Dealflow | February 9, 2023

Therma secures $19 million to help companies manage cooling and refrigeration needs

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, February 9 – Fluorinated gasses used for refrigeration are more potent greenhouse gasses than methane or CO2. One way to cut greenhouse gasses is to improve refrigeration management (another: develop alternative refrigerants).

“The massive growth of refrigeration and air conditioning globally will greatly accelerate climate change unless we revolutionize cooling technologies,” said Manik Suri of Therma.

The San Francisco-based company helps companies with large refrigeration loads track temperatures, monitor equipment and save on utility bills by shifting some of their energy load to off-peak hours.

Therma counts McDonald’s, Domino’s, Marriott Hotels and NOW Foods among its customers.

Backers in the company’s $19 million Series A round include Zero Infinity Partners and Collaborative Fund, which re-upped its investment in the company.