Climate Tech Start-Up 3E Nano Closes US$4 Million Series Seed Funding Round, Secures C$5M in Funding from Sustainable Development Technology Canada
March 28 2023 - 6:00AM
Business Wire
Commercialization of 3E Nano’s affordable solar control
technology for windows will drive decarbonization and energy
efficiency of buildings
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.
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Pictured from left: Dr. Nazir Kherani,
CSA and Co-founder 3E Nano, MP Baker representing SDTC, Steve
Ferrero, CEO 3E Nano, and Dan Shea, Chairman and Co-founder 3E Nano
(Photo: Business Wire)
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.
For more information, visit: http://www.3enano.com/
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Inquiries info@3enano.com Media Michele
McDermott-Fox The Top Floor Public Relations (for 3E Nano)
michele@thetopflooragency.com