Pascal, a Watertown, Massachusetts-based developer of next-generation cooling systems using solid refrigerants, has secured approximately $9.3 million in additional funding to advance the commercialization of its energy-efficient cooling technology. The financing includes $8.5 million in venture funding co-led by Sazze Partners and LB Investment, with participation from KDB Silicon Valley, along with $839,000 in government grants.
The latest funding brings Pascal’s total capital raised to $17.3 million and will support initial commercial deployments with a multinational beverage manufacturer. The company aims to demonstrate the energy efficiency and cost advantages of its solid refrigerant technology while preparing for broader industrial applications.
Pascal’s grant funding includes a $500,000 award from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E), a $239,000 InnovateMass grant, and a $100,000 award through the Climatetech Tax Incentives Program administered by the Massachusetts Clean Energy Center.
Founded in 2023 through research conducted in Professor Jarad Mason’s laboratory at Harvard University, Pascal is developing cooling systems designed to replace conventional gaseous refrigerants with solid materials. The company’s technology addresses environmental and operational challenges associated with traditional vapor-compression refrigeration systems.
Many conventional heating, ventilation, and air conditioning systems rely on hydrofluorocarbon refrigerants, which can contribute to greenhouse gas emissions when released into the atmosphere. Pascal’s solid refrigerants are designed to be nonflammable, nontoxic, and free of per- and polyfluoroalkyl substances (PFAS), while operating within pressure ranges comparable to conventional refrigerants.
The company reports that its technology has demonstrated efficiency comparable to traditional vapor-compression systems performing similar functions, with additional performance improvements anticipated as development continues. Pascal also states that its solid refrigerants can achieve cost parity with conventional systems and be manufactured using existing industrial infrastructure.
Pascal recently completed a working prototype of its pilot refrigeration system and is preparing for an initial commercial deployment with a multinational beverage manufacturer. The project will focus on validating energy savings and operational cost improvements in a commercial environment, with the next development phase expected to begin in early 2027.
Although its initial commercial activities are focused on beverage refrigeration, Pascal believes its technology can eventually support larger cooling applications, including commercial buildings, industrial facilities, and data centers.
The company sees expanding demand for cooling infrastructure as a significant market opportunity, particularly as artificial intelligence workloads increase electricity consumption at data centers. Global cooling electricity demand is projected to increase by approximately 1,600 terawatt-hours by 2035, according to research cited by the company from the International Energy Agency.
Pascal’s latest venture investors also strengthen its relationships with South Korea’s advanced manufacturing industry, which the company views as an important potential partner for scaling production. In addition to opportunities in Asia, Pascal is targeting long-term commercial expansion in Europe and the United States.
The financing follows several recent operational milestones. In September 2026, Pascal opened a new 21,000-square-foot headquarters in Watertown, Massachusetts, expanding its engineering, prototyping, and testing capabilities.
Also in September, Pascal co-founder and Chief Technology Officer Jinyoung Seo was recognized on MIT Technology Review’s 2026 Innovators Under 35 list for work involving alternative refrigerant technologies.
Pascal is continuing to expand its Boston-area workforce while seeking additional commercial pilot partners with significant refrigeration and cooling requirements. Its existing investors include Engine Ventures, Khosla Ventures, and Blindspot Ventures, alongside the participants in its latest financing.
The additional capital positions Pascal to transition its solid refrigerant technology from prototype development toward commercial validation and eventual industrial-scale deployment.
KEY QUOTES:
“Pascal is reimagining cooling without the climate cost, because the centuries-old vapor compression systems humanity relies on are long overdue for an upgrade. We’ve now proved that solid refrigerant systems are just as efficient as a conventional vapor-compression system doing the same job and are expecting further improvements in the near future. With this new funding, we gain the resources to bring Pascal’s cooling technology to more commercial partners seeking lower costs, higher efficiency and reduced emissions. This is the next step in turning years of technology development into a product that can scale.”
Adam Slavney, Co-Founder And CEO Of Pascal
“Pascal is tackling one of the world’s largest energy-consuming applications with a fundamentally new technology and clear path toward commercialization. We have been impressed by the team’s technical progress and ability to translate breakthrough materials science into a product platform with significant commercial potential. We are excited to support Pascal as it enters this next phase.”
Jay Kwon, Principal At Sazze Partners
“Pascal combines differentiated technology with an opportunity to address a global cooling market that increasingly demands greater efficiency and new approaches to refrigerants. We see strong strategic alignment between Pascal’s commercialization plans and Korea’s manufacturing capabilities, and we look forward to supporting the company’s continued growth in the U.S., Korea and globally.”
Kiho Park, CEO Of LB Investment And Chairman Of The Korea Industrial Core Technology Investment Association
