Barocal is replacing harmful refrigerants with high-efficiency solid-state cooling technology for the $500B global HVAC market.

Cambridge-based Barocal is commercialising solid-state cooling using barocaloric materials, a breakthrough resulting from 15 years of research at the University of Cambridge. Instead of cycling high-GWP refrigerant gases like conventional systems, Barocal’s technology applies pressure to proprietary solid-state barocaloric materials to transfer heat. This eliminates refrigerant leakage and the emissions associated with it.

Why we invested in Barocal

The climate case: Cooling emits over 4 Gt CO₂e annually, accounting for more than 7% of global greenhouse gas emissions, which makes it one of the largest decarbonisation blind spots. These emissions come from HFC refrigerant leakage, which often have global warming potentials more than 1,000 times higher than CO₂, as well as from the energy intensity of cooling itself. Cooling demand is projected to triple by 2050, further increasing these emissions. Barocal directly addresses both leakage and energy consumption by eliminating refrigerant gases entirely and delivering significantly higher efficiency than existing solutions.

The business case: The global HVAC market is worth approximately $450 billion and is expected to grow to $577 billion by 2033. Barocal is initially focused on commercial chillers and data centre cooling, targeting some of the fastest-growing and most profitable segments. The company is working in collaboration with large OEMs to bring the technology to market. In addition to the emissions benefits, higher efficiency reduces energy costs and results in a lower total cost of ownership for customers.

The team: Prof. Xavier Moya, Co-Founder and CEO, is a Professor of Materials Physics at the University of Cambridge and a globally recognised pioneer in caloric materials and barocalorics. He has authored more than 150 scientific publications with over 15,000 citations. He founded Barocal to commercialise his breakthrough research, funded by the Royal Society and the European Research Council. Dr. Giles Rodway, Co-Founder and CTO, brings decades of industrial R&D experience from the automotive sector and previously founded Spinetic, combining deep engineering expertise with proven entrepreneurial credibility.

Website: https://barocal.com/