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Gradient, a San Francisco-based company that is developing sustainable HVAC products, today announced that it has raised $48.5 million in Series A funding. The round was led by Climate Investment Partners (CIP), with participation from Ajax Strategies, Safar Partners, Climate Tech Circle, Shared Future Fund, and At One.
The company will use the funds to accelerate the development of its products, which are designed to make homes more comfortable and energy-efficient. Gradient’s products use a combination of heat pump technology and climate-friendly refrigerants to reduce energy consumption and emissions.
“We are excited to announce this funding round, which will allow us to accelerate our mission of making homes more comfortable and sustainable,” said Vince Romanin, CEO and co-founder of Gradient. “With this funding, we will be able to bring our products to market and help people save money on their energy bills while also reducing their environmental impact.”
The demand for sustainable HVAC products is growing rapidly. According to a recent report by the Department of Energy, the U.S. residential HVAC market is expected to reach $100 billion by 2025. However, the current state of the market is dominated by traditional HVAC systems, which are inefficient and have a high carbon footprint. Gradient’s products aim to address this challenge by offering a more sustainable and efficient alternative.
“We are impressed by Gradient’s products and their potential to revolutionize the HVAC industry,” said Michael Leong, Managing Director at CIP. “The company’s products have the potential to make homes more comfortable and sustainable, while also saving people money on their energy bills.”
This funding round is a significant validation of Gradient’s products and their potential to impact the HVAC industry. The company is well-positioned to capitalize on the growing demand for sustainable HVAC products, and this funding will help it to accelerate its growth and reach.
Gradient is a San Francisco-based company that is developing sustainable HVAC products. The company’s products use a combination of heat pump technology and climate-friendly refrigerants to reduce energy consumption and emissions. Gradient was founded in 2021 by Vince Romanin, a former Tesla engineer, and Sudish Mogli, a former Google engineer.
About Climate Investment Partners (CIP)
Climate Investment Partners (CIP) is a global investment firm that invests in climate change solutions. The firm has over $10 billion in assets under management and has invested in over 100 companies, including Gradient. CIP was founded in 2008 and is headquartered in Washington, D.C.
- Gradient’s products are currently in development and are expected to be available to consumers in 2024.
- The company is targeting the residential and commercial HVAC markets.
- Gradient is looking for partners to help it bring its products to market. If you are interested in partnering with Gradient, you can learn more on the company’s website.