We recently announced that Turntide raised a new round of funding that valued our company at over $1 billion.
This is a big milestone for Turntide, but in the long run, it’s not the most important. We’re a mission-driven company, and that mission is to optimize how humanity uses energy. It’s massively ambitious, and it needs to be. Climate science is sounding an alarm to act now.
At Turntide, we are committed to solving the world’s most difficult problems and do not shy away from a challenge. We are tackling, head-on, some of the toughest industries to decarbonize – commercial buildings, agriculture, and transportation. We built a team of the smartest engineers, data scientists, executives, and specialists to help us scale and conquer these challenges — with the right technology at the right time.
This new investment, in the midst of a challenging financial environment, is further validation of the impact and future potential of climate tech. As we head into another hot summer, we know that time is of the essence for civilization to achieve our zero-emission goals. Electrifying the world’s combustion-powered systems while also making energy consumption more efficient across all seasons and all times of the day is the only pathway to that future.
We’re gearing up for some new announcements about Turntide Electrification, our suite of world-class powertrain components designed to clean up the commercial and industrial machines that produce most of the world’s vehicle emissions. Longer-term, we can leverage our unique motor technology to remove the need for scarce and expensive rare earth minerals.
In the built environment side of our business, in Q1 we launched Turntide for Strategic Machines, a solution for OEMs to make their equipment more intelligent, effective, and energy-efficient. Our first customer for this solution is XNRGY, the market leader in fan arrays for data centers. XNRGY is embedding the Turntide Smart Motor System™ into their fans to maintain environmental conditions for a fraction of the energy typically used in mission-critical cooling environments like data centers, laboratories, etc.
This is tremendously important for our climate. Data centers currently use about 2% of the world’s electricity, which is expected to increase eightfold by 2030. About 40% of that energy keeps the building cool, which makes the energy efficiency of those facilities critical for the future of our planet.
This new funding will allow us to continue investing in engineering and product development as we improve and expand the capabilities of our products.
As carbon emissions continue to climb and oil and gas shortages associated with the war dramatically increase energy prices, the demand for climate tech has never been more urgent. With escalating energy prices, efficiency upgrades pay for themselves quickly, making the economic case for climate tech stronger than ever.
Turntide is already playing an influential role in this transformation from dirty combustion systems to clean, efficient, and intelligent electric systems in industrial and commercial vehicles. But we have a long, long way to go.
Technology can’t save the planet alone. It takes people to get to net zero. Our 500+ Tideturners across three continents are proud to support our diverse customers and partners, and our investors have been incredibly supportive in helping us break into new markets and geographies.
Thanks for being part of the effort to turn the tide on climate change.
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