Mojave Raises $9.5M to for Energy-Efficient Air Conditioning

Mojave Energy Systems, an startup in sustainable air conditioning, has raised $9.5 million in a Series A funding round. The round, led by existing investors Fifth Wall and At One Ventures, saw participation from returning backers Myriad Venture Partners, Starshot Capital, and Alumni Ventures Group, alongside new investor Earth Venture Capital.

This infusion of capital propels Mojave’s mission to transform HVAC systems with innovative energy efficiency and reduced environmental impact.

The Potential Positive Impact of Mojave's Scaling Efforts

• Lower Carbon Emissions: Scaling ArctiDry could significantly cut energy use in HVAC systems, reducing greenhouse gas emissions across industries.
• Cost Savings: Businesses could save up to 50% on energy costs, freeing resources for growth and innovation.
• Healthier Environments: Improved humidity control enhances indoor air quality, benefiting public health in spaces like hospitals and schools.
• Boost Renewable Energy: Lower power demands make renewable energy integration easier, advancing the global energy transition.
• Job Creation: Expanding U.S.-based manufacturing could generate thousands of jobs and stimulate local economies.

A Mission to Transform Air Conditioning

Founded with the vision to reduce the environmental impact of air conditioning, Mojave Energy Systems has already made a name for itself with its patented liquid desiccant technology.

By offering precise control over dew point and dry bulb temperatures, the company provides a cost-effective and energy-efficient alternative for commercial buildings.

With a total funding of $25.6 million, Mojave's goal is to redefine the future of HVAC systems, combining sustainability, reliability, and lower operational costs for businesses.

Driving Innovation in Air Conditioning Technology

The funding will accelerate the adoption of Mojave's flagship product, ArctiDry, a Dedicated Outdoor Air System (DOAS) that began shipping earlier this year.

As a revolutionary liquid desiccant HVAC system, ArctiDry offers industry-leading energy efficiency, dehumidification capabilities, and ease of installation.

With an ISMRE2 efficiency rating of up to 11 lbs/kWh, it reduces electricity consumption by up to 50%, making it an ideal choice for commercial applications across healthcare, education, hospitality, and manufacturing.

In addition to expanding sales and marketing efforts, Mojave plans to use the funds to:

• Launch new ArctiDry products, including the upcoming ArctiDry HP with integrated reversible heat pump technology.
• Continue research into electrochemical regeneration.
• Complete its Department of Energy (DOE) manufacturing scale-up project.
• Expand its U.S. Sales Partner Network, which already includes 19 firms actively representing ArctiDry nationwide.

Industry Leaders Backing a Greener Future

Mojave’s advancements have garnered strong support from investors who believe in the company’s potential to redefine HVAC standards.

• Anastasia Istratova, Principal at Fifth Wall, praised ArctiDry for enabling energy savings while lowering emissions: “Mojave’s solution is a no-brainer for buildings looking to optimize temperature and humidity control.”
• Dilip Goswami, Venture Partner at At One Ventures, highlighted the green credentials of Mojave’s technology: “This is the most sustainable air conditioning solution available today.”
• Tim Chiang, Co-founder at Myriad Venture Partners, emphasized the need for solutions like ArctiDry to reduce the climate impact of HVAC systems while meeting enterprise demands for reliability and energy efficiency.

Expanding the Vision

Mojave is set to launch ArctiDry HP this winter, making it the first company to combine liquid desiccant technology with a reversible heat pump.

This innovation is expected to meet state regulatory requirements for energy efficiency while enabling zero-carbon operation during winter.

Additionally, Mojave is advancing its Department of Energy project to showcase ArctiDry's energy efficiency across diverse building types. Following successful field tests since 2022, this initiative will provide critical data to further enhance the product's performance and reliability.