Ice Energy
- Company typePrivate
- Founded2003
- HeadquartersCosta Mesa, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Ice Energy does
Ice Energy is a Costa Mesa, California-based private company that has been operating since 2003 in utility-scale distributed energy resources and thermal energy storage for clean-energy applications. Its core product is an ice thermal energy storage system — commonly referred to as "ice batteries" — that produces and stores ice during off-peak hours and uses it to provide building cooling during peak electricity demand. Functionally, the system integrates with commercial HVAC and chiller infrastructure to shift air-conditioning electrical load away from grid peak periods, addressing three connected problems: high energy costs during peak demand, grid strain during peak usage, and the decarbonization of cooling for buildings.
The company's revenue mechanics are project-based: it sells and deploys thermal storage hardware and integrated controls to building owners and operators, with deployments sized to the cooling load of each facility. Pricing is not publicly disclosed. End markets span commercial buildings and facilities, with explicit focus areas in hospitals and data centers — sectors where reliable cooling and grid-resilience economics are particularly high-value. The business has raised approximately $132 million across five institutional funding rounds between 2006 and 2018, with Argo Infrastructure Partners serving as the lead investor in the 2018 round and the firm described as Ice Energy's parent/backing entity within Argo's sustainable infrastructure portfolio. Joe Draper serves as Executive Chairman.
Ice Energy operates within the broader thermal energy storage market, which third-party market research sizes at $9.4 billion in 2025 and projects to grow to $27.6 billion by 2036 at a 10.3% CAGR. It is positioned alongside Siemens Energy, Trane Technologies, Aalborg CSP, and EnergyNest as a key market player, with its technology sitting in the sensible-heat storage sub-segment that represents 52% of the storage-type market. As of the available data, the company has a small employee base (11–50), no publicly disclosed revenue, and no documented AI/ML capabilities, making it a capital-intensive hardware-led infrastructure business whose growth is tied to deployment velocity and policy support for peak demand reduction and grid-flexibility programs.
Ice Energy firmographics
Firmographics- Name
- Ice Energy
- Legal name
- Ice Energy
- Website
- https://ice-energy.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Ice Energy industry classification
Industry- Product category
- Thermal Energy Storage Systems
- NAICS
- Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Steam and Air-Conditioning Supply (22133)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580), Steam & Air-Conditioning Supply (4961)
- akta.pro primary industry
- Ice Thermal Energy Storage (Chilled Water & Ice Storage for HVAC) (EUAFANAA)
- akta.pro secondary industry
- Cold Chain & Refrigeration TES (Warehouses, Food & Pharma) (EUAFANAJ)
Keywords
Where Ice Energy is headquartered
LocationHeadquarters
- HQ city
- Costa Mesa
- HQ country
- United States
- HQ region
- North America
Markets served
Ice Energy business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales
Ice Energy product offering
Product offeringCore offering
Ice Energy develops and sells ice thermal energy storage systems (commonly called ice batteries) that produce and store ice during off-peak electricity hours and use it to provide sustainable air conditioning for buildings. The systems target commercial buildings and facilities such as hospitals and data centers, reducing peak electricity demand, lowering energy costs, and alleviating grid strain.
Differentiator
Problem solved
Functional benefit
Products and services
- Ice Energy Ice Battery (Ice Thermal Energy Storage System)
Companies that use Ice Energy
Customer profileSegments1 record
Ideal customer profiles1 record
Ice Energy technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Ice Energy partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights4 records
Ice Energy competitors and assessment
Company assessmentBroad incumbents
- Trane Technologies: Trane Technologies is a global HVAC incumbent that offers ice and chilled-water thermal storage as part of a much broader commercial HVAC/chiller portfolio, competing with Ice Energy for large commercial and institutional cooling customers.
- Carrier Global: Carrier supplies chillers, HVAC, and commercial refrigeration globally with thermal storage as part of its building solutions portfolio; a broad incumbent overlapping on chilled-water/ice TES for commercial cooling use cases.
- Siemens Energy: Siemens Energy operates a broad power generation and grid portfolio that includes grid-scale thermal storage offerings, identified alongside Ice Energy as a leading TES market player; competes at the utility scale rather than Ice Energy's niche.
Direct peers
- CALMAC: CALMAC manufactures ice-based thermal energy storage tanks specifically for commercial HVAC cooling load shifting - the most direct product overlap with Ice Energy's ice-battery systems, and they have historically shared market mindshare as the two longest-tenured ice TES vendors in the U.S.
- EnergyNest: EnergyNest produces modular thermal energy storage (ThermalBattery) units for industrial and commercial heat storage, named alongside Ice Energy as a key TES market player and competing in distributed TES with the same utility/C&I buyer base.
- Viking Cold Solutions: Viking Cold Solutions provides cold thermal energy storage for refrigerated warehouses and food retail, overlapping Ice Energy's cold-chain TES adjacency and competing for the same energy-cost-reduction value proposition at distributed customer sites.
- Aalborg CSP: Aalborg CSP manufactures molten-salt and other thermal storage systems for concentrated solar and industrial heat; named alongside Ice Energy as a key TES market player and competing in the broader distributed/storage TES category.
- Nostromo Energy: Nostromo Energy develops ice-based thermal storage modules for commercial building cooling, directly mirroring Ice Energy's behind-the-meter ice-battery value proposition and competing for the same customer use cases (peak demand reduction, grid flexibility).
Emerging players
- Electrified Thermal Solutions (ETS): ETS (formerly Malta Inc. spinoff) is developing pumped-heat and high-temperature electric thermal storage for industrial decarbonization, an emerging TES competitor selling similar long-duration storage economics to industrial customers.
- Brenmiller Energy: Brenmiller Energy builds thermochemical/steam-based b-TES systems for industrial process heat and combined heat & power; an emerging decentralized TES peer with different chemistry but the same distributed customer and value-prop overlap.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Ice Energy social profiles
Digital presenceIce Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ice Energy leadership team
Management profileNumber of profiles
Profiles1 record
Ice Energy funding detail
Funding detailFunding overview
Funding rounds5 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ice Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ice Energy
What does Ice Energy do?
Ice Energy develops and sells ice thermal energy storage systems (commonly called ice batteries) that produce and store ice during off-peak electricity hours and use it to provide sustainable air conditioning for buildings. The systems target commercial buildings and facilities such as hospitals and data centers, reducing peak electricity demand, lowering energy costs, and alleviating grid strain.
Is Ice Energy a public or private company?
Ice Energy is a private company. It is classified as private equity controlled and is currently operating.
When was Ice Energy founded?
Ice Energy was founded in 2003. It employs 11 to 50 people.
Where is Ice Energy based?
Ice Energy is headquartered in Costa Mesa, United States, in the North America region.
Who are Ice Energy's main competitors?
Broad incumbents on record are Trane Technologies, Carrier Global and Siemens Energy. Direct peers are CALMAC, EnergyNest, Viking Cold Solutions, Aalborg CSP and Nostromo Energy. Emerging players are Electrified Thermal Solutions (ETS) and Brenmiller Energy.
Does Ice Energy have an API?
No public API is recorded for Ice Energy.
What industry is Ice Energy in?
Ice Energy's product category is Thermal Energy Storage Systems. Its primary akta.pro industry code is EUAFANAA, Ice Thermal Energy Storage (Chilled Water & Ice Storage for HVAC), with a secondary code of EUAFANAJ, Cold Chain & Refrigeration TES (Warehouses, Food & Pharma). Its NAICS code is 333415 and its SIC code is 3585.