WICHITA, Kan., Dec. 18, 2019 /PRNewswire-PRWeb/ -- HyperBorean closed its pre-seed angel round of financing totaling $2,100,000.
Angel investors included members of Landmark Angels and Precocity Capital, both in Connecticut, and a principal with Heartland P5 in Kansas City. Additional angel investors are located in Wichita, Tulsa, and Kansas City.
Founded in 2013 by Todd Gentry, HyperBorean spent over four years doing research and development to invent an air conditioning compressor that converts waste heat into a power source for cooling. By using a heat source like concentrated solar power (CSP) the technology can be used to cool structures without the need for grid power.
Refrigeration and cooling is listed as the #1 solution to fight climate change in the book Drawdown: The Most Comprehensive Plan Ever Proposed to Reverse Global Warming, by Paul Hawken. This angel round of financing will help HyperBorean fund third party field tests and will fund the growth of the team and sales channels.
HyperBorean's product is 100% built and designed in Kansas. The product was assembled at the GoCreate Facility at Wichita State University. HyperBorean's headquarters location at WSU is also a designated Opportunity Zone.
"We are proud of our foundation in Wichita and look forward to working with new local resources like Angeline Johnson, Chief Opportunity Zone Officer in the City of Wichita City Manager's Office." said Todd Gentry, CEO.
Todd also acknowledges Wichita funders like Josh Oeding President & CEO at e2e Accelerator; Founder & Managing Member at Accelerate Venture Partners, have been with HyperBorean's development.
HyperBorean has benefited from non-dilutive accelerator programs like The CleanTech Open at the Los Angeles CleanTech Incubator, the SBDC program at WSU, and BlueValley Ventures at Fresno State's Water Energy and Technology Center:
"Connecting to networks on both coasts helps bring resources and thought leadership back to Wichita," said Patrick Hosty, Director of Business Development.
Hosty continued, "Though early in our commercialization process we are gratified by the response of those who learn about our technology.
HyperBorean
HyperBorean reduces the energy costs for air-conditioning by providing off-grid air conditioning which allows for greater resiliency at installations that have mission-critical cooling needs during grid failures. HyperBorean's technology also increases the lifespan of legacy refrigeration equipment by reducing its daily run time. One of our customer's greatest pain points is losing cooling at remote sites due to grid failure or equipment failure. The second greatest pain point is the cost of energy used for cooling. HyperBorean's solution addresses both in addition to allowing for more agile deployment of refrigeration solutions.-
If you would like more information about this topic, please call Patrick Hosty at 620-229-0001 or email [email protected]
SOURCE HyperBorean
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