cool coating

Growing Houston startup announces latest funding to support national expansion

NanoTech — with it's innovative and energy-saving roof coating material — closed an oversubscribed round of funding, the company announced this week. Photo via thenanoshield.com

A Houston startup that has developed an innovative coating material that can reduce energy consumption has raised fresh funding for its cross-country expansion.

NanoTech Inc. announced its latest funding news — an oversubscribed funding round that brings onboard a handful of new investors. The details of the round were not disclosed, but NanoTech did release that the round included participation from three institutional investors, two corporate-strategic investors, and seven family offices. These entities join initial investor, Austin-based Ecliptic Capital.

NanoTech's flagship product is a waterproof thermal coating, called the Nano Shield Cool Roof Coat, which began rolling out across the country this year. Not only does the product reduce energy costs for the building owner, but it reduces emissions as well.

"It's crucial to recalibrate the sustainability narrative – environmental responsibility and financial return can go hand in hand," says Mike Francis, CEO and co-founder of NanoTech, in a news release. “We’ve transformed the roof from a cost center to a savings source by reducing energy expenditures while also significantly shrinking the building's carbon footprint.”"The substantial decline in CO2 emissions and energy costs resulting from reduced reliance on HVAC systems is far more than a fringe benefit — it forms the cornerstone of our long-term strategy to lead the climate-resilient materials market. Beyond corporate objectives, it's a personal source of immense pride to foster a healthier planet for generations to come," Francis continues.

As the first selected company in Houston-based Halliburton Labs, NanoTech continues to benefit from the incubator's industrial scaling resources. Francis and Chief Commercial Officer Carrie Horazeck recently joined the Houston Innovators Podcast to discuss the impact their product is making as they roll out nationwide.

"It's just a coating that can go on top of existing structure — any type of commercial roof," Horazeck says on the show. "We have a pretty good amount of data from 2022 showcasing that we can reduce HVAC consumption within the building by about 30 to 40 percent.

"Our clients really see a immediate benefit in their energy bill, and, of course, if you reduce the HVAC consumption, that automatically translates to a decrease in your scope one emissions," she continues.

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This article originally ran on InnovationMap.

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A View From HETI

Shell has entered a 15-year agreement to be the first offtaker to receive electrons from Fervo Energy's flagship geothermal development in Beaver County, Utah, known as Cape Station. Photo via fervoenergy.com

Beginning in 2026, Shell will be able to apply 31 megawatts of 24/7 carbon-free geothermal power to its customers thanks to a new 15-year power purchase agreement with Houston next-gen geothermal development company Fervo Energy.

“This agreement demonstrates that Fervo is stepping up to meet the moment,” Dawn Owens, VP, Head of Development & Commercial Markets at Fervo, said in a news release.

Shell will become the first offtaker to receive electrons from Fervo's flagship geothermal development in Beaver County, Utah’s Phase I of Cape Station. Cape Station is currently one of the world’s largest enhanced geothermal systems (EGS) developments, and the station will begin to deliver electricity to the grid in 2026.

Cape Station will increase from 400 MW to 500 MW, which is considered by the company a major accomplishment due to recent breakthroughs in Fervo’s field development strategy and well design. Fervo is now able to generate more megawatts per well by optimizing well spacing using fiber optic sensing, increasing casing diameter and implementing staggered bench development. This can allow for a 100 MW capacity increase without the need for additional drilling, according to the company.

With the addition of the new Shell deal, all 500 MW of capacity from Fervo’s Cape Station are now fully contracted. The deal also includes existing agreements, like Fervo’s PPAs with Southern California Edison and an expanded deal with Clean Power Alliance that adds 18 MW of carbon-free geothermal energy to the company’s existing PPA with Fervo.

“As customers seek out 24/7 carbon-free energy, geothermal is clearly an essential part of the solution,” Owens said in the release.

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