Award-winning company lands its first venture investors
— Dr. Jane Melia, CEO
BERKELEY, CA, US, December 12, 2022 /EINPresswire.com/ — Harvest Thermal Inc, developer of a breakthrough decarbonization solution for home HVAC, successfully closed a $2.5 million Seed+ round led by VC Starshot Capital and including MUUS Climate Partners. The round was completed with angel investors Seattle Angle Conference and Climate Capital as well as reinvestments from prior angels.
Last month, Harvest Thermal shared the top prize at Seattle Angel Conference 2022 with a $100,000 investment and won the overall Accelerate ClimateTech competition and the Building category at VERGE22 for an additional $10,000 in prize money.
Harvest Thermal brought to market a smart, ultra-efficient home heating and hot water system that controls when a heat pump operates, slashing carbon emissions by 90% or more compared to gas and reducing monthly heating bills by up to 45%. The Harvest Pod orchestrates the whole system, utilizing a high-performance heat pump and transforming an ordinary water tank into a thermal battery releasing heat and hot water whenever needed. Cloud-enabled with machine learning to maximize performance, the Pod optimizes for the highest levels of efficiency, customer comfort, and emission reductions.
“Home heating and hot water is the final frontier for decarbonizing our lives,” said Dr. Jane Melia, co-founder and CEO of Harvest Thermal. “Heat pumps are an important tool, but by themselves, present a range of challenges for rapid decarbonization. By connecting a single heat pump to a smart, connected device that enables storage, we create an affordable, sustainable and comfortable alternative to gas equipment and help realize ambitious climate goals.” Melia was recently named “100 Women of Influence” by Entrepreneur Magazine in the October 2022 issue.
Said Partner Logan Grizzel, “MUUS Climate Partners is excited to invest in Harvest Thermal because their solutions address the biggest energy consumer in the residential space: heating, both in air and water. The team is providing a solution that leads not only to significant energy savings, but also amazing greenhouse gas reductions while further saving people money, a trifecta that provides excellent benefits to all.”
Under this round, Sam Levac-Levey, founding Partner of Starshot Capital, joined the board as an observer, while Logan Grizzel of MUUS Climate Partners was named Director alongside David Marple from Astia Angels.
The round brings the total raised by Harvest Thermal to $6.9 million including the initial seed round led by Astia Angels and including VertueLab, EnergyLab, and Band of Angels.
Harvest Thermal has also received non-dilutive grants including:
° $1.25 million from the National Science Foundation
° $1 million from the California Energy Commission
° And $250,000 from Peninsula Clean Energy
The new funding will go toward adding to the Pod’s feature set and scaling deployment and operations capabilities including optimizing the installation process and growing the company’s marketing and sales capacity.
Harvest Thermal, Inc.
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Harvest Thermal Ribbon Cutting at Daly City, CA, Home, June, 4 2022