As of 2013 this technology had proven commercially viable only for ultra-low temperature cryogenic applications available for decades. Magnetocaloric refrigeration systems are composed of pumps, motors, secondary fluids, heat exchangers of different types, magnets and magnetic materials. These processes are greatly affected by irreversibilities and should be adequately considered. At year-end, Cooltech Applications announced that its first commercial refrigeration equipment would enter the market in 2014. Cooltech Applications launched their first commercially available magnetic refrigeration system on 20 June 2016. At the 2015 Consumer Electronics Show in Las Vegas, a consortium of Haier, Astronautics Corporation of America and BASF presented the first cooling appliance. BASF claim of their technology a 35% improvement over using compressors.