Barocal Acquired | Technology M&A Deal

World Fund and Breakthrough Energy Discovery, alongside Cambridge Enterprise Ventures and IP Group, has completed the acquisition of Barocal, a technology other business in Cambridge, United Kingdom, for $10M. Barocal commercialises refrigerant-gas-free solid-state cooling and heating platform technology based on barocaloric materials that use pressure-driven phase transitions to deliver temperature change. The company targets the heating, ventilation and air conditioning market with an initial focus on data centre cooling and commercial refrigeration, aiming for cost parity versus vapour-compression systems. The private equity acquisition is structured as a seed round to scale engineering and commercialisation, with funding intended to support key hires and accelerate system development ahead of commercial deployment.