Houston climatech startup raises $29M funding round

fresh funding

The company has developed thermal insulation technology that improves efficiency and safety in buildings and outdoor infrastructure. Photo via LinkedIn

Houston-based NanoTech Materials has closed a $29.4 million Series A.

The round was led by Austin-based HPI Real Estate & Investments. Houston-based Goose Capital and Austin-based Milliken & Company also participated.

Nanotech has developed its patented Insulative Ceramic Particle (ICP) technology, which reduces heat transfer in buildings and outdoor infrastructure, improving efficiency and safety. It's known for its Cool Roof Coat, Wildfire Shield and Insulative Coat: Cool Touch product lines.

With the new funding, Nanotech plans to scale operations and expand its market reach for its products.

“We’re addressing one of the pressing and urgent challenges facing infrastructure owners today: controlling energy costs and extending asset life,” Mike Francis, CEO and co-founder of NanoTech Materials, said in a news release. “This financing marks a transformative moment for us. It allows us to rapidly scale production and bring our high-performance materials to market faster, while delivering measurable cost savings and redefining what resilience looks like in today’s built environment.”

Nanotech launched in 2020 and was the first company selected for Halliburton Labs. It moved into a 43,000-square-foot space in Katy in 2023. It brought on new partners that expanded the company's reach in the Middle East and Singapore the following year. Its technology was recognized as one of Time magazine's 200 Best Inventions of 2024.

“We were early investors in Nanotech Materials and are pleased to continue supporting the company as it becomes a leader in breakthrough materials science and technology,” John Chaney, investor at Goose Capital and board member at NanoTech, added in the release. “NanoTech’s ability to elevate fire resilience and energy efficiency in the built environment is critical for strengthening and hardening infrastructure. Its pioneered approach is transforming current building standards and making our lives safer.”

The company has secured $34.4 million in total to date, according to the release. It raised an oversubscribed funding round in 2023 and a $5 million seed round in 2020.

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NanoTech is targeting new overseas markets for its energy efficiency products. Photo via Getty Images

Promising Houston startup expands energy efficiency product to Middle East, Singapore

big move

NanoTech Materials has announced a big expansion for its business.

The Houston company, which created a roof coating using nanotechnology that optimizes energy efficiency, has partnered with Terminal Subsea Solutions Marine Service SP to bring its products to the Gulf Cooperation Council and Singapore. TSSM will become a partner of Houston’s NanoTech Materials products, which will include the Cool Roof Coat, Vehicular Coat, and Insulative Coat for the GCC countries and Singapore.

NanoTech Materials technology that ranges from roof coatings on mid- to low-rise buildings to shipping container insulation to coating trucks and transportation vehicles will be utilized by TSSM in the partnership. NanoTech’s efforts are focused on heat mitigation that can reduce energy costs, enhance worker safety, and minimize business risks in the process.

“Businesses and communities within the GCC and Singapore feel the impact of extreme temperatures and longer Summers more acutely than any other region in the world,” Mike Francis, CEO of NanoTech Materials, says in a news release. “We have an opportunity to make a real impact here through reduced energy load, cooler and safer working conditions, and a reduced carbon emissions output from the hottest, driest place on earth. We are incredibly excited to be partnering with our colleagues at TSSM to bring this powerful technology to the region.”

One of the areas that will benefit from this collaboration is the Middle East. The GCC region is characterized by a desert climate, which has average annual temperature reaching 107.6°F and summer peaks climbing as high as 130°F. The effects of these extreme conditions can be dangerous for workers especially with strict labor laws mandating midday work bans under black flag conditions, which can result in productivity losses as well.

NanoTech’s proprietary technology, the Insulative Ceramic Particle (ICP), will be used to address challenges in energy efficiency and heat control in the logistics and built environment sector. The platform can be integrated into many applications, and the impact can range from reducing greenhouse gas emissions to protecting communities that are wildfire-prone. The core of the technology has a lower conductivity than aerogels. It also has a “near-perfect emissivity score” according to the company. The NanoTech ICP is integrated with base matrix carriers; building materials, coatings, and substrates, which gives the materials heat conservation, rejection, or containment properties.

By combining the ICP into an acrylic roof coating, NanoTech has created the Cool Roof Coat, which reflects sunlight and increases the material's heat resistance. This can lower indoor temperatures by 25 to 45°F in single-story buildings and reduce the carbon emissions of mid to low-rise buildings. This can potentially equal energy savings from 20 percent up to 50 percent, which would surpass the average 15 percent savings of traditional reflective only coatings.

“This technology will have a huge impact on supporting the region's aggressive climate initiatives, such as Saudi Arabia’s Green Initiative, aiming to reduce carbon emissions by 278 million tons annually by 2030,” Jameel Ahmed, managing director at TSSM, says in the release. “The regional efforts to enhance climate action and economic opportunities through substantial investments in green technologies and projects are evident, and we are proud to be offering a product that can make a difference.”

