Pascal, a developer of solid refrigerant technology for cooling systems, has raised an additional $8.5 million in venture funding. The round was co-led by Sazze Partners and LB Investment, with participation from KDB Silicon Valley.
The company has also secured $839,000 in grants from the U.S. Department of Energy and Mass Clean Energy Center. With this latest funding, Pascal’s total funding has reached $17.3 million.
The fresh capital will support Pascal’s first deployments with a multinational beverage manufacturer as the company prepares to scale its cooling technology for industrial use.
Pascal develops solid refrigerants designed to make cooling systems more energy-efficient and environmentally friendly. Traditional cooling systems use hydrofluorocarbons (HFCs), which contribute to greenhouse gas emissions. In contrast, Pascal’s solid refrigerants are non-flammable, non-toxic and free from PFAS chemicals.
“Pascal is reimagining cooling without the climate cost, because the centuries-old vapor compression systems humanity relies on are long overdue for an upgrade,” said Adam Slavney, co-founder and CEO of Pascal. “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.”
“Pascal is tackling one of the world’s largest energy-consuming applications with a fundamentally new technology and clear path toward commercialization,” said Jay Kwon, Principal at Sazze Partners. “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.”
“Pascal combines differentiated technology with an opportunity to address a global cooling market that increasingly demands greater efficiency and new approaches to refrigerants,” said Kiho Park, CEO at LB Investment and Chairman of the Korea Industrial Core Technology Investment Association. “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.”
The company has recently completed a working prototype of its pilot refrigerator and is preparing to install the system at the beverage manufacturer’s facility. The initial deployment is expected to test its energy efficiency and cost benefits with the next project phase planned for early 2027.
Pascal is currently focusing on beverage cooling but aims to expand its technology to larger applications, including commercial buildings and data centers.
Founded in 2023 from research at Harvard University, Pascal is headquartered in Watertown, Massachusetts. The company recently opened a 21,000-square-foot headquarters to expand its engineering, prototyping and testing capabilities.
