Green Angel Ventures today announced the completion of an investment in an early stage venture producing a revolutionary new glass coating.
Albotherm Ltd, is a ClimateTech spinout specialising in the development of low carbon cooling coatings.
The investment was led by Green Angel Ventures and supported by a £500k Innovate UK grant. The investment will enable Albotherm to further develop its smart coating technology within the commercial building and greenhouse sectors.
As global temperatures rise and many parts of the world are seeing their hottest summers yet, there is an ever-increasing need to find sustainable, low carbon cooling solutions to regulate temperatures in indoor settings. This is particularly an issue in commercial buildings where there is high demand, as well as greenhouses where 25% of crop yields can be destroyed by excess heat and light, threatening the farming industry and global food security.
Albotherm has developed a reversible coating for glass surfaces, using polymer chemistry that can switch between opaque and transparent, providing shade in high temperatures and allowing sunlight through at lower temperatures. Albotherm’s proprietary technology has significant implications as a net zero approach for temperature regulation, replacing energy intensive cooling systems.
The £1.6M seed investment round led by Green Angel Ventures, represents a significant vote of confidence in Albotherm’s vision and potential to transform the cooling industry.
The all-female team, led by Molly Allington (CEO) and Dr Sian Fussell (CTO), is based on cutting-edge research from the University of Bristol. The funding will enable Albotherm to develop its technology further, scale up manufacturing capabilities, and complete large scale commercial pilots, allowing the company to bring its first products to the greenhouse market within the next two years.
Molly Allington, CEO of Albotherm Ltd: “We are delighted to have received investment to propel our technology development into large scale commercial pilots. Gaining support from prominent investors such as GAV, will help us realise our vision to contribute to a more sustainable and resilient food system.”
Dr Sian Fussell (CTO of Albotherm): “As Albotherm continues to push the boundaries of low carbon cooling, we are thrilled to announce our recent investment. As an all-female founding team in the sustainable technology sector, we are inspired by the growing recognition and support for diverse voices and perspectives and we are thrilled to have found investors that are leading the way for this cause.”
Nick Lyth, President of Green Angel Ventures: “We have been greatly impressed by Albotherm. The ability, dedication and determination of its two remarkable founders is both a testament to the commercial potential of the company, and an inspiration for those who care about diversity in climatetech. Their work will help make the world a better and safer place.”