With new funding from climatetech investors as well as $2.3 million in grants from the US DOE, Transaera is commercializing the next generation of AC offering 40 percent energy savings
Transaera Inc., a technology company pioneering a novel, energy-efficient approach to cooling and dehumidification, has closed an oversubscribed $8.2 million in seed funding augmented by an additional $2.3 million in non-dilutive grant funding from the U.S. Department of Energy. The Seed-2 round was led by climate tech venture capital firm Clean Energy Ventures, with participation from returning investor Energy Impact Partners, and new investor MassMutual Ventures. Transaera will leverage the capital to transition from pilots to commercial deployments and scale manufacturing efforts.
Record-breaking temperatures and heat waves are on the rise across the globe. The International Energy Agency (IEA) projects the number of air conditioning units in the world will increase from 2.3 billion to 5.6 billion in 2050 – a direct response to curb the growing number of heat-related deaths, which have surged 68% over the past two decades. This growth is expected to strain the grid and increase global carbon emissions; air conditioning is responsible for more than double the greenhouse gasses emitted by the entire aviation industry.
To help meet the demand for less carbon-intensive cooling, Transaera developed a platform technology based on solid desiccants, which adsorb moisture to provide more efficient cooling, even in extreme heat and humidity. Transaera’s systems use heat generated by the cooling process, which typically goes to waste, to remove humidity from the air. Transaera’s technology enables a 40% reduction in overall energy consumption, while nearly doubling system efficiencies.
“From residential AC to large-scale commercial cooling in warehousing and manufacturing facilities, Transaera is transforming the HVAC industry with a first-of-its-kind affordable solution that requires a fraction of the amount of energy of other approaches,” said Dave Miller, Co-founder and Managing Partner at Clean Energy Ventures. “With a scalable blueprint, Transaera is well-positioned to meet the onslaught of cooling demand across all markets while mitigating gigatons of CO2 emissions over the next few decades.”
“Investing in Transaera is not just a financial opportunity; it’s a commitment to a sustainable future. By enabling energy-efficient cooling solutions, we are not only addressing the pressing challenges of climate change but also making a tangible impact on the lives of millions who need it most,” said Ashwin Shashindranath, Partner at Energy Impact Partners.
“The Transaera leadership team represents a strong blend of exceptional entrepreneurial, scientific, engineering and industry talent,” said Karl Beinkampen, Venture Partner at the MassMutual Ventures Climate Technology Fund. “We see that expertise realized in a new technology platform that utilizes existing form factors, integrates with leading OEMs, distribution and engineering infrastructure, and can be economically compelling to the end-user regardless of regulatory requirements or subsidies.”
With backing from other government agencies, including the National Science Foundation, and additional leading climatetech VCs and accelerators, Transaera plans to incorporate its technology into the commercial designs of air conditioning manufacturers. In the coming months, the company will be focused on commercial applications to maximize the mitigation of carbon emissions, with consumer applications in the future. Before the end of 2024, the company will have conducted critical field trials with two customers.
“Cooling in the form of air conditioning is cost-prohibitive around the globe. Of the 2.8 billion people living in the hottest and poorest parts of the world, only 8 percent currently have AC in their homes,” said Sorin Grama, CEO and Co-founder of Transaera. “We are committed to bringing the next generation of AC to make all homes, communities, and cities livable in the face of the warming planet.”
A recipient of the U.S. Department of Energy awards to research and develop high-impact building technologies and practices, Transaera received a $1.7 million grant to evaluate novel desiccant coatings in high-efficiency portable air conditioners to address the performance and cost improvement for cooling in high humidity climates. Partnering with the University of Central Florida, Transaera was awarded an additional $600,000 to develop and demonstrate an affordable, energy-efficient cooling unit to meet the energy needs of low-to-moderate income (LMI) households.
