"We are completely revolutionizing air conditioners," writes startup Transaera, "with advanced materials that remove moisture from the air before cooling it. Then we use the heat generated by the air conditioner – instead of wasting it – to dry the material for the next cycle. The process uses less electricity, resulting in long-term cost savings and reduced greenhouse gas emissions." The company had the technology, but what they didn't have was a finished product. To realize it, they...

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