Barocal, a University of Cambridge spin-out developing solid-state heating and cooling systems, has raised €8.5 million in a seed funding round.
The round included World Fund, Breakthrough Energy, Cambridge Enterprise, and IP Group. The funding will support team growth, further system development, and early steps toward commercial deployment of its refrigerant-free technology.
What The Company Does
Founded in 2019, Barocal is building heating and cooling systems based on barocaloric materials, which change temperature when pressure is applied. This approach removes the need for conventional refrigerant gases used in vapour-compression systems, which are widely deployed in air conditioning and refrigeration.
The company’s technology relies on pressure-induced phase transitions in advanced organic materials to generate heating and cooling effects. These systems are designed to offer an alternative to traditional HVAC technologies while maintaining or improving energy efficiency.
Historically, caloric materials have faced limitations related to cost, durability, and performance. Barocal’s underlying research, led by Professor Xavier Moya, identified a method to achieve higher efficiency and stability, forming the basis of the company’s patented platform.
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Market Context / Industry Background
Heating and cooling systems represent a significant share of global energy consumption and emissions. The sector accounts for an estimated 15 percent of global greenhouse gas emissions, driven largely by the widespread use of refrigerant gases and energy-intensive systems.
Cooling demand is expected to increase substantially over the coming decades, particularly due to urbanisation, rising global temperatures, and growth in data infrastructure. Data centres and commercial refrigeration are among the fastest-growing segments, both requiring efficient and scalable cooling solutions.
The broader HVAC market is projected to continue expanding, creating demand for alternative technologies that can meet regulatory pressure to reduce emissions while maintaining performance. As governments introduce stricter environmental standards, refrigerant-free systems are gaining attention as a potential long-term solution.
Emerging innovations such as liquid cooling, district cooling networks, and advanced heat recovery are being explored to address these challenges while improving overall system efficiency. Companies are investing in digital monitoring, AI-driven optimization, and smart building integration to reduce energy waste and operational costs. In parallel, policymakers are incentivizing retrofitting and the adoption of low-carbon technologies through subsidies and stricter building codes. Collaboration across industry, government, and research institutions will be critical to accelerate deployment at scale. Ultimately, the transition toward sustainable cooling will depend on balancing affordability, performance, and environmental impact, ensuring that growing demand does not translate into disproportionate increases in emissions worldwide while supporting resilient urban development and safeguarding public health in rapidly warming regions globally today.
Founder / Investor Commentary
Founder Professor Xavier Moya said that heating and cooling remain a major but often under-addressed contributor to global emissions. He described the company’s materials as having the potential to significantly change how temperature control systems are designed and deployed.
He added that reducing emissions from heating and cooling could play a substantial role in achieving global climate targets, and emphasised the importance of scaling the technology in partnership with investors.
Growth Plans / Use Of Funds
The newly raised funding will be used to expand Barocal’s team, advance engineering development, and prepare its systems for commercial use. Early application areas include data centre cooling and commercial refrigeration, where demand for efficient and sustainable solutions is increasing.
As the company progresses, it is expected to focus on scaling manufacturing and validating performance in real-world environments, which are key steps toward broader market adoption.
About Barocal
Barocal is a University of Cambridge spin-out developing solid-state heating and cooling technologies based on barocaloric materials. Founded in 2019 and headquartered in Cambridge, the company aims to replace conventional refrigerant-based systems with more efficient and environmentally sustainable alternatives for global temperature control.
