Wednesday, August 3, 2016

Axiom Exergy Picks Up $2.5M For Thermal Energy Storage

Richmond, California-based Axiom Exergy, a developer of energy storage devices specifically for facilities with large refrigeration needs, has raised $2.5M in a funding round, according to the company. The funding came from Element 8 Fund, Victory Capital, the MIT Angels, angel investors on the Propel(x) platform, the Sierra Angels, JB Straubel (co-founder and CTO of Tesla Motors), and others. Axiom Exergy develops thermal energy storage systems specifically used to reduce electricy costs for grocery stores and cold storage facilities.