MIAMISBURG, OH - Aeroseal, an inventive climate-tech startup committed to reducing energy waste and carbon emissions in buildings, has announced securing a $67 million Series B funding round. The investment, led by Breakthrough Energy Ventures and Climate Investment, is set to dramatically escalate the firm's efforts to mitigate the building sector's considerable contribution to global CO2 emissions.
"Buildings are a critical, yet hard to decarbonize, sector, and Aeroseal's technology is quickly making an immediate impact on emissions," said Carmichael Roberts from Breakthrough Energy Ventures. He acknowledged the startup's innovative solutions, stating they significantly "reduce HVAC demand and mitigate wasted energy from conventional heating and cooling systems," simplifying the electrification of both new and existing structures.
Since its inception, Aeroseal has successfully sealed 260,000 buildings—both residential and commercial—with support from top U.S. home builders and a network of specialized HVAC dealers in the U.S. and Canada. According to CEO Amit Gupta, the substantial new funding boosts their ambitions, aiming to secure that number of buildings annually within three years.
"We expect our momentum to continue with the world's increased demand for healthier energy-efficient spaces, tighter regulations, and greater incentives tied to adopting newer codes," said Gupta, exuding optimism about the company's potential growth. "This is just the beginning."
According to the World Green Building Council, buildings contribute around 40% of the world's carbon emissions. Moreover, almost half of the energy used for heating or cooling these buildings gets wasted due to air duct system leaks.
Aeroseal's ground-breaking technology addresses this problem head-on, using sticky polymers to seal air ducts and building envelopes more effectively than traditional manual methods. The results, studies show, can save homeowners thousands on energy bills within a short period after treatment.
Marc Van Den Berg, Global Managing Director for Ventures at Climate Investment, praised Aeroseal's approach. "Its products have been proven to reduce energy consumption by an average of 30%, significantly impacting the environment and building operations. We are proud to have Aeroseal as a valued member of our Climate Investment portfolio," he said.
Aeroseal's mission extends beyond just energy efficiency. Its patented carbon dioxide removal technology and sealing methods aim to remove one gigaton of carbon dioxide from the earth's atmosphere annually. This ambitious goal represents a quantity sufficient to fully load 10,000 U.S. aircraft carriers, or equivalent to the mass of all non-human land mammals worldwide.
As it sets out to redefine what makes a healthy, energy-efficient building, Aeroseal remains dedicated to its mission, with over 200 employees in Dayton, Ohio, serving contractors, builders, and property owners.