AC company Transaera nets $4.5M in EIP-led round
Transaera has raised a $4.5 million seed round led by Energy Impact Partners to build energy-sipping air conditioners.
What's happening: Carrier Ventures, the venture arm of the air conditioning giant, participated in the funding, as did the French manufacturing multinational Saint-Gobain and the Massachusetts Clean Energy Center.
- Transaera says that its design can slash an air conditioner's power consumption by about 50%.
Of note: Transaera is a finalist for the prestigious Global Cooling Prize.
How it works: Air conditioners both cool and dehumidify.
- Transaera's design focuses on the dehumidifying process: It incorporates a metal organic framework — a broad category of material — to passively absorb moisture from the air.
- "Think of it like a sponge: It absorbs the moisture, but then it gets saturated at some point and doesn’t absorb any more water," co-founder and CEO Sorin Grama tells Axios. "You already have heat in the air conditioner, so we use that same heat to dry the material and get it ready for the next cycle."
What's next: Transaera has developed prototypes and it's aiming for commercial production in two years, with an eye toward a "hybrid" revenue mode.
- "Not necessarily straight-up licensing, but not necessarily manufacturing it ourselves," Grama says. "We're working very closely with a number of air conditioning partners that will incorporate the technology into the product."