Windsail Capital Group
Assembly Line
Axiom Cloud Closes $5 Million in Funding to Accelerate Deployment of Refrigerant Leak Detection Software
Axiom Cloud, announced that it closed $5 million in funding from Toshiba Tec and Windsail Capital Group. This funding aims to accelerate the deployment of the company’s AI-powered “Early Leak Detection” (ELD) module, which detects refrigerant leaks earlier without requiring any new onsite hardware or sensors. Axiom Cloud’s technology and services will be especially vital as facilities move to comply with recently-announced EPA regulations outlined in the American Innovation and Manufacturing (AIM) Act, which restrict commercial emissions of Hydrofluorocarbons (HFCs) through refrigerant leaks and other sources.
Subsection (h) of the AIM act, “Management of Regulated Substances,” announced in October 2023, mandates that the approximately 20,000 U.S. facilities must install Automatic Leak Detection (ALD) systems in commercial refrigeration appliances within 12 months after the final rule goes into effect. The AIM act has been called “the single-most effective climate action taken in the US” in part because it aims to cut HFC production and consumption by 85% over the next 15 years.