Airgreen, Inc. Secures Series-A Financing

Emerging Green Energy company to accelerate commercialization of its novel, energy-saving HVAC system

NEW CASTLE, Delaware - January 20, 2019 — AirGreen Inc, a leading supplier of a revolutionary, liquid desiccant cooling system, has completed its Series A round of financing. Terms of this funding round were not disclosed. This funding will allow AirGreen to expand and accelerate its operations in support of its various pilot programs, certification testing, and other projects and installations scheduled for 2019 and beyond.

The revolutionary AirGreen air conditioning system utilizes an efficient liquid desiccant design to save 50-60% of the energy required in commercial and industrial buildings. It controls both temperature and humidity (without over-cooling) and cleans the air while producing more comfortable and healthy conditions. It can be run either with heat pumps or renewable energy sources - an industry first accomplishment. Commercial buildings such as offices, hospitals, schools, retail facilities, recreational facilities, and supermarkets, as well as industrial and manufacturing facilities that require lower humidity for efficient operations all have specific requirements for indoor air quality and are ideal customers for a liquid desiccant system like AirGreen’s.

“We are pleased to have completed this round of financing,” said John Hammond, CEO of AirGreen. “We believe the technologies we have developed will, for the first time, offer high-performing, reliable, and affordable air quality and comfort solutions unavailable to customers prior to now. We very much look forward to working with customers across industries to help them solve their comfort, energy-use,
and indoor air quality problems.”

Key features and benefits of the AirGreen HVAC system include:

  • 50-60% reduction in seasonal energy costs
  • Full, independent control of humidity and temperature
  • Effective biocide captures and neutralizes airborne pathogens
  • Up to 30% reduction in system-wide capacity
  • FRP (fiberglass) construction provides long equipment life and reduced maintenance
  • Greater comfort
  • All using a simple, compact, modular, and redundant system

About AirGreen Inc
AirGreen’s mission is to bring to market the first commercially competitive and soundly engineered full humidity control HVAC product. Unlike most desiccant systems, the patented AirGreen multi-stage process produces supply air at 70°F and below. This allows AirGreen units to be a direct replacement for RTU and AHUs in many applications. In other applications, AirGreen units may be added to pre-treat air.
To learn more about AirGreen, visit http://www.airegreeninc.com

Contact:

AirGreen Inc.
John Hammond
sales@airgreeninc.com