Climate Tech Start-Up 3E Nano Closes US$4 Million Series Seed Funding Round, Secures C$5M in Funding from Sustainable Development Technology Canada
TORONTO – 3E Nano, a technology start-up poised to disrupt the window market, is pleased to announce it secured a US$4 million Series Seed funding round. The syndicated raise was led by Energy Foundry and includes major investors MUUS Climate Partners, ACT Venture Partners, Creative Ventures, and New Climate Ventures. Additional climate impact investors participated in the round with significant contributions from Vectors Capital and VertueLab.
3E Nano’s patented thermal energy control nano-coating is a transparent, flexible, and low-cost solution that will transform the window market, quadrupling a window’s R-value, or insulating effectiveness. 3E Nano is collaborating with multiple commercial partners, including manufacturing partners and future customers to bring the innovation to market. The company plans to incorporate its coated polymers into windows for residential and commercial buildings and architectural applications such as glazing, façades, skylights, greenhouses, and window inserts, thereby advancing the decarbonization of the built environment.
Marking a significant milestone for the company, Yvan Baker, honorable Member of Parliament, announced at the University of Toronto that 3E Nano has received an additional CAD$5 million in follow-on funding from Sustainable Development Technology Canada (SDTC) – a Canadian Government program focused on finding, funding, and fostering Canadian companies that develop and commercialize technologies that positively impact Canada’s environmental and economic prosperity.
With commercialization funding now secured, the company will finalize product development and commercialize the technology over the next three years. “With the supportive funding of our investors and SDTC, 3E Nano will transition our unique innovation from the lab towards full scale manufacturing, and ultimately, to installation in architectural applications,” said Steve Ferrero, CEO of 3E Nano. “Our goal is to reduce one gigaton of greenhouse gases by 2050.”
About 3E Nano
3E Nano Inc., a technology spin out of the University of Toronto, was founded in 2015 and is commercializing a patented high-performance, low-cost, transparent solar control coating. This nano-thin optical coating which can be applied to glass, polymers, and other flexible media is targeted toward windows, glazing, façades, blinds/shades, skylights, and other architectural applications. Previous seed funding was supplied by SDTC and the Government of Canada, Bioindustrial Innovation Canada, and the Ontario Centre of Innovation. The company also received support from Third Derivative (D3) and VoLo Earth.
For more information, visit: http://www.3enano.com/
The Top Floor Public Relations (for 3E Nano)