Irish technology and manufacturing company EVHACS announced that it has secured a €1m investment following a successful seed round. EVHACS is an Irish Company supported by Enterprise Ireland with a patent-pending technology that uniquely combines electric car charging with heat pumps, air conditioners and refrigeration units. The technology seeks to contribute to lowering home and commercial premises carbon emissions by integrating the two technologies thereby:
- Allowing for easier access to EV charging via the enormous air conditioning network.
- Lowering installation costs for EV charging.
- Lowering running costs due to increased efficiencies and COP increases.
- Dynamically managing power consumption in the home for heat pumps.
- Removing the need for Home Energy Management Systems.
- Providing a simple method to Grid Operators to balance Heat Pumps and EV Charging.
- Helping to solve future power outages.
- Lowering CO² output and energy consumption.
- Enabling greater adoption of EV and Heat Pumps to move away from fossil fuels.
EVHACS (short for electric vehicle heat pump air conditioning charging system) closed the seed investment round in September following a short window – highlighting the interest in this unique business. The round secured €1m of investment funding taking the total investment in the company to €2m to date
The company is already taking orders for its solution and expects to ship first deliveries in Q4 2023.
Mitsubishi Electric is the first Air Conditioning company in the world to have access to the technology.
Jeff Aherne, CEO, EVHACS says, “the investment support is a huge boost for us, for various reasons, it shows the confidence the market has in the delivery of our product and it also creates a deeper pool of resources, expertise and know-how from which we can draw in the coming months. We’re delighted to welcome our investors onboard as we push for delivery of our product in Ireland in Q4.”