed markets, where grid capacity and water availability are cited as emerging factors in determining where new data centre capacity can be built.
- Refrigeration-based cooling is energy-intensive, with conventional designs relying on chiller plant and, in many configurations, significant water volumes for evaporative heat rejection.
The two-phase spray cooling approach, as designed within the licensed portfolio, is intended to address both constraints: chiller-free operation removes the refrigeration energy penalty, while the sealed dielectric loop is designed to eliminate water use at the electronics level. In addition, the system is designed to operate effectively in high-ambient-temperature environments.
CRR's Development Model: Capital-Light and Milestone-Gated
Critical Resources describes its approach to the thermal management program as capital-light and milestone-gated. Rather than funding manufacturing capacity, the company is pursuing a licensing-led model built around:
- Independent technical validation, with each stage of development gated by independent technical and commercial review
- Technical advisory capability, through the engagement of specialists such as Mr Martinez Gurrea to provide engineering review, thermal and system-level guidance, and evaluation support
- Prospective partnerships with research institutions, engineering partners, data centre operators and equipment vendors as the technology progresses toward rack-scale demonstration
The company states the program is at an early stage, with independent rack-scale demonstration identified as the key near-term objective. Consequently, the appointment of Mr Martinez Gurrea is framed as part of building the technical foundation required to reach that milestone.
Critical Resources' primary focus remains its critical minerals and battery programs, including the Mavis Lake Lithium Project in Ontario, Canada, and its solid-state battery development program, with the licensed thermal management technology progressed as a complementary, capital-light extension of that existing strategy.
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Why Investors Should Watch This Closely
Several factors from the announcement are relevant to investor consideration of CRR's thermal management program:
- The problem is described as substantial and growing. Data centre cooling is presented as a present and escalating constraint affecting where AI infrastructure can be built and at what cost.
- The licensed position is exclusive and worldwide, including a granted US patent, providing what the company describes as a defensible technology position underpinning the program.
- The technical adviser brings direct-to-chip and immersion cooling experience. Mr Martinez Gurrea has worked across hyperscale data centre environments in Asia-Pacific, led product development at an immersion cooling company, and currently advises a government-linked working group on related efficiency challenges.
- Peer-reviewed performance data provides an evidence base. Published results in Applied Energy and Energy report a 25.8% reduction in facility energy consumption and a PUE of 1.08, providing a documented starting point for the company's validation program.
- The strategy reflects a consistent thermal management theme across CRR's critical minerals, battery and cooling programs, with the licensing model applied to the cooling portfolio mirroring the approach taken to its solid-state battery development.
- Capital discipline is maintained, with no securities issued for the adviser appointment and the program structured to consume minimal capital until independent validation milestones are reached.
Key Takeaway
Critical Resources has positioned its licensing-led thermal management program alongside its critical minerals and battery strategy, anchored by exclusive worldwide rights to a peer-reviewed two-phase cooling technology. Following the appointment of a liquid cooling specialist as Technical Adviser, the company has identified independent rack-scale validation as its next milestone in progressing the technology program.
Want to Learn More About Critical Resources and Its Two-Phase Cooling Technology Program?
Critical Resources (ASX: CRR) is advancing an exclusive, worldwide-licensed two-phase spray cooling technology designed to address one of the most pressing infrastructure challenges facing the AI and data centre sector — with a capital-light, milestone-gated model built to deliver independent validation. With a specialist technical adviser now on board and peer-reviewed performance data underpinning the program, the company is building toward rack-scale demonstration. To find out more about CRR and its growing portfolio of technology programs, visit the company's official website at criticalresources.com.au.
