Aeroseal Raises $22 Million to Shrink Carbon Emissions by 1 Gigaton Annually
Breakthrough Energy Ventures invests in the potential of Aeroseal’s innovative climate technologies to reduce greenhouse gases from homes and buildings across the globe
DAYTON, OHIO – June 22, 2021 – Aeroseal, LLC, a climate tech company shrinking carbon emissions from residential and commercial buildings, today announced it has raised $22 million in funding. The Series A round was led by Breakthrough Energy Ventures (BEV) with participation from Energy Impact Partners and Building Ventures.
Homes and buildings consume 40% of the nation’s energy, but an average of 30% of this energy is wasted according to the Department of Energy. This energy is wasted, in large part, through small leaks in heating and cooling ductwork, as well as the building envelope separating the interior and exterior of every structure.
Sealing Small Leaks Solves a Big Problem
The ducts and walls in buildings are inadequately sealed by manual solutions. Aeroseal’s technologies, HomeSeal Connect and AeroBarrier Connect, inject a fog of sealant particles into these pressurized spaces. These particles safely seal leaks as big as 5/8” and as small as a human hair. Software tracks the entire process, creating a certificate of completion showing before and after leakage.
Funding to Fuel Climate Tech Innovation
As the world reaches an inflection point around climate change, this funding will help Aeroseal accelerate its mission — enabling homes and building to reach net zero. To do this Aeroseal will scale its R&D, marketing team, and increase support of its dealer network.
“This funding ensures our team can reach its goal of shrinking carbon emissions by 1 gigaton,” said Amit Gupta, CEO of Aeroseal, LLC. “We are doubling our focus on innovation to make our technologies even easier and more cost-effective to deploy throughout the world. Whether we’re enabling net-zero home construction or improving energy efficiency on existing buildings, Aeroseal can help any building reduce its carbon footprint.”
“Aeroseal’s technology addresses a challenge found in every building: energy waste caused by undetectable and unreachable leaks.”
— Carmichael Roberts, Breakthrough Energy Ventures
The company’s 100 employees in Dayton, Ohio serve contractors and builders who are sealing ducts and walls around the globe in everything from homes, hospitals, and schools to government facilities, hotels, and offices. During the pandemic, the importance of more comfortable spaces with cleaner, healthier air became more important than ever.
“Building emissions are a significant contributor to climate change globally and a problem that the BEV team is actively working to solve,” said Carmichael Roberts, Breakthrough Energy Ventures. “Aeroseal’s technology addresses a challenge found in every building: energy waste caused by undetectable and unreachable leaks. This investment will help them build on their market penetration and expand their efforts to reduce carbon emissions in buildings while creating cleaner, healthier air for us to breathe.”
Energy Impact Partners is investing in Aeroseal because utilities are looking for innovative, cost-effective energy efficiency solutions that enable them to support their customers’ efforts to manage their energy spend and carbon footprint.
“Aeroseal can deliver an energy efficiency solution that can be rapidly deployed at scale for commercial and residential buildings,” said Sam Bursten, Vice President at Energy Impact Partners. “Delivering on the promise of building envelope efficiency will have a transformative impact on reducing global emissions. We are confident that Aeroseal’s solution will play a major role in creating sustainable, safe, and healthier homes and workplaces.”
Climate Tech’s Economic Impact
Aeroseal’s impact on climate change would not be possible without its network of more than 1,100 contractors across the globe. In fact, based on the number of Aeroseal’s devices deployed worldwide, the company estimates it helps create more than 3,000 jobs through this network. Aeroseal will create tens of thousands of these high-paying climate tech jobs. It’s already actively hiring for roles across the company. Click here to learn more.
About Aeroseal, LLC
Aeroseal’s mission is to shrink carbon emissions with our breakthrough technologies — 1 gigaton of CO2 annually. Driven by a passionate team in a dynamic culture, Aeroseal exists to advance sustainability through innovation. We’ve already completed nearly 200,000 seals, saving up to $2 billion in energy waste globally. Visit http://aeroseal.com/ for more.
About Breakthrough Energy Ventures
Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible. Visit https://www.breakthroughenergy.org/ to learn more.
About Energy Impact Partners
Energy Impact Partners (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world’s most forward-looking energy and industrial companies to advance innovation. With over $1.5 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of more than 45 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit: https://www.energyimpactpartners.com.
About Building Ventures
Building Ventures invests in and mentors early-stage start-ups in the built environment. The firm’s mission is to champion the disruptive ideas in construction and real estate tech that transform the way we design, build, operate and experience our physical world. Headquartered in Boston with an office in San Francisco, the BV team consists of investors, entrepreneurs, and built environment veterans working together for a better built world. Visit http://buildingventures.com to learn more.
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