More seed funding for Conry Tech

Conry Tech says the seed money from specialist climate tech investor Audacy will allow it to build its BullAnt air conditioner, which the company says can halve the energy bills of a commercial building. The BullAnt has been developed entirely in Australia to date, and Conry Tech will use its new investment to finish its development and expand its team. 

“The aim is simple: build the world’s best air conditioner,” says Conry Tech co-founder and CEO Sam Ringwaldt, M.AIRAH. 

“Like the iconic insect, our system is small, powerful, and distinctly Australian. We are building the BullAnt from scratch, with no off-the-shelf components, to be the most energy-efficient air conditioner on the market, and we have spent five years in R&D to get to this point.

“This raise allows us to now accelerate through the next steps of our go-to-market strategy. We believe this has the potential to revolutionise air conditioning, which is one of the largest sources of global electricity use and emissions.”

Fellow co-founder Ron Conry, L.AIRAH, says radical changes in approach are key to reducing energy use and emissions from HVAC technology.

“I’ve been in the air conditioning sector for 60 years, and it has barely changed,” Conry says. “With ambitious net zero targets on the horizon, we need genuine innovation to reduce soaring global HVAC emissions. It’s critical that new products like the BullAnt come to market as soon as possible, and it is our responsibility to make that happen.”

The news comes after Conry Tech raised $8.7 million in pre-seed funding earlier this year.

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