Evercloak, a Canadian startup, has raised $2 million in a seed funding round led by Bioindustrial Innovation Canada’s Sustainable Chemistry Alliance fund. The funds will be used to scale up production of Evercloak’s membrane-based HVAC technology, which can significantly reduce the electricity required to dehumidify air, resulting in a 50% reduction in the energy demands of air conditioning. The investment round also included Greensoil Ventures, Groundbreak Ventures, Ontario Centres of Innovation, and angel investors.
Today, air conditioning is responsible for 10% of global energy use, and that number is expected to triple by 2050. In response, the USA, Canada, and 66 other countries have pledged to cut their cooling system emissions by 68% by 2050. Evercloak’s technology, which involves manufacturing graphene composite membranes at scale, offers a viable solution to this challenge. The company has conducted field trials of two demonstration units and is now preparing to bring its solution to market.
