Aeroseal Aims to Reduce Carbon Emissions and Develop Workforce
22 Jul 2021
Providing significant funding to area businesses to enhance their operations and the development of their talent pipeline is a specialty of venture capital firms. For Miamisburg-based Aeroseal, hard work and the potential to create a positive impact on the environment left several investors wanting more.
Aeroseal recently entered a $22 million partnership with Breakthrough Energy Ventures, Energy Impact Partners, and Building Ventures to scale up production, hire additional innovative minds and reach its goal of eliminating one gigaton of carbon emissions from buildings. The climate technology company showcases a prosperous history in Montgomery County, Ohio. Since its inception in 2010, it has hired more than 100 employees, collaborates with dealers in all 50 states and deploys products to 27 countries.
“We’ve grown organically since launching in 2010, but saw hurdles with growth as we looked to penetrate a large market with more than 100 million homes who need our solutions,” said Daniel Crowe, chief financial officer. “Our new partners thoroughly understand the technology we develop as well as provide resources and experience to support our efforts in ensuring proper building conditions.”
Funding provided by these venture capital firms will allow Aeroseal to ramp up development plans and make its technologies more effective and easier to use. With key focuses on energy efficiency and comfort, the product line helps seal air leaks in homes and businesses to improve airflow and indoor air quality — and saves customers money on their electric bills.
“The timing of this partnership is critical as the current administration has an increased focus on climate change,” shared Crowe. “Additional resources and expertise positions Aeroseal to help negate climate issues and assist the United States to strive for a better environment.”
With increased operational efficiencies comes the opportunity to hire additional support. From technology and engineering to human resources and finance, Aeroseal is looking to hire 70 more employees in the next 18 months. It also plans to consolidate its two locations to expand its single headquarters in Miamisburg.
“The future of our business is energizing our team as they’re able to participate in sharing our product solution with the world,” explained Crowe. “We continue to provide a best-in-class workspace as well as helpful tools for our employees, and we’ve let them know that any idea for investing in the business may accelerate growth.”
As Crowe and his team reflect on the past 11 years, they are especially pleased with the support and guidance received from organizations such as BusinessFirst! for a Greater Dayton Region. Aeroseal is a previous recipient of a Montgomery County ED/GE Grant, which helped support its building expansion and on-the-job training.
“Our CEO Amit Gupta came to the region from Syracuse, New York because he knew the area contained the talent needed to drive innovation and growth,” stated Crowe. “Our relationship with BusinessFirst! is very strong, and we’re excited to continue partnering as we expand our service provider relationships and raise awareness around our product solutions.”
To learn more about Aeroseal and its latest achievements, visit its website.