Montreal, QC, March 26, 2026 — ChillSkyn, a Canadian climate-tech company developing advanced passive cooling materials, today announced the closing of its Seed Acceleration financing round, with participation from Cycle Momentum and New York Angels. The financing backs commercial deployment in Mexico and Brazil, and Cycle Momentum’s Jennifer McDonald joins ChillSkyn’s board.
Key takeaways
- ChillSkyn’s PolyFrost coating passively cools sun-exposed surfaces by reflecting most incoming solar radiation, cutting thermal load on transportation fleets and industrial assets.
- The round funds an export-first expansion into Mexico and Brazil, where cooling demand is climbing fastest: over 80% of projected cooling electricity growth to 2050 sits in emerging economies (IEA).
- With the investment, Jennifer McDonald, Senior VP of Investments at Cycle Momentum, joins ChillSkyn’s board of directors.
What does PolyFrost do?
Cooling is one of the fastest-growing energy problems on the planet. Air conditioners and fans already consume about 10% of global electricity, and the IEA projects cooling energy demand will triple by 2050 (IEA, The Future of Cooling). Every watt that can be avoided before mechanical cooling kicks in is the cheapest watt in the system.
That’s ChillSkyn’s territory. PolyFrost is a high-performance passive cooling coating that reduces thermal load on sun-exposed surfaces: it reflects the majority of incoming solar radiation while maintaining high thermal emittance, so coated surfaces shed heat instead of absorbing it. No electricity, no moving parts, no refrigerants. For refrigerated trailers, containers and industrial assets, that means less energy burned to hold temperature and better protection for temperature-sensitive goods. We profiled the technology in depth when ChillSkyn first joined the portfolio.
Why Mexico and Brazil first?
ChillSkyn is scaling through an export-first model, targeting markets where cooling efficiency delivers immediate economic value. The geography follows the demand curve: more than 80% of the electricity demand growth for cooling projected by 2050 will come from emerging and developing economies (IEA), and Latin America’s temperature-controlled transportation and industrial sectors are expanding to match. Where the sun is strongest and grids are tightest, a coating that removes thermal load pays for itself fastest.
With this financing, ChillSkyn will expand its partner network and accelerate deployment across transportation and industrial applications in the Americas.
A cross-border climate capital story
The investment reflects growing collaboration between U.S. investors and Canadian climate-tech innovators, a dynamic we mapped in “Why U.S. investors are turning to Canada”.
“The New York Angels is pleased to provide continuing financial support and mentorship to ChillSkyn,” said Ed Levine, an investor in ChillSkyn and Board member of the New York Angels. “A key to success in investing at the seed level is diversification. We recognize the rich climate-tech ecosystem that is thriving in Canada and are happy to be part of the movement.”
ChillSkyn’s model also highlights a gap in Canada’s innovation ecosystem: while strong support exists for research and development, fewer mechanisms exist to support early-stage companies as they begin commercializing and scaling in international markets.
“Canada is exceptionally strong at advancing world-class innovation, but we need to match that with capital to scale globally,” said Patrick Racine, CEO of ChillSkyn. “We are grateful to partners like Cycle Momentum and New York Angels who are stepping in early to support that international growth. When Canadian companies win abroad, the value comes back home through jobs, expertise, and continued innovation.”
What this round means for the portfolio
Cycle Momentum has backed ChillSkyn since its acceleration days, including a 2024 co-investment alongside TandemLaunch Ventures through Origo, its investment matching program supported by the Government of Quebec.
“Cycle Momentum is proud to support ChillSkyn’s talented team on their next phase of international expansion,” said Jennifer McDonald, Senior Vice-President of Investments at Cycle Momentum. “ChillSkyn is a Canadian climate tech company that is competing internationally, with innovative technology that delivers energy efficiency and cost savings to its customers.” With this funding round, Jennifer McDonald joins the board of ChillSkyn.
About ChillSkyn
ChillSkyn is a Montreal-based climate-tech company developing advanced materials that passively cool surfaces exposed to solar radiation. Its PolyFrost coating reduces thermal load on surfaces by reflecting the majority of incoming solar radiation while maintaining high thermal emittance, helping transportation fleets and industrial operators reduce energy use and better protect temperature-sensitive goods. ChillSkyn is commercializing its technology globally, with early deployments across North and Latin America. Learn more at chillskyn.com.
About Cycle Momentum
Since 2015, Cycle Momentum has identified and supported the development of cutting-edge climate technologies. As a member of the Cycle Capital platform, the organization provides acceleration and open innovation programs to support start-up growth, financing, and commercialization, and invests through Origo, backed by the Government of Quebec under the EcoPerformance program, part of the 2030 Green Economy Plan. Discover the startups Cycle Momentum supports.
About New York Angels
New York Angels is the angel investment group that founders choose to accelerate their growth. NYA brings together the most experienced founders, operators, and investors to offer early-stage companies capital, counsel, and connections. To date, New York Angels members have invested $180+ million in 350+ startups, resulting in 67 exits, building one of the most established angel track records. Learn more at newyorkangels.com.
