Montreal, November 13, 2024 – Cycle Momentum, an international climate tech acceleration platform, has participated in the first close of a $1.94 million seed funding round for ChillSkyn Inc., alongside TandemLaunch Ventures and other investors. This funding will support the international expansion of ChillSkyn’s passive daytime radiative cooling (PDRC) technology.
“We are proud to support ChillSkyn’s journey as it brings its innovative PDRC technology to market and expands internationally. ChillSkyn’s innovation offers immense potential to reduce GHG emissions in transportation and other industries, and we’re confident it will make a profound impact on industries seeking sustainable cooling solutions.” Jennifer McDonald, Senior Vice President of Investments at Cycle Momentum.
ChillSkyn’s technology provides a promising solution for reducing energy consumption in refrigeration and cooling systems, helping businesses meet their sustainability goals while enhancing operational efficiency.
“We’re thrilled to see ChillSkyn’s founding team achieve this important milestone, and we are delighted to continue our support as they bring their innovative PDRC technology to global markets. We’ve seen firsthand the potential impact of ChillSkyn’s solutions, and we are excited to continue backing their journey as they expand into high-impact industries and drive the adoption of sustainable cooling technologies worldwide.” Emilie Boutros, Managing Partner at TandemLaunch Ventures.
“We’re excited to begin this new chapter with partners who bring not only capital but also strategic resources and networks essential for our growth across North America and beyond. Having met with each of our new shareholders, we feel privileged to have aligned our capital structure with the values and vision of ChillSkyn. This investment puts us in a strong position to scale our technology and deliver transformative cooling solutions worldwide.” Patrick Racine, CEO of ChillSkyn.
With this funding, ChillSkyn will strengthen its R&D, grow its team, and enter strategic sectors such as cold chain logistics, energy storage, and mobile shelters.
About ChillSkyn
ChillSkyn is a Montreal-based nanotechnology company at the forefront of Passive Daytime Radiative Cooling (PDRC) technology. Our advanced nanostructured coatings offer zero-energy cooling solutions, significantly reducing energy consumption to meet the needs of modern industries. PolyFrost™, our flagship product, exemplifies this innovation by delivering outstanding energy savings and superior cooling efficiency across diverse applications.
With applications ranging from refrigerated transportation to electronic enclosures, including battery energy storage systems (BESS), PolyFrost™ demonstrates the versatility and effectiveness of ChillSkyn’s sustainable solutions. As a leader in PDRC technology, ChillSkyn is committed to delivering transformative cooling solutions that enable industries and communities to thrive, even in the most challenging environments.
About Cycle Momentum
Cycle Momentum is an international acceleration and innovation platform whose mission since 2015 has been to identify and support the development of cutting-edge technologies to address the major ecological challenges facing humanity. A member of the Cycle Capital platform, Cycle Momentum’s programs support entrepreneurial growth, financing, and commercialization of climate technologies. Cycle Momentum invests through Origo, an investment matching program supported by the Government of Quebec.
About TandemLaunch
TandemLaunch is a unique start-up foundry and seed fund focused on creating early-stage technology ventures in the fields of AI, Computer Vision, IoT and Advanced Sensors with a deepening commitment to sustainability and Advanced Materials. TandemLaunch works closely with cutting-edge research from the world’s best universities and with driven entrepreneurs to launch exceptional technology companies with a sizeable market opportunity. Notable portfolio companies include SPORTLOGiQ, WRNCH, Soundskrit, Mirametrix and HaiLa
