Barocal
Liquid Cooling Systems Thermal Management
Retrieved sources
[1] Barocal — https://barocal.com/
Barocal develops solid-state cooling and heating systems using novel caloric materials, or solid refrigerants, that it says can deliver 2–3× higher energy efficiency while eliminating harmful refrigerant gases. [1] The provided company metadata lists its headquarters at Newmarket Road, Cambridge, England, a workforce of 16, and funding rounds including a $10.0 million seed round dated May 1, 2026. [1]
Value Proposition & Features
Barocal is a University of Cambridge spin-out commercializing solid barocaloric refrigerants for cooling and heating. [2] Its proposition is to replace gas-based vapor-compression refrigerants with inexpensive, non-toxic organic solids that absorb and release heat when pressure changes their volume. [2]
The technology targets air conditioners, refrigerators, heat pumps, and potentially high-density computing environments. [2] Barocal’s second-generation prototypes reportedly perform comparably to market vapor-compression systems, while a third generation is in development. [2]
Solid State Refrigerants that avoid harmful refrigerant gases. [1]
Barocaloric operation using pressure-driven volume and phase changes to transfer heat. [2]
Higher efficiency, with the company claiming 2–3× improvement over conventional approaches. [1]
Non-toxic organic materials described as inexpensive and safe. [2]
Cooling and heating in a single materials platform. [1]
Modular, scalable systems intended for multiple cooling applications. [1]
Potential data-center relevance as an alternative to conventional air- and liquid-cooling infrastructure. [2]
The technology could pair with Liquid Cooling Systems where operators need more efficient thermal management for dense computing loads.
Screenshots
No three official product screenshots were identified in the retrieved material.
Product Roadmap / Announcements
As of October 6, 2026,
May 2026: Barocal reportedly raised a $10 million seed round to advance its solid-state cooling technology. [2]
2026: The company’s second-generation prototypes were reported to be performing on par with vapor-compression systems, with third-generation technology in development. [2]
Recent Developments
No reliable source found for a clearly attributable Barocal announcement within the 90 days preceding October 6, 2026. A search result reports a May 2026 $10 million seed round, but it does not provide a primary Barocal announcement. [2]
History and Origin Story
Barocal was founded in 2019 by Xavier Moya, a materials physicist and University of Cambridge professor, as a Cambridge spin-out commercializing solid barocaloric refrigerants. [2] Moya’s research focuses on functional materials whose thermal, structural, magnetic, and electrical properties are coupled. [2]
Fundraising History
| Round | Date | Amount | Lead investor |
| Grant | November 15, 2019 | Not disclosed | Not disclosed |
| Seed | February 15, 2022 | $1.8M | Not disclosed |
| Grant | October 1, 2024 | $2.7M | Not disclosed |
| Seed | December 1, 2025 | £6.7M | Not disclosed |
| Seed | May 1, 2026 | $10.0M | World Fund, Breakthrough Energy Discovery, Cambridge Enterprise Ventures, and IP Group [2] |
| Total | — | At least $14.5M plus £6.7M and an undisclosed 2019 grant | — |
Breakthrough Energy Discovery
Cambridge Enterprise Ventures
IP Group
World Fund
Notable Team Members
Xavier Moya — Founder. Moya is a materials physicist, University of Cambridge professor, and founder of Barocal. [2] His research centers on caloric materials and coupled phase-transition properties. [2]
Market Sizing
Category, Market Size, and Category Growth
Barocal operates in solid-state thermal management, specifically barocaloric cooling and heating, with potential applications in HVAC, refrigeration, heat pumps, and data-center cooling. [1] A retrieved profile places the broader global HVAC market at approximately $450 billion, projected to reach roughly $577 billion by 2033. [2]
The broader solid-state cooling market includes thermoelectric, magnetocaloric, electrocaloric, elastocaloric, barocaloric, and related technologies. [3] The retrieved sources do not provide a reliable standalone market-size estimate for barocaloric cooling specifically.
Pricing
| Tier | Price |
| Commercial product pricing | No public pricing |
| Prototype or pilot pricing | No public pricing |
Revenue Trajectory Estimates
No reliable public revenue or ARR figure was found.
Competitive Landscape
Who it's for, who it's not for
Barocal is aimed at HVAC, refrigeration, heat-pump, and other cooling-system developers seeking efficient alternatives to vapor-compression systems, as well as operators facing energy and thermal constraints in dense computing environments. [2] Its reported prototype performance and solid-refrigerant approach suggest a focus on industrial and commercial applications rather than consumer software or standalone hardware purchases. [2]
It is not currently positioned as a general-purpose software product, a conventional data-center liquid-cooling vendor, or a publicly priced off-the-shelf appliance. The available material describes prototypes and technology development rather than a broadly available commercial product. [2]
Viable Alternatives
Vapor-compression HVAC and refrigeration: The incumbent technology against which Barocal’s prototypes are reportedly benchmarked. [2]
Thermoelectric cooling: Another solid-state cooling category included in broader solid-state cooling-market coverage. [3]
Magnetocaloric cooling: A competing caloric approach based on magnetic rather than pressure-driven material changes. [3]
Direct to Chip Liquid Cooling: A data-center alternative for removing heat from high-density AI and computing hardware. [4]
Immersion Cooling: A data-center approach competing for high-density thermal-management deployments. [3]
Competitor Table
| Competitor | Description |
| Daikin | Large HVAC and refrigeration supplier with conventional precision-cooling and heat-management systems. [5] |
| Carrier | Major HVAC and refrigeration manufacturer serving commercial and data-center cooling markets. [5] |
| Johnson Controls | Supplier of building-management and data-center cooling systems, including CRAH equipment. [5] |
| Schneider Electric | Provider of data-center cooling and integrated energy-management systems. [5] |
| ZutaCore | Liquid-cooling company competing in high-density data-center thermal management. [6] |
Sources
Sources (retrieved)
Sources
- [1]Exa.aiexa.ai
- [2]Xavier Moyaedgechat.ai
- [3]Global Active, Passive and Solid-State Cooling Marketglobenewswire.com
- [4]
- [5]
- [6]Data Center Market Funding News (September 2026)newmarketpitch.com