Buildings account for 40% of global CO₂ emissions, with air conditioning alone contributing 4% of greenhouse gases. Regions that have historically had little need for HVAC systems are now experiencing more frequent extreme weather events and high heat periods, increasing the demand for HVAC systems as a result. In some communities, air conditioning was once considered a luxury but is now becoming a necessity. Further, as incomes rise and living standards improve across many developing nations, the demand for air conditioning in warmer regions is expected to increase significantly.

For over 100 years, cooling systems for buildings have remained largely the same⸺until now. Mojave Energy Systems is pioneering next-gen solutions to dramatically improve the way we heat and cool buildings. With $25.6 million in funding to date, Mojave's technology is already driving down energy costs, lowering building emissions, and cultivating trust with its customers. Mojave is furthering its mission with the launch of a heat pump-equipped version of its patented, easy-to-install drop-in ready liquid desiccant HVAC product, ArctiDry. As heat pumps grow in popularity⸺and in some communities, are now required in buildings⸺Mojave has introduced a reliable, cost-effective, climate-friendly cooling and heating system into the market.

At Myriad Venture Partners, we recognize the market need for a new approach towards cooling buildings. At the end of 2022, we spun Mojave out of the Palo Alto Research Center and have been a steadfast supporter since, demonstrating our long-standing commitment to the team’s mission and impact. Our continued excitement reflects our thesis in revitalizing industries through the infusion of breakthrough technologies led by the next generation of leading founders. These startups will transform today’s industries into the industries we need tomorrow.  For the built environment, that means a step change in operational efficiency and energy savings⸺and a net-zero future. But we’re not just bullish on Mojave because of its transformative technology; we’re backing a team that has a clear strategy to win. By adapting quickly to market demands and scaling with an industry-friendly approach, Mojave is positioned to redefine the future of HVAC.

We need innovative ideas and industry-relevant execution to unearth untapped possibilities in physical industries. Mojave is led by CEO Phil Farese and a team of industry veterans who understand the challenges, opportunities, and customer pain points firsthand. This industry expertise has enabled Mojave to build a solution that seamlessly integrates into existing HVAC value chains – avoiding the need for businesses to change how they buy and maintain HVAC solutions while realizing an immediate reduction in building energy spend. As Mojave continues to lead the advanced HVAC sector and transform a key industry that is better for both business and the planet, we’re thrilled to be supporting them along the way.

Innovative Technology to Meet the Moment

ArctiDry is Mojave’s liquid desiccant HVAC system designed to enhance energy efficiency in commercial buildings, dramatically reducing the energy required for removing moisture from outdoor air compared to traditional systems. The net result is that Mojave now leads the way in providing best-in-class efficiencies, industry-leading reliability metrics, and very short payback periods for customers.

Amid skyrocketing energy demands, ArctiDry improves air conditioning efficiency by 40-60%, reducing refrigerant use and enhancing air quality in commercial buildings. By cutting energy consumption by up to 50% while maintaining industry-leading efficiency (ISMRE2 rating up to 11 lbs/kWh), ArctiDry is setting new benchmarks for energy conservation. Recently, it earned UL certification by Intertek, highlighting Mojave’s commitment to safe, energy-efficient HVAC solutions and raising the bar for performance and sustainability. This recognition comes at a critical time as new heat pump regulations are reshaping the HVAC industry.

Along with eight other states, Massachusetts has pledged that 65% of all new HVAC and water heating systems on the market will be electric heat pumps by 2030, increasing to 90% by 2040. The U.S. Department of Energy has also implemented regional standards that require higher Seasonal Energy Efficiency Ratio (SEER) ratings for air conditioners in the Southeast and Southwest regions, reflecting a push for greater energy efficiency in these areas. Mojave has developed a liquid desiccant system that is not only efficient but field-tested, reliable, commercially installed and available⸺and is now the first to package it with a heat pump.

The latest launch of ArctiDry provides both cooling and heat, which is especially important in regions mandating building electrification while experiencing longer periods of extreme heat in warmer months. By offering a reliable, affordable solution, Mojave is helping the HVAC industry transition to net zero while meeting evolving regulations and without compromising performance.

Real-World Validation and Trusted Reliability

In 2023, Mojave opened its manufacturing facility in Anderson, South Carolina, enabling Mojave to produce its energy-efficient HVAC systems at scale. Pilot projects demonstrated the effectiveness of these systems in real-world deployments and have led to growing commercial adoption of Mojave’s sustainable solutions through 2024.

Mojave’s Sales Partner Network currently has 19 companies in the U.S. and this number continues to grow, representing hundreds of “feet on the street” selling ArctiDry. In addition, Mojave recently announced its sales expansion into Latin America. These advancements demonstrate Mojave’s ability to deliver its innovative technology to the market and meet the growing demand from commercial buyers seeking efficient, reliable, cost-effective solutions.

The true testament to Mojave’s impact on the HVAC industry comes from the customers themselves. Initial installs have close to 50,000 hours of runtime with over 96% uptime, indicating high reliability and performance. Organizations such as Hemlock Semiconductor (HSC) and the University of Central Florida are a couple of the satisfied customers. HSC's Sustainability Lead, Steven Holty, noted, "Mojave’s ability to manage climate control is exceptional."

Partnering for a Sustainable and Resilient Future

Mojave’s HVAC solutions continue to deliver real, measurable value and efficiencies to their customers, leading the field in commercializing their novel technology and driving change in energy efficiency and sustainability for the built environment.

The company has established trust within the market with proven technology that is actively being adopted and making a difference. Myriad’s continued support underscores our confidence in Mojave’s leadership, its alignment with market needs, and its ability to set a new standard in climate innovation. We believe that true scale in climate innovation comes from scale in commercial adoption. Mojave’s ability to turn this vision into tangible results at a high velocity is what makes them truly exceptional in their field, driving both economic value and environmental impact.

Looking Ahead

Mojave momentum isn't stopping here. The team continues to iterate product upgrades that will further increase their efficiency, customer adoption, and in turn, climate impact. Indeed, future advancements in the company's pipeline are expected to drive an 80% improvement in efficiency.

By continuing to tackle global energy challenges with practical yet forward-thinking solutions, Mojave is not only scaling its impact but also leading the HVAC industry toward a sustainable and resilient future. As Mojave innovates and grows, Myriad looks forward to helping shape a built environment that aligns the future of enterprise solutions with environmental responsibility.