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In 1933 Mads Clausen (1905–1966) founded Dansk Køleautomatik- og Apparatfabrik, later in 1946 the company name was changed to Danfoss.The first product was an expansion valve for refrigeration units, it was developed after studying imported valves from the US.
Jørgen Mads Clausen (born 23 September 1948) is the chairman of the board of Danfoss, the large Danish heating, refrigeration, and air conditioning company started by his father, Mads Clausen. He is also the chairman of DI, the association of the Danish Industry, and has a sizeable investment in the WaveStar wave energy project.