Saudi Aramco and Barclays invest $15m in Irish company

HT Materials Science has developed technology that can improve heating and cooling systems at the biggest warehouses, factories and data centres in the world

HTMS said that the total addressable market for its product is €50 billion in the US and Europe as it can be deployed in high energy usage settings such as data centres

HT Materials Science (HTMS), an Irish developer of technology used in heating and cooling systems, has secured $15 million in funding from backers including Barclays and Aramco Ventures.

Founded by Tom Grizzetti, Arturo de Risi and Rudy Holesek in 2018, the firm produces additives which help improve the effectiveness of heat-transfer fluids used at factories, warehouses, data centres and even office buildings.

The company claims that its products can provide energy savings of 25 per …