HMT advises on HT Material Sciences’ €15m investment round

By Sam Pither

23 March 2023

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Henley-based HMT LLP advised HT Material Science (HTMS) on the completion of its €15 million Series-A funding round.

HTMS develops sub-micron-based heat transfer fluid technologies. Its Maxwell heat transfer fluid additive reduces energy consumption in commercial cooling and heating systems by up to 15 per cent. Its clients include Saudi Aramco, Johnson & Johnson, Regeneron Pharmaceuticals, Swire Pacific and Ericsson.

The investment round, which included Saudi Aramco’s venture arm Aramco Ventures, Barclays’ Sustainable Impact Capital, CDP Venture Capital SGR, Corporate Partners I and Progress Tech Transfer, will fund the global deployment of its energy reduction technology.

The HMT team advising HTMS was led by Partner James Thomas. It is the third transaction HMT has advised HTMS on, and included identifying new investment partners, negotiating investment terms and project managing the deal to completion.

Thomas Grizzetti, CEO of HTMS, said: “As we close out the Series A investment, I would like to again thank James for supporting us through this fundraise and helping us identify and assemble an impressive list of global strategic investors that will see us accelerate market uptake of our innovative heat transfer fluids on a global scale.”

James Thomas, Technology Partner at HMT, said: ”Having worked with HTMS since their Seed Round, I am delighted to have again supported Tom (Grizzetti) and the HTMS team on the conclusion of their Series-A fundraise which has attracted the support of leading global cleantech investors. I look forward to continuing our relationship and to working together again in the future.”

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.