XNRGY Climate Systems, a North American manufacturer of high-efficiency liquid and air-cooling technologies, has secured growth equity financing from Decarbonization Partners (a joint venture between BlackRock and Temasek), Climate Investment (CI) and Activate Capital.
The funding will support the company’s expansion in the United States and the deployment of advanced cooling systems for data centres and other critical infrastructure. The new round follows earlier investments from Idealist Capital and MKB, both of whom remain shareholders, and marks Activate Capital’s second investment in XNRGY this year.
“We are delighted to partner with Decarbonization Partners, Climate Investment and Activate Capital as we enter this next phase of rapid expansion,” said Wais Jalali, Founder, Chairman and CEO of XNRGY. “Their experience, industry relationships and company vision align perfectly with our mission to lead through cutting-edge innovation and our dedication to delivering efficient and reliable data centre cooling solutions.”
Dr Meghan Sharp, Global Head and Chief Investment Officer of Decarbonization Partners, said: “We’re excited to support XNRGY’s growth as they scale up manufacturing to meet customer demand for energy-efficient cooling solutions, which are critical to the data centre infrastructure build-out. XNRGY’s unique solution directly aligns with Decarbonization Partners’ focus on next-generation energy investments that accelerate digital transformation.”
Patrick Yip, Managing Director and Head of Growth Equity at Climate Investment, added: “XNRGY is building a key thermal backbone of the AI era. As data infrastructure scales exponentially, the need for energy-efficient, high-performance cooling becomes mission-critical. Our investment reflects CI’s strategy to back companies that are both commercially scalable and climate-aligned.”
Anup Jacob, Managing Partner at Activate Capital, noted: “Data centres are among the most energy-intensive assets in the digital economy, and chillers define their thermal performance. XNRGY’s technical depth and domestic manufacturing capabilities position it to deliver the efficiency breakthroughs needed to support the AI-driven transformation of global infrastructure.”
The announcement follows XNRGY’s recent construction of Mesa 2, a 330,000 sq ft manufacturing facility in Arizona dedicated to producing next-generation air-cooled chillers integrating AI-driven controls. With operations in Mesa and Montreal, XNRGY’s total manufacturing footprint now approaches one million sq ft.
