Exergyn, a Dublin-based cleantech startup building innovative waste conversion and heat recovery solutions, has raised US$ 34 million in a Series A funding round co-led by Mercuria and Lacerta Partners on 21 January 2022.
Investors: The latest investment round featured Mercuria and Lacerta Partners as the lead investors with participation from McWin. The startup has managed to raise, in total, over US$ 36 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards releasing its thermal management solutions in the market by collaborating with giant MNCs.
About Exergyn
Brought to existence in 2012 by Alan Healy and Kevin O’Toole, Exergyn envisages radically mitigating greenhouse gas emissions worldwide by implementing its world-class prowess in shape memory alloy (SMA) to encourage commercial manufacturing of efficient, clean energy products. The company is backed by grants and equity investments from Irish Government’s Disruptive Technologies Innovation Fund, Enterprise Ireland, SEAI, EU Horizon 2020 and Carbon Trust UK. Presently, it owns over 100 global patents and possesses unparalleled proficiency in the industrial execution of SMA. The firm plans to provide its offerings to the aerospace, heating, air-conditioning, refrigeration, automotive sectors by establishing partnerships with key players, especially MNCs, in the market.
What the Founder has to say: “It’s exhilarating to receive such a huge amount of funds in the latest round. Collaborating with McWin, Mercuria and Lacerta Partners will enable us to broaden our product line into several new verticals. We aim to alleviate global warming by employing advanced materials at a commercial scale to deliver environment-friendly offerings. What delights us is to utilise the latest funds to bolster our next growth phase, to provide cost-effective and sustainable products to numerous global domains.”- Kevin O’Toole, Managing Director and Co-Founder of Exergyn.
What the Investor has to say: “Exergyn’s team has persistently worked hard to showcase the actual potential of its impact-creating SMAs, containing a mix of superior qualities like durability and high-efficiency. We seek these SMAs to eliminate the requisite for refrigerants in conventional sectors like the refrigeration and cooling sector, thereby driving cost-efficiency in operations through zero HFC emission in the atmosphere. We realise the surging demand for innovative green products like the one offered by Exergyn. We look forward to assisting them in achieving exponential growth as they begin their new growth phase.”- David Haughie, Managing Director at Mercuria.
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