With new investments, an Oak Ridge company is promoting a technology for cooling buildings.
Active Energy Systems (AES), a cleantech company advancing a new cooling solution, announced it had met the initial conditions for a first close on a $1 million seed funding round, led by the Clean Energy Venture Group.
Other investors include Queen City Angels and Three Roots Capital.
“Climate change, aging infrastructure and rising costs all present significant challenges for today’s building owners’ ability to maintain safety, comfort and affordability with current cooling systems. AES is commercializing an advanced cooling solution with built-in energy storage to provide building owners with lower cooling costs, reduced carbon emissions and strengthened cooling resiliency,” a news release from the company stated.
AES plans to create and commercialize an enhanced form of ice thermal energy storage. Such an enhancement will not only further open the current ice energy storage markets, such as comfort cooling and process cooling, but also help enable an upcoming form of electricity storage: pumped thermal energy storage, the news release stated.
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