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§ Private Profile · Costa Mesa, CA, USA
thermal energy storage systems for buildings freeze water into ice, reducing peak electricity demand by up to 95% and lowering utility costs.
Ice Energy, based in Costa Mesa and Rocklin, California, develops thermal energy storage systems that freeze water into ice during off-peak hours to cool buildings during peak demand. Their flagship Ice Bear product targets commercial and industrial buildings, while the Ice Cub addresses residential and small commercial applications, integrating with existing HVAC systems to reduce peak load by up to 95%. The company operates a 25.6 MWh virtual power plant program across over 100 sites, delivering more than 45 GWh since 2020 and accumulating over 100 million operating hours. Customers, including Southern California Edison, have seen bill savings up to 20% by utilizing these solutions. Ice Energy is a portfolio company of Argo Infrastructure Partners LP. Founded in 2003.
Ice Energy has raised $64.0M across 2 funding rounds.
Ice Energy has raised $64.0M in total across 2 funding rounds.
Ice Energy has raised $64.0M across 2 funding rounds. Most recently, it raised $40.0M Other Equity in June 2018.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 26, 2018 | $40M Venture Round | Hugh AU | — | Announced |
| Oct 18, 2010 | $24M Series C | — | Energy Capital Partners, Good Energies, Sail Ventures, Pete Higgins, TIAA Ventures | Announced |
Ice Energy has raised $64.0M in total across 2 funding rounds.
Ice Energy's investors include Hugh Au, Energy Capital Partners, Good Energies, Sail Ventures, Pete Higgins, TIAA Ventures.