ImpactAlpha, January 23 – North Carolina-based Phase Change Energy Solutions is making new materials to help buildings store and release heat more efficiently, therefore reducing energy consumption. Pegasus Capital Advisors and Third Prime Capital have committed an undisclosed amount of capital to the company for its technologies’ positive environmental impact potential. Industrial tech investor Emerald Technology Ventures has also backed the company.
Phase Change Energy Solutions’ mission is to “advance clean and sustainable thermal technologies throughout the business ecosystem.” Its first product, BioPCM, is a plant-based material that maintains ambient temperatures by absorbing and releasing heat as temperatures rise above or fall below a specified target. The company says the material reduces the need to run HVAC systems, which are high energy users. It also has applications in other industry sectors, like pharmaceuticals and transport.
Connecticut-based Pegasus, a sustainability-focused investor, has backed a number of other energy-focused companies, including Accordant Energy, Global Value Lighting, and Lighting Science Group. New York-based impact investor Third Prime has previously invested in other materials companies, like packaging venture TemperPack, which recently raised a $22.5 million Series B round.