NanoTech, Inc Completes Its $5 Million Seed Round of Financing Led by Ecliptic Capital; Shares Issued to Halliburton Labs

NanoTech, Inc Completes Its $5 Million Seed Round of Financing Led by Ecliptic Capital; Shares Issued to Halliburton Labs

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.


Read the original article on Business Wire.