Climate tech company Aeroseal announced that it has raised $67 million, with funding aimed at advancing the company’s efforts solutions aimed at reducing carbon emissions from buildings.

Buildings are a key source of global greenhouse gas (GHG) emissions, and also one of the hardest to replace, given their long-term nature. Heating, cooling and ventilation (HVAC) accounts for around half of building emissions. According to the World Green Building Council almost 50% of the energy needed to heat or cool buildings is wasted through air duct leaks.

Founded in 2010, Ohio-based Aeroseal provides a technology that introduces a fog of non-toxic polymers into a building’s pressurized air ducts and envelopes, creating a gum that seals the ducts without requiring physical access to the locations, significantly reducing energy waste due to leaks in HVAC systems.

According to Aeroseal, its solution is 50% more effective at sealing duct leaks than traditional methods and can reduce labor time and costs for duct sealing by as much as 70%. The company said that it has already sealed over 260,000 homes and thousands of commercial buildings across 30 countries, resulting in a reduction of more than half a million tons of CO2 emissions.

Amit Gupta, CEO of Aeroseal, said:

“The industry is taking notice of this ‘easy button,’ with several top U.S. builders already adopting Aeroseal’s duct and envelope sealing technologies. We expect momentum to continue with increased demand for healthier energy-efficient spaces, tighter regulations, and greater statewide incentives for adopting newer codes.”

The Series B funding round was co-led by Bill Gates-founded investment firm Breakthrough Energy Ventures and decarbonization specialist investor Climate Investment, with new investors Beazer Homes and Aramco Ventures joining existing partners Building Ventures, 2150, and Energy Impact Partners.

Marc Van Den Berg, Global Managing Director for Ventures at Climate Investment, said:

“Aeroseal’s approach to reducing energy consumption in buildings by addressing air leakage is truly innovative and industry-leading. Its products have been proven to reduce energy consumption by an average of 30%, significantly impacting the environment and building operations. We are proud to have Aeroseal as a valued member of our Climate Investment portfolio.”

Allan Merrill, Beazer Homes CEO, added:

“Our decision to become an investor in Aeroseal reflects our belief that the company’s unique technology holds promise for the entire construction industry.”