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Science Creates member Albotherm, a company developing passive cooling technologies to reduce energy usage in agriculture and the buildings sectors, have successfully completed a £370k seed funding round. The funding will support the development of Albotherm’s Variable Shading System.
The context
Temperature regulation is one of the largest contributors to global greenhouse gas emissions with the cooling industry causing around 10% of carbon dioxide emissions. The adoption of eco-friendly temperature management solutions across many industries could reduce emissions by 460 billion tonnes in the next 40 years.
The technology
Albotherm’s Variable Shading System, is a temperature responsive glass coating to reflect sunlight and reduce the energy required to cool agricultural, domestic, and commercial buildings, which is expected to account for 13% of global energy by 2050. Albotherm’s coatings transition reversibly from clear to white at tunable temperatures to prevent excess solar gains in hot weather. This helps to regulate the temperature of surfaces and structures without the need for energy input.
The team
Albotherm is led by founders, Molly Allington (CEO) and Sian Fussell (CTO). The pair met when they were both researchers at the University of Bristol. It was there that they discovered a shared passion for using science as a force for good.
“The connections and support offered from being a part of the Science Creates community has been instrumental in Albotherm’s success at this early stage. The opportunity to network with other start-ups all at the cutting edge of their respective fields has allows us to accelerate our growth far beyond what we could have achieved alone.”
The funding
The funding round was led by Sustainable Ventures as part of their Sustainable Accelerator programme. Sustainable Ventures provides early stage investment opportunities and support to sustainability focussed start-ups with high growth potential. Albotherm is also part of the Spin Up Science Ventures (SUSV) acceleration program which helps academic founding teams to launch business based on scientific discoveries.
The future
The future looks bright for Albotherm as they look to a bright future tackling a pressing global challenge.
For more information visit: https://www.albotherm.com
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Science Creates Ventures LLP “trading as SCVC” (FRN: 933134) is an Appointed Representative of Kin Capital Partners LLP “KCP”, which is authorised and regulated by the Financial Conduct Authority (FRN: 656789).