Radix Ventures Invests €1.5 Million in Naco Technologies to Accelerate Green Energy Innovations

Radix Ventures, a Warsaw-based deep tech fund, has invested €1.5 million in Naco Technologies, a Latvian pioneer in advanced nano-coating solutions for green energy systems.

This funding, part of a larger pre-Series A round co-led by Radix Ventures alongside Impact Ventures and The Untitled Ventures, aims to drive Naco's international expansion and support the development of a high-capacity production facility in Poland.

Naco Technologies utilizes proprietary magnetron sputtering technology to apply ultra-thin coatings at high speeds, enhancing energy efficiency and component durability. By cutting the use of rare and costly materials such as platinum and iridium by up to 90%, Naco’s innovative coatings make hydrogen production and other green energy technologies more affordable and scalable.

This investment marks Radix Ventures' first commitment as it sets out to build a portfolio of 16-20 transformative startups in the coming years. The funding will empower Naco Technologies to:

• Prepare for Large-Scale Production: Begin groundwork for a manufacturing facility in Poland to scale production and address the rising demand for nano-coated components across Europe.

  
  

• Boost R&D and Innovation: Advance research efforts to enhance and diversify nano-coating solutions, ensuring maximum performance and durability for green energy technologies.

Paweł Bochniarz, General Partner at Radix Ventures, stated "We believe that Naco Technologies, positioned at the intersection of nanotechnology and clean energy, can become a leading supplier of coating solutions that can make the global transition to renewable energy more efficient and profitable. We are proud to join them on their journey."

Aleksandrs Parfinovičs, CEO and Co-founder of Naco Technologies, commented "Radix Ventures' investment strengthens our mission to provide advanced materials for the green energy sector. With this funding, we're moving forward to build a production facility in Poland and meet global market demands. Our team is energized by the support from Impact Ventures, The Untitled Ventures, and Radix Ventures as we continue to scale and innovate."

Source: Radix Ventures