#37 - Cold chain, hot planet
The hidden role of the cold chain in global warming
When we think of greenhouse gas emissions, we often think of energy used for heating and producing stuff, but not so much for cooling and storing.
Yet, everything taken into account, refrigeration and HVAC is responsible for 10% of CO2 emissions.
The cold chain uses a lot of energy, most of the time fossil fuel. When not properly recycled, refrigerant gases – fluorocarbons – are released into the atmosphere and contribute to global warming significantly.
Moreover, refrigeration disruptions are responsible for significant food and other perishable goods waste.
Things we like to cool down:
- Our homes, offices, shops and other buildings
- Fresh and healthy food
- Pharmaceutical products
- Data centers
Globally, $3 trillion of goods move through the cold chain. This segment is growing at an 8% CAGR!
Most cooling systems are dumb, meaning that they don't leverage data-driven monitoring and optimisation.
Time to move on to smart cooling systems!
Therma, next-gen smart cooling optimisation
Therma was launched in 2019 in San Fransisco by Manik Suri (CEO) and Aaron Cohen (President). The start-up offers temperature tracking and energy optimisation systems, based on hardware components and software.
Leveraging proprietary algorithms, Therma's cooling intelligence platform offers a holistic approach to its users:
- Alert system equipment breakdown to prevent food spoilage.
- Maintenance prevention to avoid equipment downtime.
- Energy price signals and respond to real-time grid opportunities to move energy usage to off-peak hours and maximise energy savings.
Therma's solution is already deployed in over 4,000 client sites in the US and is trusted by well-known brands such as McDonald's, Domino’s, Chick-fil-A, 7-Eleven, and others. A solid track record!
Invest in Therma Series A extension
Building on its early achievements, Therma closed a $20 million Series A round in 2023, led by Zero Infinity Partners. The start-up has just opened a $5m extension!
Therma is currently running an indication of interest on the WeClimate platform. Given the proven market fit, the valuation is unsurprisingly already high – $66.5m. Funds will be used for R&D and commercial expansion.
Check it out here: WeClimate/Therma.
I have no incentives to share this. This is no financial advice, always do your own due diligence, capital at risk.