Barocal Raises $10M to Disrupt Century-Old Cooling Industry

CAMBRIDGE, United Kingdom – May 04, 2026 – Barocal, a deep-tech spin-out from the University of Cambridge, has secured $10 million in seed funding to commercialize a breakthrough solid-state cooling technology that promises to overhaul the global heating and cooling market. The investment round was led by climate tech investor World Fund and Breakthrough Energy Discovery, with participation from Cambridge Enterprise Ventures and IP Group.

The funding will accelerate the development of Barocal's patented refrigerant-gas-free system, which is designed to replace the century-old vapor-compression technology that powers virtually all of today's air conditioning and refrigeration units. The company aims to scale its engineering team and prepare for commercial deployment, initially targeting the rapidly growing cooling demands of data centers and commercial refrigeration.

A Solid-State Revolution for a Warming World

At the heart of Barocal's innovation are barocaloric materials—solid organic compounds that undergo significant temperature changes when subjected to mechanical pressure. Based on over 15 years of foundational research by founder Professor Xavier Moya, the technology leverages these materials in a system that avoids the need for potent greenhouse gases used as refrigerants in conventional systems.

Traditional vapor-compression cycles rely on the compression and expansion of chemical refrigerants, many of which have a global warming potential thousands of times greater than carbon dioxide. Leaks from these systems are a significant and often overlooked source of emissions. Barocal's approach eliminates this risk entirely by using solid, environmentally benign materials described as "plastic crystals."

In the Barocal system, applying pressure to these organic materials causes them to release heat; releasing the pressure causes them to absorb heat, creating a cooling effect. This process, part of a reversible thermodynamic cycle, has demonstrated remarkable potential. The company's current prototype has achieved a technical readiness level (TRL) of 5, delivering cooling power and temperature spans comparable to incumbent systems but with claims of significantly higher energy efficiency. While compressing a solid presents unique engineering challenges compared to compressing a gas, the potential benefits are substantial. Barocal's long-term goal is to deliver systems that are up to three times more efficient than their traditional counterparts.

"Heating and cooling have always been the elephant in the room when it comes to emissions, and ours is a set of materials that could change history," said Prof. Xavier Moya, Founder of Barocal. "We are building something truly revolutionary."

Targeting the Hottest Markets

Barocal is entering a colossal market. The global heating, ventilation, and air conditioning (HVAC) sector is valued at approximately $450 billion and is projected to surge past $577 billion by 2033. This industry is also a massive contributor to climate change, responsible for around 15% of all global greenhouse gas emissions—a larger share than the entire aviation sector.

Cooling alone is a major driver of this impact, accounting for over 4 gigatons of CO₂-equivalent emissions in 2022. With global demand for cooling expected to triple by 2050 due to rising temperatures and economic growth, a more sustainable solution is urgently needed. Barocal is initially focusing its efforts on data centers, one of the fastest-growing consumers of energy globally. The immense heat generated by servers requires constant, powerful cooling, making these facilities a prime target for efficiency gains and emissions reductions.

By offering a solution that is not only cleaner but also more energy-efficient, Barocal aims to provide a compelling economic and environmental case for adoption, promising to lower operational costs for data center operators while helping them meet increasingly stringent sustainability targets.

From Lab Bench to Global Stage

Barocal's journey began in the labs of the University of Cambridge, where Prof. Moya, a leading expert in caloric materials, dedicated years to exploring solid-state alternatives to conventional cooling. His research, funded by the Royal Society and the European Research Council, led to the discovery of a class of organic barocaloric materials that demonstrated unprecedented performance without the cost, degradation, or fatigue issues that have hindered other caloric technologies.

This scientific breakthrough formed the basis for Barocal, which was founded in 2019 to translate this deep-tech innovation into a commercially viable product. The company's potential was recognized early on, earning it a spot in the prestigious Breakthrough Energy Fellows program and the $1 million TERA-Award in 2025. The new $10 million in funding from a syndicate of top-tier climate and deep-tech investors marks a critical inflection point, providing the capital needed to move from prototype to product.

"Barocal has achieved what scientists have struggled to do for decades – a materials breakthrough delivering solid-state materials that finally enable new cooling and heating platform technology that competes with vapour-based incumbents," commented Mark Windeknecht, Principal at World Fund. Ashley Grosh, Head of Breakthrough Energy Discovery, added, "This most recent investment reflects our continued confidence in the team as they scale a solid-state alternative to vapour compression that is cleaner, more efficient and fundamentally rethinks how we deliver comfort."

Navigating Regulatory Tailwinds and Market Hurdles

The timing for Barocal's market entry could not be better. Governments worldwide are tightening regulations on fluorinated gases (F-gases). The Kigali Amendment to the Montreal Protocol mandates a global phasedown of hydrofluorocarbons (HFCs), while the EU's F-Gas Regulation is creating immense pressure on industries to adopt low-GWP alternatives. This regulatory environment provides a powerful tailwind for Barocal's refrigerant-free technology.

However, the path to market is not without challenges. The HVAC industry is dominated by established giants, and disrupting a century-old standard requires not only superior technology but also a robust commercialization strategy. Achieving cost parity with entrenched vapor-compression systems will be crucial for widespread adoption. Barocal plans to navigate this by partnering with Original Equipment Manufacturers (OEMs) to leverage their scale and manufacturing expertise, aiming to make its technology a seamless replacement within existing product lines.

Dr. Lee Thornton, Partner at IP Group plc, which contributed £2 million to the round, highlighted the transformative potential. "Barocal’s innovation promises massive efficiency gains in heat transfer systems for data centres, refrigeration, and home cooling, which will result in material reductions in energy and climate impacts."

With fresh capital and the backing of influential investors, Barocal is now positioned to accelerate its mission. The company will focus on scaling its team with key technical and commercial hires, advancing system development, and initiating demonstration projects to prove the technology's value in real-world applications before a full commercial launch.