Advantix Systems has its origins in a company established in the 1980s in Israel by three brothers who wanted to build an ice rink. Their quest to keep ice cool led the company to the development of a liquid desiccant based on salt water from the Dead Sea that removes humidity from the air.
Heating, Ventilation and Cooling (HVAC) systems account for around 30% of electricity used in US homes. Advantix claims its systems reduce energy demand by 35%-50%.
For more on challenges to the electricity system posed by air conditioning, read: Looking To Past, Future For Heat-Beating Methods.
In this podcast, Hannah Granade, president of US operations, explains how companies such as Advantix are managing to break into a fiercely competitive but risk averse industry, which has seen no major breakthroughs in technology for 60 years.
Granade says that her company is well positioned for growth in an expanding market rather than just taking market share in an industry dominated by around five incumbents who have favored incremental change over innovation.
Last year Advantix closed out a round of funding through Matlin Patterson, a private equity firm with $9 billionn under management.
Before joining Advantix, Granade was the lead author of the groundbreaking McKinsey report in 2009 that identified a potential $1.2 trillion in economic savings in the US through energy efficiency alone.