Latvian Pioneer Naco Technologies Raises €7M for Green Energy Nano-Coating
Naco Technologies, a pioneering Latvian company, has drawn significant investment, totaling €7 million over five years. This includes one of the largest start-up investments in Riga, in 2024. The company specialises in nano-coating technology, aiming to reduce the cost of green energy by minimising the use of expensive materials in various industries.
Naco Technologies opened its production facility in Riga two years ago. The company currently manufactures equipment coated with various materials, with its nano-coating technology protecting components of hydrogen systems from corrosion. This extends the service life of these components and reduces the need for precious metals.
The company's CEO, Aleksandrs Parfinovičs, has demonstrated the capabilities of the company's nano-coating. Despite no public records of specific customers, Naco Technologies serves clients across Europe, Asia, and North America, including prominent names like Toyota, Hyundai, and Siemens Energy. The company's success has attracted employees, drawn by the scientific nature of the work and the company's green mission. Currently, the facility is being expanded to meet growing demand, with customers asking to integrate the nano-coating technology into their existing facilities.
Naco Technologies' innovative nano-coating technology is making waves in the green energy sector. With €7 million in investments, a growing customer base including major global players, and an expanding production facility, the company is poised to significantly impact the industry. Its focus on reducing the use of expensive materials promises to make green energy more affordable, contributing to a sustainable future.