Harvest Thermal Partners with Enduring Planet to Scale Smart Thermal Energy Storage

Harvest Thermal is revolutionizing residential energy with its Smart Thermal Battery™—a game-changing solution for home heating, cooling, and hot water without reliance on gas. The system combines a highly efficient air-to-water heat pump with an insulated thermal storage tank and the Harvest Pod® controller, which smartly manages energy use by storing low-cost, clean electricity during the day and distributing it during peak hours. This approach not only cuts energy costs by up to 30% but also reduces CO₂ emissions by up to 90% compared to traditional gas systems.

Harvest Thermal’s systems are already in operation across single-family homes and multifamily buildings in key U.S. states and Canada, validating the technology and its market fit. Recognized as a leader in residential decarbonization and grid flexibility, Harvest was named to TIME's Top GreenTech Companies and awarded the Reuters Global Energy Transition Award.

As a climate-tech company with proven technology and increasing demand, Harvest was ready to scale but faced challenges securing financing. Traditional lenders often failed to understand the value of non-revenue sources like grants and discounted them heavily, leaving Harvest looking for a financial partner who could see the potential of its business model.

Enduring Planet partnered with Harvest Thermal to:

• Provide non-dilutive financing, unlocking critical capital without diluting ownership
• Offer flexible loan terms with no personal guarantees, ensuring lower financial risk for the company
• Create a customized repayment structure that aligned with the company's unique cash flow, moving away from traditional principal-plus-interest models

Enduring Planet’s deep understanding of the clean-tech landscape allowed us to tailor a loan structure that considered both grant income and conventional revenue, making us the ideal partner to support Harvest’s next phase of growth. Owing to this innovative financing solution, Harvest Thermal is poised to accelerate its mission to decarbonize homes and create a cleaner, more resilient grid.

What made Enduring Planet the right fit for Harvest was straightforward: they could lend against our grants. We have contracted, government-backed funding that most lenders simply don’t know how to underwrite. Enduring Planet understood it immediately and structured a deal that reflected the real strength of our business. That kind of financial creativity—combined with mission alignment—is genuinely rare.

Jane Melia

Co-Founder & CRO, Harvest Thermal