Mojave Energy Systems has raised $19 million in Series B funding to expand production of its ArctiDry platform and meet growing demand for advanced humidity control in commercial buildings.
The round was led by new investor Fairtree Elevant Ventures, with significant investment from River Bay Investments. Returning investors At One Ventures, Fifth Wall, Myriad Venture Partners and Starshot Capital also participated, along with new investors Cleo Capital and MetaTrail.
Mojave will use the funding to expand its sales team, increase manufacturing capacity and develop new products based on its ArctiDry platform.
The company focuses on what it calls “Humidity Performance,” which involves controlling and continuously monitoring humidity levels in buildings rather than treating humidity as a secondary result of cooling.
“We’re thankful for the strong support from existing and new investors during this exciting phase of the business,” said Phil Farese, CEO of Mojave Energy Systems. “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.”
Its ArctiDry platform uses patented liquid desiccant technology to control humidity and temperature independently. The ArctiDry DX system is a liquid desiccant air conditioner that can be used as a Dedicated Outdoor Air System (DOAS).
Mojave also launched ArctiDry Hydro in 2026. The system is designed to work with existing chilled-water plants and can achieve supply-air dew points as low as 25°F. The company says the system can extend chiller capacity and improve overall plant efficiency by up to 20%.
“We back ambitious teams harnessing breakthrough innovation to redefine the future,” said David Evans, managing director at Fairtree Elevant Ventures. “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.”
“Mojave has the solution today’s buildings need, and we’re already putting our network to work for it,” said Tom Leonard, CEO of River Bay Investments. “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.”
According to Mojave, customers using its technology have reported 30% to 60% lower energy use compared with standard HVAC systems, with typical payback periods of less than 18 months.
Mojave’s systems are being deployed across the United States in sectors including grocery, healthcare, hospitality, education and industrial facilities.
The company plans to continue expanding the ArctiDry product line and develop additional systems that can bring its humidity-focused approach to more types of buildings and climate systems.
Mojave Energy Systems said the new funding will help accelerate manufacturing and commercial expansion as more building owners look for ways to improve energy efficiency and humidity control.
