Technology

Therma° Raises $19 Million Series A to Build Cooling Intelligence

Published

2 years ago

February 7, 2023

Funding Combats Climate Change by Using AI to Cut Energy and Food Waste from Refrigeration and Air Conditioning Systems

SAN FRANCISCO, Feb. 7, 2023 /PRNewswire/ — Today, Therma°, a cooling intelligence platform combating food and energy waste, announced a $19M Series A. The oversubscribed round was led by Zero Infinity Partners, with participation from Deciens Capital, CityRock Venture Partners, Homecoming Capita l, Ananta Capital, Kindergarten Ventures, Collaborative Fund, and Govtech Fund. Therma° will deploy the funding to become a scalable electric grid partner by dynamically lowering energy demand from cooling assets while saving customers money on utility bills.

Cooling, which includes refrigeration and HVAC (heating, ventilation, and air conditioning) is essential for human health. It is also the least understood major driver of climate change, accounting for nearly 10% of global CO2 emissions – including energy use, food waste, and refrigerant leakage. Cooling also drives emissions when extreme weather and high energy prices cause power shortages, forcing utilities to turn on expensive and dirty fossil fuel-based “peaker”power plants to maintain infrastructure and safety.

Therma° Cooling Intelligence Platform uses temperature tracking and energy optimization to alert customers to equipment breakdowns, reduce energy consumption, and move electricity usage to off-peak hours. Therma’s vision is to transform cooling systems into virtual power plants that provide cheaper, cleaner energy while preventing billions of metric tons of CO2 emissions.

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

“How do we best meet the ever-growing demands for cooling in the age of soaring energy prices and electric grid instability? We are excited about Therma’s innovative answer to this crucial and underserved problem,” says John Kwaak, Managing Partner at Zero Infinity Partners.

Dan Kimerling, Managing Partner at Deciens Capital, says, “Since we invested in Therma° two years ago, they have tripled revenue each year. Therma’s vision to transform refrigeration into energy storage will advance energy security around the world.”

“It is rare to find a start-up that successfully reinvents a legacy piece of ubiquitous technology like a refrigerator to prevent both energy and food waste,” says Oliver Libby, co-founding Managing Partner of leading NYC impact investing firm CityRock Venture Partners.

Therma° is currently deployed with over a thousand customers across restaurants, hospitality, education, and food manufacturing including McDonald’s, Domino’s, Marriott Hotels and NOW Foods. Join us to transform cooling at hellotherma.com.

About Therma°

Cooling, which includes refrigeration and HVAC, is the least understood major driver of climate change. Therma° Cooling Intelligence Platform uses artificial intelligence, IoT sensors, and equipment controls to reduce energy usage, prevent food waste, and reduce carbon emissions.

Therma° was founded by Manik Suri, an expert on climate, technology, and public policy. Manik has spoken on the cooling crisis at leading forums including The New York Times Climate Hub at COP26 and Techonomy Climate. He previously held positions at global investment firm D.E. Shaw & Company, the White House National Economic Council, and is a former Affiliate of Harvard’s Berkman Center for Internet & Society.

Media Contact
Aaron Cohen
aaron@hellotherma.com

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SOURCE Therma

Technology

Oberon Securities Advises Keens Steakhouse in Sale Transaction

Published

1 hour ago

November 23, 2024

Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

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SOURCE Oberon Securities; Oberon Securities

Technology

Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

Published

4 hours ago

November 23, 2024

SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

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SOURCE Specified Technologies, Inc.

Technology

ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

Published

5 hours ago

November 23, 2024

BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

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SOURCE ZICC