Mojave, a Sunnyvale, CA-based provider of liquid desiccant systems, raised $12.5M in funding.
The round was led by At One Ventures and Fifth Wall with participation from Xerox Ventures and others.
The company intends to use the funds to launch its third-generation liquid desiccant air conditioning platform, expand its go-to-market and commercialization rollout efforts, as well as to manufacture initial orders, and continue to invest in research and development.
Led by CEO Philip Farese, Mojave produces liquid desiccant systems targeting energy efficiency and reducing the climate impact of HVAC. Their first product, a Dedicated Outdoor Air System (DOAS) for commercial buildings, focuses on dehumidification, reducing energy consumption and refrigerant use, and improves indoor air quality. Its liquid desiccant technology cools and dehumidifies the air, enabling the user to independently control dew point and dry bulb setpoints. Further, the technology currently in development has the potential to require less energy than vapor compression systems and eliminate the need for refrigerants which would abate over one billion tons of CO2e.
The company, founded in 2022 as a spinout of Palo Alto Research Center (PARC), is already running several field pilots and has its commercial launch slated for January, 2024.
FinSMEs
18/09/2023