Barclays invests in commercial heating and cooling experts, HT Materials Science
Barclays has made an equity investment in HT Materials Science (HTMS), the developer of Maxwell™, an innovative heat transfer fluid that reduces energy consumption in commercial buildings by up to 15%.
This is the latest investment Barclays has made through its Sustainable Impact Capital portfolio, which has a mandate to invest £500m into global climate tech start-ups by the end of 2027. This is one of the ways the bank is helping to support its clients’ transition towards a low-carbon economy, part of its climate strategy.
Global energy demand for space cooling alone is expected to triple by 2050 as the world warms. HTMS’ products enable companies to reduce their energy usage and carbon footprint simply and effectively, helping them achieve their sustainability goals and meet regulated energy efficiency targets.
Barclays’ investment will support the global deployment of Maxwell™, enabling HTMS to grow its addressable market and reach more businesses who increasingly require solutions such as this.
Thomas Grizzetti, CEO of HTMS, says: "We are excited to have the backing of Barclays, which serves as a strong endorsement for our technology and vision. Thanks to the ease of installation, and use in both new and existing HVAC systems, we believe that, at scale, Maxwell™ can have a material impact on energy usage and the carbon footprint of a broad range of industries and sectors.”
Gavin Chapman, Co-Head Principal Investments, says: “As a full-service bank with a global footprint, we are very aware of the challenges that our customers and clients face in reducing their energy consumption, both to reduce their carbon footprint and their costs, and Maxwell™ has the potential to play a significant role. We are excited to be on this journey with HTMS as they expand their reach and increase impact..”