# HT Materials Science

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ht-materials-science

- Industry: Heating, Cooling & Ventilation Equipment and Services
- Headquarters: Dublin, Ireland
- Website: www.htmaterialsscience.com/
- Total disclosed funding: $15M
- Latest round: Series A (Mar 19, 2023)
- Investors on record: 4

## About

Based in Dublin, Ireland and founded in 2018 by Thomas Grizzetti (CEO), Arturo de Risi and Edward Coleman, HT Materials Science Limited provides smart heat transfer fluids for commercial and industrial heating and cooling systems. In December 2025, HT Materials Science Limited raised venture funding from Peak Venture Partners.
The company offers Maxwell, a heat transfer fluid that is a designed solution of a water-based base fluid with sub-micron aluminium oxide particles. It functions as a drop-in additive for cooling and heating systems by improving heat transmission, which lowers energy use and carbon emissions. Maxwell’s properties include the patented design of the suspension of submicron Aluminium Oxide (Al2O3) particles in a base fluid, either water (W) or water with propylene/ethylene glycol (PG/EG). Chillers, heat pumps, energy recovery systems, pumps, fans, and terminal units are the applications for HT Materials.
The company plans to use the December 2025 funding to scale its Maxwell nanofluid technology for HVAC systems and expand operations in India to meet rising cooling demand.

## Funding rounds

- Series A, Mar 19, 2023, $15M — Barclays Bank, CDP Venture Capital, Aramco Ventures, MITO Tech Transfer

## Investors

- Barclays Bank — Series A
- CDP Venture Capital (https://capitalatlas.ai/funds/cdp-venture-capital) — Series A
- Aramco Ventures (https://capitalatlas.ai/funds/aramco-ventures) — Series A
- MITO Tech Transfer (https://capitalatlas.ai/funds/mito-tech-transfer) — Series A