Daikin Industries invests in breakthrough energy ventures to achieve net-zero

To achieve net-zero, Daikin is tackling the difficulties of developing technologies such as Direct Air Capture (DAC), Carbon Capture and Utilisation (CCU), energy management, and power generation.

Daikin Industries, a global leader in heating, ventilation, air conditioning, and refrigeration (HVAC&R), disclosed its investment in Breakthrough Energy Ventures Select Fund I (BEV Select Fund I), a new venture capital fund managed by Breakthrough Energy Ventures (BEV).

Daikin has rapidly encouraged the broad use of high-efficiency inverter air conditioners and heat pumps, as well as the use of low-GWP (Global Warming Potential) refrigerant, R32, under its current strategic management strategy, “FUSION25”. Daikin is also expanding its efforts in new business sectors connected to negative emissions and power, with the goal of reaching net-zero by 2050.

To achieve net-zero, Daikin is tackling the difficulties of developing technologies such as Direct Air Capture (DAC), Carbon Capture and Utilisation (CCU), energy management, and power generation. To further expedite these advances, Daikin will extend its climate tech research and engage with entrepreneurs at the forefront of these sectors, such as BEV.

“The key issue for us is how to integrate technologies such as DAC and CCU into our business to achieve net-zero by 2050. In these areas, there are advanced technological and business initiatives mainly in the U.S. and Europe, and challenges, information, and knowledge for social implementation of these technologies are gathered among startups in these regions and Breakthrough Energy,” said Yuji Yoneda, Senior Executive Officer and General Manager of Daikin’s global Technology and Innovation Center. “We believe that our strength in heat pumps can contribute to achieving net-zero through collaboration with startups and technologies in these areas.”

BEV Select Fund I, which Daikin decided to invest in, is a later-stage investment vehicle created to support climate tech companies that have overcome core technical hurdles and are either on the verge of commercial deployment or are already in the marketplace generating revenue.

“The world’s entrepreneurs and innovators have made incredible progress unlocking solutions to some of our toughest climate challenges over the past few years. We’re honored to help them build great companies and are thrilled that their groundbreaking technologies are ready to make an impact,” said Carmichael Roberts, Managing Partner of BEV. “Daikin’s investment is validation that by investing in innovation with entrepreneurial know-how and technical expertise, we can build a clean energy future.”

Daikin is committed to formulating initiatives that not only preserve but also improve the environment. This commitment is extended to advancing the development of innovative products and technologies aimed at fostering a more environmentally healthy world, collaborating with external partners.