NanoTech says its coating maintains its effectiveness over time and doesn’t suffer UV degradation issues which are helpful, especially in extreme weather conditions workers and businesses face in regions like the Middle East.

With a new partnership, NanoTech is hoping to help cool off Arizona. Photo via nanotechmaterials.com

Houston eco-focused materials startup launches initiative in Arizona

stay cool

Home to a persistent dry heat, Arizona is a prime market for energy-reducing tools and technologies — and one Houston company is jumping on the opportunity.

NanoTech Materials, which created the Cool Roof Coat that can extend a building's roof lifespan and reduce energy costs by seven to 15 percent, has announced a joint campaign with Cool Roof Coating Systems, a subsidiary of Tesson Roofing. Cool Roof Coating Systems will provide the installation of NanoTech's product, which is available nationwide.

"NanoTech products are designed to provide extraordinary heat rejection, and the team at Tesson is among the very best in the roof restoration market, which made a joint initiative in the extreme heat and intense Arizona sun a natural fit," Mike Francis, CEO and founder at NanoTech Materials, says in a news release. "As a direct-to-installer product, we rely on collaboration with highly qualified contractors. I am delighted at the founding of Cool Roof Coating Systems to bring a new level of sustainability to Arizona.

"Our vision at NanoTech is to transform sustainability in the built environment, starting with one of the biggest energy drains and sources of carbon emissions, one roof at a time," he adds.

The elastic, polymeric roof remediation solution is able to cut internal temperatures by 25°F to 30°F, which can be responsible for cutting carbon emissions by 76 tons annually in a 25,000-square-foot building, according to the company.

"Put simply, the heat-rejection performance of NanoTech Cool Roof Coat is so compelling that Tesson decided to form an Arizona-based company to tackle one of the hottest markets in the U.S. directly," Brett Tesson, president at Cool Roof Coating Systems, says in the release. "During my two decades in the roofing industry, NanoTech Cool Roof Coat is by far the most game-changing product for the roof restoration business because it allows us to coat, waterproof and protect, while adding unprecedented savings in HVAC cooling for our customers."

Last summer, NanoTech announced an oversubscribed funding round that brought onboard a handful of new investors. The details of the round were not disclosed, but the round was raised to help the company continue to roll out its product nationally.

ALLY Energy celebrated over 50 honorees at its annual awards event. Photo via LinkedIn

Top Houston energy teams, individuals, and companies honored at annual awards

meet the winnenrs

The brightest stars in Houston's energy community celebrated wins at an annual awards event this week.

ALLY Energy, a company that works with its clients to make the energy industry more equitable, hosted its seventh annual GRIT Awards and Best Energy Workplaces on October 26 — and named its prestigious winners. EnergyCapitalHTX, as well as its sister site InnovationMap, was a media partner for the event.

“Every year, we are astounded at how many impressive, committed people are demonstrating leadership and grit in their work to advance the energy transition and build more diverse, equitable and inclusive workplaces,” ALLY Energy CEO Katie Mehnert says in a news release naming the finalists. “This year is no exception. This is the time to celebrate so many crucial achievements that may otherwise go overlooked in the energy sector and in broader society.”

In addition to naming its winners, ALLY celebrated three Lifetime Achievement Award honorees who have distinguished careers championing change in energy and climate in the private or public sector in the areas of technology, policy, and workforce: John Berger, CEO of Sunnova Energy; Rhonda Morris, vice president and chief human resources officer of Chevron; and Amy Chronis, vice chair, US energy and chemicals leader, and Houston managing partner at Deloitte.

The big winners of 2023 are as follows.

The Professional Award

Alex Loureiro, Scientific Director at EnerGeo Alliance
Crystal McNack, Diversity, Equity, and Inclusion Advisor at Enbridge Inc.
Dani Milling, Gulf of Mexico Environmental Engineer & Mexico HSE Coordinator at Chevron
Katie Zimmerman, Decarbonization Director, Americas at Wood
Mark Klapatch-Mathias, Sustainability Coordinator at the University of Wisconsin-River Falls
Natalie Valentine, Director - Business Performance at Worley
Syed Fahim, Global ESG Lead at SLB
Tane Bates, Regional Operations Manager at Certarus LTD
Ujunwa Ojemeni, Senior Policy Advisor - Energy Transition & Technical Assistance Delivery at E3G - Third Generation Environmentalism

The Executive Award

Cara Hair, SVP of Corporate Services, Chief Legal and Compliance Officer at Helmerich & Payne
Emma Lewis, Senior Vice President USGC Chemicals & Products at Shell
Jeremy Campbell-Wray, Strategic Accounts and Enterprise Growth Market Executive at Baker Hughes
Maggie Seeliger, SVP & Global Head of Strategy, Energy & Resources at Sodexo
Max Chan, Senior Vice President, Corporate Development Officer at Enbridge
Megan Beauregard, Chief Legal Officer, Secretary, and Head of Policy and Regulatory Affairs at Enel North America, Inc.
Sarah Delille, Vice President of US Country Management at Equinor
Whitney Eaton, EVP, People & Sustainability at TGS Energy

