Takeaways

• Conry Tech has raised $3 million in seed funding to accelerate development of its BullAnt air-conditioner, which aims to cut commercial energy bills by half.
• The company’s innovation could revolutionize the HVAC industry, reducing global emissions from air conditioning.
• Backed by Audacy, the funding marks a step toward Conry Tech’s planned $13 million Series A round in 2026.

Melbourne-based climate tech company Conry Tech has secured $3 million in seed funding to advance the development of its BullAnt air-conditioner, a next-generation system designed to halve energy costs for commercial buildings.

The funding round was led by Audacy, a specialist investor in climate technology. It sets the stage for Conry Tech’s planned $13 million Series A round in 2026, as the company moves closer to commercializing its innovative HVAC (heating, ventilation, and air conditioning) system.

Reinventing Air-Conditioning for a Low-Carbon Future

Founded in 2020 by Ron Conry, Sam Ringwaldt, and Brenda Ringwaldt, Conry Tech is on a mission to redefine air-conditioning efficiency and cut global emissions by a billion tonnes. The startup’s BullAnt air-conditioner, currently under development, promises to deliver superior energy performance through a fully re-engineered system built from the ground up.

“The aim is simple: build the world’s best air-conditioner,” said Conry Tech CEO Sam Ringwaldt. “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.”

The latest capital injection will support Conry Tech’s next phase of development, including product finalization, team expansion, and preparations for market entry.

Read More: Climate Technology: The Path to Net Zero and Sustainability

A Veteran’s Vision for Change

CTO Ron Conry, a 60-year veteran of the HVAC sector and inventor of the Turbocor compressor, said the industry has seen little innovation in decades. “With ambitious net-zero targets on the horizon, we need genuine innovation to reduce soaring global HVAC emissions,” he said.

Conry hopes to see the BullAnt manufactured in Australia, adding that domestic production would help strengthen local manufacturing and accelerate the transition to sustainable cooling technologies.

Investor Confidence in Cooling Innovation

According to Toby Chan, partner and co-founder at Audacy, Conry Tech’s decentralized HVAC design offers “transformative potential” for commercial buildings and data centers, both major consumers of electricity.

“Cooling demand is projected to grow significantly globally, particularly in APAC, where rising temperatures, rapid urbanization, and economic growth demand new innovations in the HVAC industry,” Chan noted. “Conry Tech’s decentralized HVAC solution offers transformative potential, significantly reducing electricity consumption in commercial buildings and data centers.”

Audacy, which invests in early-growth-stage clean technology firms, views Conry Tech as a strong contender in the climate tech hardware space with proven leadership and global scaling potential.

Also Read: Why Climate Tech Is the Next Big Frontier for Entrepreneurs

With its bold vision and strong investor backing, Conry Tech’s BullAnt air-conditioner could mark a turning point for sustainable cooling, cutting costs, lowering emissions, and reshaping the future of energy use in buildings.

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Source: BUSINESS NEWS AUSTRALIA