TLDR:
- Evari, a developer of heat pump turbocompressors, raised $7.5M in funding.
- The round was led by Clean Energy Ventures and will be used to grow the team and scale-up manufacturing capabilities.
In a recent development, Evari (formerly known as MTT), a Peterborough, NH-based developer of heat pump turbocompressors, secured $7.5M in funding. The financing round was led by Clean Energy Ventures, with participation from Clean Energy Venture Group (CEVG) angel investors and Farvatn Venture. The company plans to utilize the funds to expand its team and enhance its manufacturing capabilities.
Under the leadership of CEO Steve Walker, Evari is using a technology platform that has been tested and proven on high-profile NASA missions to create miniature oil-free turbocompressors for heating and cooling applications. The goal is to support the global energy transition and drive the decarbonization of various industries. Over the past year, the company has doubled in size and is currently focusing on expanding its micro-machining manufacturing processes.
As part of the funding round, Chris Kmetz, a seasoned leader in turbomachinery and engineering at Carrier, has joined the company as an independent board member, along with John Santoleri, Venture Partner for Clean Energy Ventures. This strategic move is expected to bring valuable expertise and insights to the table.
