Energy efficiency co enVerid Systems raises $20m

startups

enVerid’s innovative HVAC load reduction products significantly lower upfront system costs and reduce annual energy consumption by 20-30% while improving indoor air quality.

Israeli air-conditioning energy efficiency company enVerid Systems today announced it has completed a $20 million Series B financing round led by Breakthrough Energy Ventures with participation from Ajax Strategies, Building Ventures and OurCrowd. enVerid’s innovative HVAC load reduction products significantly lower upfront system costs and reduce annual energy consumption by 20-30% while improving indoor air quality (IAQ).

enVerid’s HLR technology cleans a building’s indoor air at a molecular level, enabling the building to use far less outside air ventilation while improving indoor air quality. Buildings can then invest in smaller, less expensive HVAC systems and realize immediate capital cost savings while enjoying up to 30% of ongoing annual energy savings for the life of the equipment.

The company was founded in 2011 by president Dr. Udi Meirav and SVP international business development Dr. Israel Biran. The company is headquartered in Boston and has a development office in Haifa. eVerid was chosen as one of Israel's ten most promising startups in 2014.

enVerid CEO Christian Weeks said, "We are honored to have this incredible group of investors backing our vision to make the world a cleaner, healthier place - both inside and out - by commercializing technology that delivers energy savings and healthier indoor air quality for commercial buildings. This funding will allow enVerid to increase its investment in product development and expand our market coverage with additional distribution partners."

Published by Globes, Israel business news - www.globes-online.com - on April 28, 2020

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