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£2m funding for nano heat transfer company

IRELAND: A company developing nano-enabled heat transfer additives to improve energy use and capacity in heating and cooling systems has attracted £2m in funding.

Dublin-based HT Materials Science (HTMS) produces heat transfer additives which, when added to existing water and glycol heating and cooling systems, are said to yield dramatic improvements in energy use or system capacity. It is said that the additives can be retrofitted quickly and simply without any system downtime.

The funding will enable HT Materials Science (HTMS) to complete commercial validation projects in the US and Europe for clients including Johnson & Johnson, Engie and Veolia.

Under the terms of the deal, sustainable technologies investor Progress Tech Transfer (PTT) will invest €1m, with the round also being supported by Enterprise Ireland, among other accredited investors.

Founded in 2018, HTMS is the developer of Maxwell 2020, a drop-in additive for use in new or existing commercial and industrial heating and cooling systems. It is described as an engineered suspension of nanometer-sized metal oxide particles in a base fluid.

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