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16-08-21
International firm increases USD 5.9M from round of funding led by Saudi Aramco
(MENAFN)An international company specializing in additives for industrial heating and cooling systems increased USD5.9 million from a round of funding led by Saudi Aramco Energy Ventures (SAEV) and the Progress Tech Transfer Fund (PTT).
HT Materials Science (HTMS) produces heat transfer fluid additives that when added to water and glycol heating and cooling systems, yield substantial developments in energy use.
SAEV is the corporate venturing program of Aramco Ventures, a subsidiary of Aramco.
The Series A financing is going to be applied to finance a number of projects, improve manufacturing capability and invest in sales and distribution networks in the US, Middle East, Europe and Asia.
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