HOUSTON--(BUSINESS WIRE)--NanoTech Inc, a material science company focused on fire-proofing and insulation technologies, completed its $5 million seed round of financing. Austin-based Ecliptic Capital led the investment round which also resulted in the conversion of a SAFE (simple agreement for future equity) previously issued to Houston’s newest cleantech accelerator, Halliburton Labs.
“The investment from Ecliptic Capital will allow us to scale our business to achieve our mission of fireproofing the world and reducing global energy consumption. Additionally, our participation with Halliburton Labs provides us with the support of a Fortune 500 company,” said NanoTech’s Chief Executive Officer Mike Francis.
“Ecliptic is proud to partner with NanoTech as the company’s founding institutional investor,” said Mike W. Erwin, Founder of Ecliptic Capital. “We’re excited to work with the company and leverage our operational expertise to rapidly scale this impactful, world-changing technology. We look forward to a new world where NanoTech accelerates the thermal management market from science-fiction to science-fact.”
NanoTech’s proprietary technology can be used across most industries including: commercial construction, chemical plants, oil and gas, aviation, utilities and much more. The benefits of the technology include:
- Spray on fireproofing and insulative coating which protects against fires up to 3,300° F at minimal coating thickness.
- Additive to traditional building materials, such as, paints, resins, polymers, cements and more.
- Ease of application.
- Clean tech energy savings as an insulative coating and environmentally friendly alternative to other technologies.
“We are thrilled to see a Halliburton Labs participant secure their first round of financing, and congratulate the Ecliptic and NanoTech teams,” said Halliburton Labs Executive Director Scott Gale. “We are confident in the path forward as they work towards achieving a clean energy future.”
“As a company, we are just scratching the surface on where our technology will be used and can’t wait to see the business scale,” added Mike Francis.
NanoTech is currently based at the corporate Halliburton campus in Houston, Texas where they have access to world class laboratories and facilities.
Special thanks to Brian Fenske at Norton Rose Fulbright
About NanoTech
NanoTech, Inc. is a material science company focused on fireproofing and insulation technologies. Their proprietary technologies can fireproof with their existing coating systems or be used as an additive into traditional building materials. Learn more by visiting https://thenanoshield.com or contact NanoTech at info@thenanoshield.com. Connect with NanoTech on LinkedIn, Twitter, Facebook, and Instagram
About Ecliptic Capital
Ecliptic Capital is a new breed of early-stage innovation fund, focused on value creation, founded by serial entrepreneurs and investors, and designed for the future: a modern online platform, open-ended investment timeframes, continuous commitments & distributions, deal-by-deal optionality, direct investments, and, a broad thesis capturing a wide range of emergent deep-technologies, hard science inventions, and neglected geographies/industries. Ecliptic’s Evergreen Innovation Fund amplifies value by encouraging the direct participation of corporate, university, government, municipal & military interests, in addition to its investors and operators. Learn more by visiting https://ecliptic.capital/
LinkedIn, Twitter, inquiries@eclipticcapital.com, or call +1 978-652-9222
About Halliburton Labs
Halliburton Labs is a collaborative environment where entrepreneurs, academics, investors and industrial labs join to advance cleaner, affordable energy. Located at Halliburton Company’s headquarters in Houston, Texas, Halliburton Labs provides access to world-class facilities, operational expertise, practical mentorship and financing opportunities in a single location to help participants scale their business. Visit the Company’s website at www.halliburtonlabs.com. Connect with Halliburton Labs on Twitter, LinkedIn and Instagram. Halliburton Labs is a wholly-owned subsidiary of Halliburton Company.
