The Cooling Tower is a machine which allows for the conversion of Steam Hi, Steam Lo, and Steam Depleted byproducts into Water. As the ratio of Water to all types of steam is 1:1, the Cooling Tower thus recovers 50% of the Water contained therein.
While its in-game description states that it is for use in power plants, it is not limited to that application. The Cooling Tower can also be implemented in conjunction with the Exhaust Scrubber to reduce the Water requirement for reducing the Air Pollution levels associated with Exhaust. It can also be utilized together with the Arc Furnace II to reduce overall Water consumption in smelting arrays.
Before the version 0.4.0, Cooling Tower had different appearance.