HTMS, a Dublin, Ireland-based company focused on cumulative reduction in the carbon footprint of commercial real estate and process applications, raised US$15M in Series A funding.
The round was led by Aramco Ventures, DP Venture Capital SGR, Corporate Partners I and Progress Tech Transfer fund.
The company intends to use the capital to fund the global deployment of its Maxwell.
Founded in 2018 and led by CEO Thomas Grizzetti, HTMS is the developer of Maxwell – an innovative, sub-micron heat transfer fluid. It is a drop-in additive for use in new or existing commercial and industrial heating and cooling systems. Maxwell enhances heat transfer, resulting in a substantial reduction in energy consumption and an increase in system capacity. It is installed in most HVAC systems, with no downtime or new equipment required.
The company is headquartered in Ireland with offices in Dublin, Italy and New York City.