New Investment Will Support Startup's DOAS
(Courtesy of Mojave Energy Systems)
SUNNYVALE, Calif. — Mojave Energy Systems has raised $9.5 million in Series A funding, part of which will be used to accelerate the adoption of Mojave’s dedicated outdoor air system (DOAS) solution, ArctiDry.
The Series A round was led by existing investors Fifth Wall and At One Ventures, with participation from returning investors Myriad Venture Partners, Starshot Capital, Alumni Ventures Group, and new investor Earth Venture Capital, a press release from Mojave said.
ArctiDry, which sets new a new standard for energy efficiency, began shipping earlier this year, the press release said. The new funding will support the company’s sales and marketing expansion, new ArctiDry product launches, electrochemical regeneration research, and the completion of its U.S. Department of Energy (DOE) manufacturing scale-up efforts.
This latest round brings Mojave’s total funding to $25.6 million.
“We are grateful for the ongoing support of our investors as we transition into this next phase, focused on accelerated adoption, product line expansion, and new market development,” said Phil Farese, Mojave’s CEO. “This latest round validates our market leadership and proven success in achieving unprecedented levels of energy efficiency with our liquid desiccant DOAS, while delivering the reliability, performance, and ease of operation that customers need.”
In the past year, Mojave signed 19 firms to its sales partner network that are actively representing ArctiDry in their regions. Mojave will continue to expand coverage across the U.S. in 2025, the company said.
The company launched ArctiDry in January 2024 and is manufacturing and shipping units from its Anderson, South Carolina, facility.
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“Mojave’s ArctiDry is a no-brainer for buildings, allowing owner-operators to precisely meet the temperature and humidity requirements of their assets, while providing energy savings and thereby lowering emissions,” shared Anastasia Istratova, principal at Fifth Wall. “We are thrilled to deepen our partnership with Phil and his market-leading team to drive forward advanced features and new technologies that will further revolutionize the industry.”
This winter, Mojave will launch ArctiDry HP, which will make it the first company to integrate liquid desiccant with a reversible heat pump, the company said. Meeting new state regulatory requirements for energy efficiency, the integration will enable electricity savings and zero-carbon wintertime operation, the company said.
Additionally, Mojave has begun the second phase of its DOE project to demonstrate the energy efficiency and reliability of ArctiDry in the field in a variety of applications. This project includes additional field tests that build on previous field tests.
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