Led · Seed · Feb 2024

Evercloak develops a refrigerant-free building dehumidification system based on a proprietary graphene-oxide composite membrane that lets water vapour pass while blocking air. The membrane separates dehumidification from cooling, reducing the energy required to dehumidify and subsequently cool air; the company says this can improve building cooling efficiency by up to 50%. Evercloak is scaling membrane production and building an advanced dehumidification prototype as part of a NYSERDA-funded pilot, with an initial US$350,000 award and a potential US$1.15M extension for full-scale development and demonstration. The company estimates its technology could reduce emissions in the State's building sector by 40%, cut peak energy consumption by 25%, and eliminate two‑to‑five megatonnes of CO2 equivalents per year. Evercloak is actively partnering with HVAC manufacturers to rapidly deploy its systems globally and aims to commercialize the technology through demonstrations in New York City buildings. The company frames its product as a market-first building dehumidification technology to improve indoor comfort while lowering greenhouse-gas emissions. Evercloak develops graphene-composite membranes and a patented manufacturing process for continuous single-layer nanomaterial coatings aimed at membrane-based dehumidification. Its HVAC solution radically reduces the electricity needed to dehumidify air, which the company says can cut air-conditioning energy demands in half. Field trials of two demonstration units in summer 2023 demonstrated performance, and the company is preparing to bring the solution to market. With an oversubscribed $2M seed round, Evercloak plans to scale up membrane manufacturing and strengthen its commercial team. The firm positions its technology as a critical efficiency lever amid rising cooling demand and international pledges to reduce emissions from cooling systems. Based in Waterloo, Ontario, Evercloak says its nano-coating manufacturing approach can also be applied to energy storage, water desalination and other industrial processes.

Participated · Series A · Apr 2023

Founded in 2021, Cyclic Materials has developed a two-stage physical and hydrometallurgical process, marketed as MagCycle℠ and REEPure℠, to extract rare earth elements (REEs) from end-of-life products and magnet production waste. The system delivers a 61.2% lower carbon footprint, cuts water use to 5% of traditional mining requirements, and achieves recovery rates exceeding 98%. Its technology supplies mixed rare earth oxides (rMREO) essential for permanent magnets used in AI data centers, robotics, defense systems, e-mobility and automated manufacturing. Commercial momentum includes a forthcoming Spoke facility in Mesa, Arizona, a Hub and Center of Excellence in Kingston, Ontario, and a 10-year agreement to recycle 100% of VACUUMSCHMELZE’s magnet by-products from its new South Carolina plant. Cyclic Materials also partners with Solvay and Lime Micromobility to secure feedstock streams. Following the latest raise, total equity funding tops USD $162 million, enabling rapid expansion across North America and Europe. The company aims to anchor resilient, locally sourced REE supply chains that traditional mining cannot match in speed or sustainability.