San Francisco, Feb. 7, 2023 — Therma°, a platform for cooling intelligence that fights food and energy waste, has announced a USD 19 million Series A. Zero Infinity Partners, Deciens Capital, CityRock Venture Partners, Homecoming Capital, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund were other participants in the oversubscribed round, which Zero Infinity Partners led. Therma° will use the cash to dynamically cut the energy demand from cooling assets, saving clients money on electricity bills.
Human health depends on cooling, which includes refrigeration and HVAC (heating, ventilation, and air conditioning). With approximately 10% of the world’s CO2 emissions coming from it, including energy usage, food waste, and refrigerant leakage, it is also the least known major contributor to climate change. When power shortages brought on by severe weather and high energy costs force utilities to activate pricey and pollute fossil fuel-based “peak” power plants to maintain infrastructure and safety, cooling also contributes to emissions.
Utilizing temperature monitoring and energy optimization, the Therma° Cooling Intelligence Platform notifies clients of equipment failures, cuts energy use, and shifts power usage to off-peak times. Therma’s goal is to turn cooling systems into fictitious power plants that produce less expensive, greener energy while avoiding the production of billions of metric tonnes of CO2.
According to Manik Suri, the founder, and CEO of Therma°, “the tremendous increase of refrigeration and air conditioning globally will dramatically exacerbate climate change.”
“How can we effectively fulfill the rising need for cooling in an era of skyrocketing energy costs and unstable power grids? We are enthusiastic by Therma’s creative solution to this pressing issue, “Managing Partner of Zero Infinity Partners John Kwaak comments.
Deciens Capital’s managing partner, Dan Kimerling, states: “Therma° has had annual revenue growth of threefold since we invested in them two years ago. Therma’s plan to convert refrigeration into energy storage would improve global energy security.”
According to Oliver Libby, co-founder and managing partner of renowned NYC impact investment company CityRock Venture Partners, “It is uncommon to discover a start-up that effectively reinvents a heritage piece of ubiquitous technology like a refrigerator to avoid both energy and food waste.”
The main contributor to climate change that is least understood is cooling, which includes refrigeration and HVAC. Utilizing artificial intelligence, Internet of Things sensors, and equipment controls, the Therma° Cooling Intelligence Platform lowers energy consumption, prevents food waste, and lowers carbon emissions.
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