Leading Climate Tech Company XNRGY Announces Phase One of its New Arizona Manufacturing Facility

• XNRGY recently completed a substantial growth capital raise from institutional investors, MacKinnon, Bennett & Co. (MKB) and Idealist Capital, and has obtained new developer financing for its Arizona plant construction from The Boyer Company
• The company secured financing for 275,000 sq. ft. of capacity, as well as an option for an additional 750,000 sq. ft. of manufacturing space, in order to meet rapidly growing customer demand
• XNRGY is positioned to become one of the largest providers of energy efficient climate solutions

MONTREAL, June 8, 2023 /PRNewswire/ - XNRGY Climate System ("XNRGY"), a leader in the design and manufacturing of energy efficient commercial HVAC systems, today announced that it has secured the financing for phase one of its U.S. headquarters in Mesa, Arizona. Located next to the Phoenix-Mesa Gateway Airport, the new Arizona facility will include 250,000 sq. ft. of production capacity along with 25,000 sq. ft. of office space and is expected to be completed by 2024. The financing has been provided by its new development partner, The Boyer Company. XNRGY has also secured additional options from The Boyer Company to finance an additional 750,000 sq. ft. of manufacturing space at the Mesa, Arizona site.

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The Arizona facility will add significant capacity and pan-North American coverage to better support its clients. Led by industry pioneers with decades of combined working experience, XNRGY is on a mission to reduce the carbon footprint of commercial buildings. XNRGY's high-performance HVAC systems are designed to increase energy efficiency, reduce costs, and provide superior indoor air quality to mission critical customers including hospitals, clean rooms, educational institutions, and data centers.

XNRGY's estimated investment and economic impact to Arizona of $300 million USD is significant and will create more than 1,200 employment opportunities. All construction phases are targeted for completion within 5 years.

"This expansion is reflective of our steadfast commitment to our customers by providing them with additional production capacity, shorter lead times, and the latest climate tech innovations," said Wais Jalali, the Founder, Chairman and Chief Executive Officer of XNRGY. "I am excited to embark on this next stage of growth with our valued partner, The Boyer Company, to better serve our customers," he said.

"With our new Arizona manufacturing facility, XNRGY will take the lead in sustainability and environmental impact through technology. We will continue to design and manufacture our climate technology solutions for our customers while also building a facility that itself reduces carbon footprint and water usage through our own innovations," said Larry Hopkins, Chief Technology Officer at XNRGY. "The facility's leading edge is further evidenced by the inclusion of an R&D Air Movement and Control Association (AMCA) Lab which will demonstrate visualization technologies for key metrics such as power usage efficiency and data center performance indicators," he said.

"XNRGY is exactly the type of company we hoped to attract to our Gateway East development," said Matt Jensen who is a partner with the project developer, The Boyer Company. "We are excited to get the initial building underway and look forward to helping XNRGY grow to meet proliferating customer needs."

About XNRGY Climate Systems

XNRGY is a privately held climate technology company that designs, engineers, and manufactures sophisticated, sustainable innovative solutions focused on reducing carbon footprint, water usage and energy consumption. Key products include large custom refrigeration and chilled water air handling units, vertical and horizontal CRAC and CRAH units up to 600 kW, clean room systems, energy recovery systems, low dewpoint EV manufacturing units, and factory installed turnkey controls platform. XNRGY uses BIM/CFD to prevent transient performance failures in mission-critical facilities. XNRGY looks at iso vectors and pressure distribution to design the most efficient systems for clients. This contributes to lower KW while delivering the maximum air to the buildings as well as adding to LEED and NET ZERO initiatives (Paris Climate Accord). To learn more about XNRGY, visit www.xnrgy.com

About The Boyer Company

The Boyer Company is a full-service developer and manager of industrial, retail, office, residential, medical, government, and other specialty property types. Boyer is a preferred development partner for a wide variety of public entities, having the expertise and financial stability to successfully work on public-private projects with a number of governmental entities. The company is focused on creating positive long-term relationships with clients. Boyer is one of the largest development firms in the Western United States having developed over 43 million square feet of commercial space since 1972. The company is currently working on over $1B in active development projects. To learn more about Boyer, visit www.boyercompany.com.

SOURCE XNRGY Climate Systems ULC