Mojave raises $19M to scale its humidity-first HVAC systems
Founder Phil Farese is expanding production of liquid-desiccant units; an SEC filing records nearly $25M sold, including converted securities.
By RuntimeWire Staff · Published
Primary source: SEC
Why it matters
Mojave is using its Series B to test whether a specialized HVAC design can scale beyond engineering and into repeatable factory output. The Form D's nearly $25M sold figure includes converted securities, so it should not be mistaken for $25M of new cash.
Phil Farese built Mojave Energy Systems around a problem conventional air conditioning tends to treat as an afterthought: humidity. On September 23rd, the Sunnyvale climate-hardware company announced a $19 million Series B to expand sales and manufacturing of its commercial HVAC systems. A same-day SEC filing records nearly $25 million sold in a securities offering, but Mojave says that figure includes previously issued convertible securities that converted into preferred stock. The filing does not establish that Mojave raised $25 million in new cash.…
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.