Phil Farese, CEO, Mojave Energy Systems
Earth Venture Capital, a global climate tech firm backing deep-tech startups to decarbonise Emerging Asia, announced its participation in Mojave Energy Systems’ US$9.5 million Series A funding round.
The investment, alongside the participation of Fifth Wall, At One Ventures, Myriad Venture Partners, Starshot Capital, and Alumni Ventures Group, raises Mojave’s total funding to US$25.6 million.
In the next phase of innovation, Mojave plans to unveil ArctiDry HP, the first air conditioning system to integrate liquid desiccant technology with a reversible heat pump. This next-generation solution promises zero-carbon heating and cooling, aligning perfectly with Asia’s tightening energy efficiency and environmental regulations.
ArctiDry offers 50 per cent reduction in electricity consumption, enabling precise temperature and humidity control for industries such as healthcare, education, hospitality, and manufacturing with its patented liquid desiccant HVAC system and an ISMRE2 efficiency rating of up to 11 lbs/kWh.
The ArctiDry solution was launched in January 2024 with units manufactured and shipped from Mojave’s Anderson, South Carolina facility.
Mojave is expanding its Sales Partner Network and preparing to scale operations further in 2025.
Also Read: Funding the green transition: Southeast Asia’s climate tech leaders of 2024
Southeast Asia (SEA) faces mounting pressure to transition to sustainable cooling solutions with its rapid urbanisation and economic growth. The region’s HVAC sector is poised for exponential growth, with air conditioning installations projected to rise from 50 million units in 2020 to 300 million by 2040, consuming nearly 30 per cent of building electricity by 2035.
Mojave’s ArctiDry aims to address this challenge head-on by providing a scalable solution to reduce energy consumption and emissions.
“We are grateful for the ongoing support of our investors as we transition into this next phase, focused on accelerated adoption, product line expansion, and new market development,” said Phil Farese, CEO, Mojave.
“This latest round validates our market leadership and proven success in achieving unprecedented levels of energy efficiency with our liquid desiccant DOAS, while delivering the reliability, performance, and ease of operation that customers need.”
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Image Credit: Earth Venture Capital
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