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

Warsaw, Poland; Riga, Latvia – January 14, 2025‍

‍

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

This funding is part of a larger pre-Series A round co-led by Radix Ventures, alongside previous investors Impact Ventures and The Untitled Ventures. The investment will accelerate Naco's international growth and support the establishment of a high-capacity production facility in Poland.

Naco's proprietary magnetron sputtering technology applies ultra-thin coatings at high speeds, improving energy efficiency and component durability. By reducing the use of rare and expensive materials like platinum and iridium by up to 90%, Naco’s coatings make hydrogen production and other green energy technologies more cost-effective and scalable.

‍

This investment marks Radix Ventures' inaugural commitment, aiming to build a portfolio of 16-20 transformative startups in the coming years. The capital will enable Naco Technologies to:

1. Prepare for Large-Scale Production: Initiate preparations for a manufacturing facility in Poland to scale production and meet the growing demand for nano-coated components across Europe
2. Enhance R&D and Innovation: Advance research to refine and expand nano-coating solutions, ensuring optimal 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."

‍

About Naco Technologies

Naco Technologies specializes in developing high-performance nano-coatings that enhance the efficiency and cost-effectiveness of hydrogen systems. Through its pioneering high-speed magnetron sputtering technology, Naco provides scalable and versatile coating solutions tailored for the green hydrogen industry, advancing sustainable energy.

About Radix Ventures

Radix Ventures is a venture capital firm dedicated to backing innovative companies with transformative potential in sustainability and technology. With a mission to empower radical innovators, Radix partners with companies driving significant economic and environmental impact.

‍

This operation benefits from support from the European Union under the InvestEU Fund.