Evari Raises $7.5M in Financing


Evari (formerly known as MTT), a Peterborough, NH-based developer of heat pump turbocompressors, raised $7.5M in funding.

The round was led by Clean Energy Ventures, with participation from Clean Energy Venture Group (CEVG) angel investors and Farvatn Venture.

The company intends to use the funds to grow its team and scale-up its manufacturing capabilities.

Led by CEO Steve Walker, Evari leverages a technology platform tested and proven on high-profile NASA missions to develop miniature, oil-free turbocompressors for heating and cooling applications to aid in the global energy transition and catalyze the decarbonization of many industries.

Over the last 12 months, the company has doubled in size and is now driving the buildout of its micro-machining manufacturing processes. 

As part of the financing, Chris Kmetz, a longtime leader in turbomachinery and engineering at Carrier, joined as an independent board member along with John Santoleri, Venture Partner for Clean Energy Ventures.