Promethient Inc. in Traverse City, which provides climate control technology for a range of industries, has announced that Penrose Partners has led the company’s Series B investment round. Details of the round were not disclosed.
Founded in 2012, Promethient designs and produces human-scaled climate control technology used for cooling and heating of seating in marine, off-road, construction, powersports, stadium seating, and furniture markets.
Most recently, Promethient provided the heating and cooling climate control technology for the Home Plate Club, a new offering of 350 seats located behind home plate at Comerica Park in downtown Detroit. The seats were designed by Figueras in Spain.
The seats utilize Promethient’s Thermavance technology, where “advanced thermoelectric devices combined with graphene deliver efficient, localized heating and cooling, enhancing comfort in various environments.”
Penrose Partners was founded by Andrew Gendron and Tom Gendron, the former chairman and CEO of Woodward Inc.
The strategic infusion of capital, the organizations state, will accelerate the commercialization of Promethient’s Thermavance technology across multiple industries, including power sports, mass transit, stadiums, furniture, and wearable applications.
“Penrose Partners investment is a significant endorsement of our mission to revolutionize personal climate control,” says Bill Myers, CEO of Promethient.
“(Tom) Gendron, who served as CEO of Woodward, Inc. until 2022, brings a wealth of experience in guiding technology companies through growth phases. His involvement will help Promethient strategically advance its product development plan and market penetration efforts.
Promethient has previously secured investments from Boomerang Catapult, Northern Michigan Angels, Michigan Rise, and the Michigan Outdoor Innovation Fund.
“The support from our investors, including industry leaders like Tom Gendron, positions Promethient to meet the growing demand for efficient, adaptable personal climate control solutions,” Myers adds. “We are committed to delivering innovative products that enhance comfort and energy efficiency across a diverse range of applications.”
For more information, visit thermavance.com.
