Solid-state cooling company raises $10m
5th May 2026
UK: Barocal, a Cambridge-based deep company developing solid-state cooling and heating systems, has raised $10m to accelerate development and scale its engineering team ahead of commercial deployment.
The new seed funding has been raised from World Fund, Breakthrough Energy Discovery, Cambridge Enterprise Ventures and IP Group.
The patented solid-state technology targets the $450bn global heating and cooling market, addressing the rapidly growing demand for cooling in data centres.
Barocal was founded in 2019 as a spin-out from Cambridge University by leading materials researcher Prof Xavier Moya and business developer William Averdieck. The technology originates, in part, from Moya’s Royal Society/European Research Council-funded research into barocaloric materials at the university’s Materials Science Department.
Barocaloric materials use pressure-driven phase transitions to generate large temperature changes. At scale, Barocal claims that its technology will significantly reduce heating and cooling sector emissions through efficiency gains and avoiding gas refrigerants.
Barocal has already won major accolades, including the $1 million 2025 TERA-Award. The team will use the new funding to scale operations and recruit senior technical and commercial talent to accelerate system development.
“Heating and cooling have always been the elephant in the room when it comes to emissions, and ours is a set of materials that could change history. We are building something truly revolutionary,” Moya claimed.
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