Harvest Thermal Exceeds Fundraising Goal in Closing of Seed Round

Harvest Thermal, the San Francisco Bay Area company that is reinventing home heating and hot water, announced the closing of its $1.9 million seed round today.

SAN FRANCISCO, CA, USA, December 16, 2021 /EINPresswire.com/ -- Harvest Thermal, the San Francisco Bay Area company reinventing home heating and hot water, announced the closing of its $1.9 million seed round today, exceeding its fundraising goal. The announcement comes on the heels of the California Energy Commission’s approval of new building codes that encourage heat pump technologies to increase energy efficiency and reduce carbon pollution.

Founded in 2019, the startup developed a smart device that operates a single high-efficiency heat pump to deliver both home heating and hot water. The Harvest “Pod” uses machine learning to efficiently shift the electric load, dramatically reducing greenhouse gas emissions and cutting customer bills. Its intelligence turns the hot water tank into a thermal battery, closely monitoring, storing, and delivering heat and hot water for customer use whenever needed.

The introduction of 2022 building codes combined with proposed changes to energy net metering regulations issued by the California Public Utilities Commission this week, makes the Harvest Pod best-in-class technology for all-electric mechanical systems. It cuts emissions by 90% compared with gas and 50% compared with standard heat pump solutions and provides savings on customers’ bills ranging from 25-40%.

The round was led by the investment team at Astia Angels, a global network of investors working to level the investment playing field for entrepreneurial teams with women leaders. Other investors in the round include VertueLab, Energy Labs, and the Band of Angels.

In addition to this seed round, Harvest Thermal has been supported by the National Science Foundation, California Energy Commission, and Peninsula Clean Energy.

“The closing of this round couldn’t come at a better time for homeowners and home builders who will be looking for solutions to meet the new standard for home heating and hot water,” said CEO Dr. Jane Melia.“I’m so proud of my team, who have worked diligently to prioritize consumer pocketbooks and comfort while combating the existential threat of climate change. Exceeding our fundraising goal in this round validates our vision and product and motivates us to deploy as rapidly as possible.”

David Marple, lead investor and advisor to Astia Angels explained, “What excites me about Harvest Thermal, is that not only is it run by a well-qualified woman, it is that they have an elegant straightforward solution for cheap residential energy storage that can scale to nearly every market in the world. Their impact on GHG emission reductions could reach several gigaton of CO2 annually at scale from converting buildings from gas to electric appliances, from energy efficiency and from the load shifting/demand response needed to avoid dirty energy sources.”

For more information about Harvest Thermal, Inc. and its products offerings and services, please visit www.harvest-thermal.com.

For business and partnership inquiries, or to schedule an interview, please contact Dr. Jane Melia, CEO.

Dr. Jane Melia
Harvest Thermal, Iinc
jane@harvest-thermal.com
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