Naco Technologies, a Riga-based company specializing in advanced nano-coatings for green hydrogen systems, recently secured a significant investment of €1.2 million in a pre-Series A round. This funding came from two notable backers, Impact Ventures and The Untitled Ventures. Naco Technologies has made remarkable strides in improving the effectiveness and durability of electrolyzers and fuel cells, crucial components in green energy production. With this financial boost, Naco aims to expand globally by establishing itself in key markets, intensify its research and development efforts to further innovate their nano-coating technologies, and fortify its team and infrastructure to meet the growing demand for their solutions in the green hydrogen sector.
Naco Technologies pioneers innovative coatings and novel materials designed to transform the landscape of hydrogen production and utilization. Their primary focus revolves around creating alternatives to expensive noble metals like platinum, traditionally essential in the extraction of clean hydrogen from water. By developing these alternatives, Naco Technologies aims to drastically enhance the efficiency and affordability of hydrogen systems. Their distinctive materials and coatings offer a pathway for industrial hydrogen producers to expand operations without being constrained by material scarcity or competitive limitations. Unlike typical research and development entities, Naco Technologies provides practical solutions ready for immediate integration, empowering their clients to swiftly scale up large-scale hydrogen system production.
Oskar Stachowiak, Managing Partner, The Untitled Ventures, “We are inspired by Naco Technologies’ commitment to the green energy transition. Their groundbreaking nano-coating technology is not just innovative; it’s essential for the future of sustainable energy. We’re proud to support their vision and expansion.”
Gergely Iváncsics, Investment Director, Impact Ventures, “At Impact Ventures, our focus is on empowering companies that drive significant environmental and societal impact in the EU. Investing in Naco Technologies aligns perfectly with our mission, as they play a crucial role in advancing green hydrogen technology.”
Aleksandrs Parfinovics, CEO and Co-founder of Naco Technologies, “This investment is a pivotal step for us. It enables Naco Technologies to accelerate our contributions to the green energy sector, particularly in enhancing the cost efficiency and impact of green hydrogen systems. We’re grateful for the support from Impact Ventures and The Untitled Ventures, and excited for what lies ahead.”
