XNRGY closes growth equity financing to expand capacity

XNRGY’s Arizona Facility Office Design (Photo: CNW Group/XNRGY Climate Systems ULC)

MONTREAL — XNRGY Climate Systems (XNRGY), announced the close of a growth capital raise co-led by MacKinnon, Bennett & Co. (MKB), a growth equity firm focused on the energy transition, and Idealist Capital, a private growth capital fund focused on the energy transition and decarbonization sectors.

“XNRGY is at the forefront of climate technology and this latest substantial investment by prominent institutional investors backed by leading Canadian sovereign and financial institutions, is a testament to how XNRGY will continue to deliver on our client’s net zero and energy savings goals,” said Wais Jalali, the Founder, Chairman and CEO, XNRGY. “We’re pleased to work closely together with investors MKB and Idealist Capital on this exciting road ahead.”

XNRGY is on a mission to reduce the carbon footprint of commercial buildings through its HVAC systems that are designed to increase energy efficiency, reduce energy costs, and provide superior indoor air quality to mission critical customers such as hospitals, clean rooms, educational institutions and data centers.

This funding will enable XNRGY to expand its current facility in Montreal, Canada by 100,000 square feet of production capacity and replicate a new facility in Mesa, Arizona with 250,000 square feet production capacity. These manufacturing facilities will accelerate the ability of its world-class team and technology to meet the rapidly growing demand of its customers spanning coast to coast.

“We’re tremendously impressed with XNRGY’s approach to decarbonizing HVAC, their superior, world-class climate technology and their leadership team. We’re proud to support XNRGY as they scale their business and generate a positive climate impact for their clients,” said Pierre Larochelle, Co-Managing Partner at Idealist Capital.