Beverly, Massachusetts¬† —¬† Electronics technology company 7AC Technologies has received $4.9 million in new venture investment, according to an SEC regulatory filing.

7AC Technologies has developed an efficient liquid desiccant HVA system for commercial and industrial buildings.

The systems promise to provide up to a 50% reduction in energy costs over conventional HVAC units.

Investors in the financing were not disclosed nor was how the company intends to use the funding proceeds.

7AC is still seeking $2.5 million in additional financing, according to the filing.