The company's patented technology helps to drastically reduce CO2 emissions from Earth's atmosphere.
MIAMISBURG, Ohio, July 20, 2023 /PRNewswire/ -- An innovative solution to the problem of carbon emissions is about to get a lot more funding. Aeroseal, a climate-tech startup with a system to reduce energy leaks to almost zero in some buildings, is receiving a $67 million Series B funding round led by Breakthrough Energy Ventures and Climate Investment.
"Buildings are a critical, yet hard to decarbonize, sector, and Aeroseal's technology is quickly making an immediate impact on emissions," says Carmichael Roberts, Breakthrough Energy Ventures. "The company's solution will make it easier to electrify both new and existing buildings by significantly reducing HVAC demand and mitigating wasted energy from conventional heating and cooling systems."
With support from several top U.S. home builders and a network of specialized HVAC dealers in the U.S. and Canada, Aeroseal has sealed 260,000 buildings (residential and commercial) since its inception. Company CEO Amit Gupta says that with the new funding, Aeroseal hopes to secure that many buildings annually within three years.
"We expect our momentum to continue with the world's increased demand for healthier energy-efficient spaces, tighter regulations, and greater incentives tied to adopting newer codes," Gupta says. "This is just the beginning."
Buildings contribute approximately 40% of the world's carbon emissions, according to the World Green Building Council. Furthermore, almost half of the energy used to heat or cool a building gets wasted due to leaks in its air duct system.
Aeroseal's technology delivers sticky polymers into a building's air ducts and envelopes to create seals where manual sealing methods can't. Studies show homeowners can save thousands of dollars on energy bills in a short period with an Aeroseal-treated house.
"Aeroseal's approach to reducing energy consumption in buildings by addressing air leakage is truly innovative and industry-leading," says Marc Van Den Berg, Global Managing Director for Ventures at Climate Investment. "Its products have been proven to reduce energy consumption by an average of 30%, significantly impacting the environment and building operations. We are proud to have Aeroseal as a valued member of our Climate Investment portfolio."
Learn more about Aeroseal and this funding round by reading the company's full news release here.
About Aeroseal, LLC
Aeroseal is changing the definition of what makes a healthy, energy-efficient building. Its one-of-a-kind carbon dioxide removal technology produces a gum that seals air ducts and building envelopes more efficiently than any other method. The application requires no lifestyle change for building tenants, no building renovation, and can be done in a single afternoon. Aeroseal's patented methods are one of the best ways to reduce energy loss from buildings and improve HVAC system performance. The company is dedicated to removing one gigaton of carbon dioxide from the earth's atmosphere annually. That's enough to fully load 10,000 U.S. aircraft carriers or equal the mass of all non-human land mammals worldwide. Aeroseal has over 200 employees in Dayton, Ohio, who serve contractors, builders, and building owners by sealing ducts and walls in their homes and properties. Visit www.aeroseal.com for more information.
SOURCE Aeroseal, LLC