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Start-ups

Axiom Exergy raises $7.6 million for chill battery

by Melody M. Bomgardner
May 20, 2018 | APPEARED IN VOLUME 96, ISSUE 21

 

Axiom Exergy, a San Francisco Bay Area start-up, has raised $7.6 million in a first round of funding to help it scale up production of its refrigeration battery. The battery, used in cold-storage facilities and supermarkets, including some Walmart and Whole Foods stores, freezes tanks of salt water at night, when energy costs are low. During the day, it discharges cooling to the facility, cutting costly peak energy use. Axiom says it will use the funds to expand the battery’s features and enter new cooling markets.

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