Fairtree Elevant Ventures leads US$19 million investment in Mojave Energy Systems 

The Series B funding will help Mojave scale the production and adoption of its energy-efficient, humidity-first climate systems. 

Fairtree Elevant Ventures has led a US$19 million Series B funding round in Mojave Energy Systems, a climate technology company transforming how commercial buildings manage humidity and temperature. 

River Bay Investments also made a significant investment in the round. Existing investors At One Ventures, Fifth Wall, Myriad Venture Partners and Starshot Capital participated alongside new investors Cleo and MetaTrail. 

Mojave will use the funding to expand its manufacturing capacity, grow its sales team and continue developing new products on its ArctiDry platform. 

Rethinking humidity control 

Traditional air-conditioning systems generally manage humidity as a byproduct of cooling. Mojave takes a different approach by controlling humidity and temperature independently, enabling buildings to create better indoor conditions while using less energy. 

Its patented ArctiDry platform is designed for commercial buildings across sectors such as grocery, healthcare, hospitality, education and industry. According to Mojave, customers have reported energy savings of between 30% and 60% compared with standard HVAC systems, typically achieving payback within 18 months. 

“We back ambitious teams harnessing breakthrough innovation to redefine the future,” said David Evans, Managing Director of Fairtree Elevant Ventures. 

“Mojave has turned years of engineering work on liquid desiccant technology into equipment that building facility teams are rapidly putting to use, unlocking energy savings, superior humidity performance, healthier buildings and reduced building carbon footprints. Mojave has the team and the technology to transform this sector, and we are delighted to support them in executing this next stage.” 

Scaling an innovative climate platform 

Mojave’s ArctiDry platform currently includes two products: ArctiDry DX and ArctiDry Hydro. 

ArctiDry DX is a liquid desiccant air-conditioning system that controls humidity and temperature independently. ArctiDry Hydro works with a building’s existing chilled-water infrastructure to improve humidity control, extend chiller capacity and increase overall plant efficiency by up to 20%. 

Demand for the platform is growing as commercial building owners across the United States look for more efficient ways to manage indoor environments and reduce their carbon footprints. 

“We’re thankful for the strong support from existing and new investors during this exciting phase of the business,” said Phil Farese, CEO of Mojave Energy Systems. 

“Demand for our products continues to increase because customers across a range of sectors are done treating humidity as a side effect of cooling. This funding lets us bring Mojave’s Humidity-First Climate Systems to more buildings, faster.” 

Fairtree Elevant Ventures invests in ambitious teams using breakthrough innovation to address significant global challenges. Its investment in Mojave reflects its focus on supporting scalable technologies that can deliver both meaningful environmental benefits and compelling commercial outcomes. 

To learn more about Mojave Energy Systems, visit mojavehvac.com.