St. John’s, NL - FOR IMMEDIATE RELEASE - October 2, 2024 – NL-based smart HVAC control company Mysa is pleased to announce $11 million in continued funding through co-investors Climate Innovation Capital (CIimateIC), Cycle Capital, Round 13 Capital, Business Development Bank of Canada (BDC), and Killick Capital.
The funding will support Mysa’s mission to fight climate change through the continued development and scaling of Mysa’s market-leading software and hardware products that are proving to be foundational to energy transition and the decarbonization of home heating and overall utility grid decarbonization. Mysa’s fleet of connected devices manages over 700 MW of HVAC load that is being used in “Virtual Power Plants” across North America, helping utilities reduce grid strain during peak demand times, and providing flexible, innovative solutions as demand on the grid increases due to electrification and AI data center build-outs.
“We're very excited to have had the opportunity to lead this important financing round. Mysa is at the forefront of a massive shift in energy management that requires many puzzle pieces to align effectively and efficiently. Mysa’s software stack and hardware platform are major contributors to the realization of this new energy ecosystem, as we look to accelerate the road to a fully decarbonized grid”, said Kevin Kimsa, Co-Founder and Managing Partner of Climate Innovation Capital.
"Building on the success of Mysa’s Series B in 2021, we couldn’t be more excited to have the continued support from existing investors that highlights their strong belief in, and commitment to, the important work our team is doing. Mysa is at its most exciting point in our 8-year growth journey, with an intense focus on expanding our range of leading-edge software platforms designed to help our residential and commercial customers, as well as our rapidly-growing roster of utility partners”, said Josh Green, Co- Founder and CEO of Mysa.
Climate Innovation Capital (ClimateIC) is a growth equity fund investing in technology and service businesses focused on climate change whose purpose is to deliver superior risk-adjusted returns and decarbonize the economy. They identify and grow climate innovations with the highest projected financial returns and the greatest decarbonization potential – delivered in the shortest period of time. ClimateIC leverages their strong network and extensive experience as operators, climate advisors and investment professionals to source attractive opportunities and enhance the growth prospects of our investments.
Mysa’s mission is to fight climate change by creating smart energy management products for electric residential and commercial HVAC. A leading employer in the tech sector in Eastern Canada and a rising star in the smart energy management industry in North America, Mysa’s diverse team of best-in-class innovators is growing rapidly with employees across the continent, as is their ecosystem of residential energy-saving smart thermostats and commercial energy management systems.
Discover opportunities to join Mysa’s growing team of experts and innovators now!
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