Decathlon Capital Partners makes multi-million dollar investment in thermal energy company
ASHEBORO, NORTH CAROLINA, Jan. 15, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Phase Change Energy Solutions announces a multi-million dollar investment from Decathlon Capital Partners to spur growth.
The fresh funding will support expanded sales and marketing efforts along with additional product development. Phase Change designs and manufactures thermal energy management solutions for various markets, including cold chain, food delivery, and the built environment. These cost-effective technologies are engineered to precisely control temperature, reduce power consumption, manage operational expenses, and minimize environmental impact.
Phase Change products are powered by BioPCM®, a patented and proprietary family of phase change materials. BioPCM® absorbs heat when temperature exceeds a desired target and releases heat when temperature drops below that target. Deploying BioPCM® solutions in the built environment can reduce HVAC power consumption by up to 35 percent. As a result, Phase Change systems effectively pay for themselves.
“BioPCM® products install quickly without business disruption and require little or no maintenance,” said CEO Dr. Reyad Sawafta. “They are non-toxic, non-corrosive, and have a demonstrated useful thermal lifespan of over 100 years. Now, with Decathlon’s commitment to our vision, we will be able to advance our research and development of these and other products, while extending our current market reach.”
“At a time when rising energy costs capture almost as much attention as global warming, Phase Change continues to innovate with efficient, environmentally conscious solutions,” said Decathlon Capital’s Chris Risey. “We are pleased to make this investment in their growth plans.”
About Phase Change
Phase Change Energy Solutions, founded in 2011, is a global leader in the development of temperature control and energy-efficiency solutions utilizing phase change materials (PCMs). The company developed a patented, plant-based, non-toxic and non-corrosive family of PCMs that can store large amounts of latent heat at targeted temperatures. Learn more at https://www.phasechange.com.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at www.decathloncapital.com.
Media Contact
Ms. Anne McLean
336-629-3000
amclean@phasechange.com