Mojave Energy Systems, a Sunnyvale, California-based climate technology company, has raised $19 million in Series B funding led by Fairtree Elevant Ventures to expand manufacturing and commercial adoption of its liquid-desiccant heating, ventilation, and air conditioning technology. The financing will support the company’s efforts to provide commercial buildings with more efficient humidity management and temperature control.
The round included a significant investment from River Bay Investments, alongside returning investors At One Ventures, Fifth Wall, Myriad Venture Partners, and Starshot Capital. New investors Cleo Capital and MetaTrail also participated.
Mojave plans to use the capital to expand its sales organization, increase manufacturing capacity, and continue developing new products built on its proprietary ArctiDry platform.
The company’s technology is designed to address the relationship between humidity and temperature in commercial buildings, where conventional air conditioning systems frequently manage humidity as a byproduct of cooling.
Mojave’s approach prioritizes what it calls Humidity Performance, which involves intentionally designing, controlling, and continuously verifying the humidity conditions a building needs to operate effectively.
Its technology is especially relevant to facilities where maintaining specific humidity levels matters for operations, occupant comfort, or product quality.
The company’s target markets include grocery stores, industrial facilities, healthcare, hospitality, and educational buildings, where humidity management can create substantial energy and operational requirements.
Mojave’s patented ArctiDry DX is a liquid-desiccant air conditioning system that independently controls humidity and temperature.
The technology is frequently deployed as a Dedicated Outdoor Air System, enabling buildings to manage incoming ventilation air while addressing moisture levels separately from conventional cooling requirements.
The company also offers ArctiDry Hydro, a hydronic liquid-desiccant air-handling system introduced in 2026.
ArctiDry Hydro is designed for facilities that already operate chilled-water plants, allowing building operators to incorporate Mojave’s humidity-control technology into existing infrastructure.
According to Mojave, the system uses conventional chilled-water temperatures to deliver supply-air dew points as low as 25 degrees Fahrenheit, extending the capabilities of traditional chilled-water systems.
The company also reports that ArctiDry Hydro can improve overall plant efficiency by up to 20% while extending existing chiller capacity.
Across its ArctiDry platform, Mojave says customers have reported 30% to 60% lower energy consumption compared with standard HVAC systems, typically achieving investment payback in less than 18 months.
These performance figures are based on customer-reported results and may vary according to building conditions, operating requirements, and installation configurations.
The company’s latest financing follows expanding installations across the United States as commercial building owners increasingly evaluate specialized humidity-management solutions.
Mojave believes this trend is creating opportunities to introduce its technology into a broader range of buildings, particularly those where conventional cooling systems struggle to maintain required moisture levels efficiently.
Beyond expanding production of its existing products, the company intends to develop additional solutions that extend the ArctiDry platform into new applications.
The investment also provides resources to expand Mojave’s customer relationships and distribution capabilities across commercial building markets.
River Bay Investments plans to support that effort through its network of contacts in grocery, data centers, hospitality, and education.
The Series B financing positions Mojave to increase production capacity while continuing to develop its technology as demand for energy-efficient climate-control systems grows.
KEY QUOTES:
“We’re thankful for the strong support from existing and new investors during this exciting phase of the business. Demand for our products continues to increase because customers in grocery, industrial, hospitality, education, and other sectors are done treating humidity as a side effect of cooling. This funding lets us bring the Humidity-First Climate Systems that only Mojave’s ArctiDry platform can offer to more buildings, faster.”
Phil Farese, CEO of Mojave Energy Systems
“We back ambitious teams harnessing breakthrough innovation to redefine the future. 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 on executing this next stage.”
David Evans, Managing Director at Fairtree Elevant Ventures
“We’ve been introducing Mojave to contacts across grocery, data centers, hospitality, and schools, because this is exactly where we want to help: growing sales and keeping new products coming.”
Tom Leonard, CEO of River Bay Investments
