Harvest Thermal, a startup focused on revolutionizing home electrification, has secured a $4 million seed round led by Earth Foundry, with participation from MUUS Climate Partners, Starshot Capital, and Portfolia. The company’s innovative solution aims to make heat pumps more efficient and cost-effective by optimizing their operation based on electricity availability and cleanliness.
Key Takeaway
Harvest Thermal has raised $4 million in a seed round to support its mission of optimizing heat pump efficiency. The company’s innovative solution integrates a heat pump and a hot water storage tank, allowing for optimal operation based on electricity availability and cleanliness. This technology aims to lower costs and increase accessibility for home electrification.
Pioneering a new approach to home electrification
Harvest Thermal’s co-founder and CEO, Jane Melia, came up with the idea when faced with the challenge of replacing a gas furnace in her home in Berkeley. Instead of opting for another gas-powered solution, Melia saw the opportunity to transition to a heat pump but realized that running multiple heat pumps on-demand to cover all her energy needs would be costly and inefficient.
Melia, an engineer with a background in fluid dynamics, recognized that running heat pumps when electricity was cheapest and cleanest would be the ideal solution. However, this required a significant investment in battery storage, which was simply not feasible for most homeowners.
A game-changing technology
Determined to find a more affordable and elegant solution, Melia and her co-founders developed an innovative system that integrates a heat pump and a hot water storage tank with advanced controls. This compact add-on, about the size of two shoeboxes, enables heat pumps to operate at optimal times, reducing electricity costs and dependence on fossil fuels.
The newly secured seed funding will enable Harvest Thermal to further refine and commercialize its technology, bringing it to market and making home electrification accessible and affordable for homeowners everywhere.
