Climate-tech startup Aeroseal secures $67m Series B funding

Aeroseal, a pioneering climate-tech startup that offers a patented solution to the pervasive issue of energy leaks in buildings, has announced the successful completion of a $67 million Series B funding round. Breakthrough Energy Ventures and Climate Investment led this round of funding. The Series B also sees new partners Beazer Homes and Aramco Ventures joining as investors, alongside continued support from existing partners Building Ventures, 2150, and Energy Impact Partners.

Carmichael Roberts, Founder & Managing Partner, Breakthrough Energy Ventures: "Buildings are a critical, yet hard to decarbonize, sector, and Aeroseal's technology is quickly making an immediate impact on emissions. The company's solution will make it easier to electrify both new and existing buildings by significantly reducing HVAC demand and mitigating wasted energy from conventional heating and cooling systems."

With support from several top U.S. home builders and a network of specialized HVAC dealers in the U.S. and Canada, Aeroseal has sealed 260,000 buildings (residential and commercial) since its inception. Company CEO Amit Gupta says that with the new funding, Aeroseal hopes to secure that many 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," Gupta says. "This is just the beginning."

Buildings contribute approximately 40% of the world's carbon emissions, according to the World Green Building Council.  Furthermore, almost half of the energy used to heat or cool a building gets wasted due to leaks in its air duct system.  

Aeroseal's technology delivers sticky polymers into a building's air ducts and envelopes to create seals where manual sealing methods can't. Studies show homeowners can save thousands of dollars on energy bills in a short period with an Aeroseal-treated house.

Marc Van Den Berg, Global Managing Director for Ventures at Climate Investment: "Aeroseal's approach to reducing energy consumption in buildings by addressing air leakage is truly innovative and industry-leading. 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."

www.aeroseal.com