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EVHACS expects to start shipping its tech in the fourth quarter of this year. Mitsubishi Electric will be the Kildare-based start-up’s first client.
Irish climate-tech start-up EVHACS has secured €1m in seed funding to further develop its technology aimed at lowering carbon emissions.
EVHACS, an abbreviation of electric vehicle heat pump air conditioning charging system, is an Enterprise Ireland client company that has developed technology to combine electric vehicle (EV) charging with heat pumps, air conditioning and refrigeration units.
The company hopes that the patent-pending technology will help households and commercials premises lower their carbon emissions and allow for easier access to EV charging via a large air conditioning network.
EVHACS said the seed investment round was closed this month after being open for a short period of time – highlighting the demand for its tech. It brings total investment raised by the start-up to €2m.
CEO Jeff Aherne said that the investment is “a huge support” for the company based in Clane, Co Kildare.
“It shows the confidence the market has in the delivery of our product, and it also creates a deeper pool of resources, expertise and know-how from which we can draw in the coming months,” he said.
“We’re delighted to welcome our investors onboard as we push for delivery of our product in Ireland in Q4.”
Now, EVHACS expects to start shipping its first deliveries in the fourth quarter of the year and has already started taking orders. This includes Japan’s Mitsubishi Electric, which will become the first company to have access to the technology.
The EV charging space has been a hotbed of investments and innovation lately. In July, EV charging start-up Go Eve, a joint University College Dublin and Imperial College London spin-out, raised £3m in its first ever funding round.
Earlier in May, Irish-founded EV charging stations maker Jolt raised €150m to expand its network across Europe and North America.
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