The JEDI Award

Jason Limerick, Sustainability Strategy Lead at Woodside Energy
Melina Acevedo, Associate & Partnerships Lead at DE Shaw Renewable Investments

The Entrepreneur Award

Charli Matthews, CEO at Empowering Women in Industry
Mike Francis, Co-Founder and CEO at NanoTech

The ESG & Climate Champion Award

Andrea Hepp, Deal Lead at Shell
Brittney Marshall, Senior Advisor, Climate Strategy and Policy at Woodside Energy
Gabriel Rolland, Vice President, Corporate QHSE at TGS Energy
Sandhya Ganapathy, Chief Executive Officer at EDP Renewables North America

Gritty Girl Award

Deepasha Baral, Student at the University of Petroleum and Energy Studies

Best Affinity Group, Employee Resource Group Award, sponsored by ChampionX

Baker Hughes
ChampionX
Shell
TPI Composites
Women's Energy Network Houston
Wood Mackenzie
Worley

Best Energy Team Award, sponsored by Ovintiv

Advisian Material Handling
Halliburton Labs
NOV Marketing
Syzygy Plasmonics, Rigel Manufacturing & Launch Team

Best Energy Workplaces Award

Aera Energy LLC
Baker Hughes
ChampionX
EDP Renewables North America
Enel
Global Edge Group
Shell
Southwestern Energy
Sunnova Energy International
TGS Energy
Wood
Woodside Energy

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

Growing Houston startup announces latest funding to support national expansion

cool coating

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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Solar manufacturer expands Houston footprint with new 4 GW factory

coming soon

Houston-based SEG Solar plans to open a new 4-gigawatt solar module manufacturing facility in Cypress.

The facility represents more than a $200 million investment and will raise SEG's total annual U.S. module production capacity to approximately 6 gigawatts, according to a new release. The expansion is part of SEG’s long-term goal of becoming one of the largest 100 percent U.S.-owned module manufacturers.

The new 500,000-square-foot facility will be located on Telge Road and is expected to create 800 new jobs, according to reports.

“This new facility marks an important milestone for SEG,” Timothy Johnson, VP of operations, said in the release. “It will further strengthen our U.S. manufacturing capabilities while supporting ongoing technology innovation. The plant is designed with the flexibility to integrate next-generation technologies, including (heterojunction solar technology) as the industry evolves.”

Commercial operations at the new facility are expected to commence in Q3 2026.

SEG is also developing a 5-gigawatt ingot and wafer manufacturing facility in Indonesia. Construction on the facility is expected to begin in Q2 2026.

In 2024, SEG Solar opened a new $60 million, 250,000-square-foot facility in Houston to house its production workshops, raw material warehouses, administrative offices, finished goods warehouses and supporting infrastructure. Read more here.

Fervo Energy bumps up IPO target to $1.82B

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

Modular nuclear reactor company opens office in Houston

new to hou

The nuclear energy renaissance continues in Texas with an announcement by NuScale Power. The Oregon-based provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology announced in April it would be opening office space in Houston’s CityCentre.

“Opening this space in Houston underscores our commitment to meeting rising energy demand with safe, scalable nuclear technology,” John Hopkins, NuScale president and CEO, said in a news release. “This move expands our presence in a key market for partners, prospective customers, and stakeholders in addition to positioning us for the future as we focus on the near-term deployment of our industry-leading technology. Texas is leading the way in embracing advanced nuclear for grid resilience and industrial decarbonization, and we’re proud to expand our footprint and capabilities in this important region.”

Interest in nuclear power has been growing in recent years thanks to tensions with oil-rich nations, concerns about man-made climate change from fossil fuels, and the rapidly increasing power needs of data centers. Both Dow and Texas A&M University have announced expanded nuclear power projects in the last year, with an eye of changing the face of Texas’s energy industry through smaller, safer fission reactors.

Enter NuScale, founded in 2007 from technology developed at the University of Oregon. Their modular SMR technology generates 77 megawatts and is one of the only small modular reactors (SMR) to receive design approval from the U.S. Nuclear Regulatory Commission (NRC). These advances have led to runaway success for NuScale, whose stock has risen by more than 1,670 percent since the start of 2024.

The new operations campus in CityCentre is expected to facilitate the movement, installation and coordination of NuScale technology into the various energy systems. Typically, SMRs are used for off-grid installations, desalination operations, mining facilities and similar areas that lack infrastructure. However, the modularity means that they can be easily deployed to a variety of areas.

It comes none too soon. ERCOT projects that Texas data centers alone will require 77,965 megawatts by 2030.

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