MicroRefrigeration, an early-stage company developing advanced cooling solutions for next-generation AI hardware, high-performance computing, and data centers, engaged Stout to value its common shares for tax and financial reporting purposes in connection with the issuance of stock options.

Founded in 2025 and headquartered in Gilroy, California, MicroRefrigeration is developing its proprietary compressed refrigerant thermoelectric cooling technology, designed to address the limitations of current approaches such as direct liquid cooling. The technology targets precise chip temperature control, liquid-free operation, and improved energy efficiency while simplifying infrastructure requirements for AI and high-performance computing environments.

We performed the valuation in compliance with Internal Revenue Code Section 409A and ASC 718, providing the company with a defensible basis for its stock options as it continues to refine its technology and pursue opportunities in the growing market for advanced computing cooling solutions.