HT Materials Science (HTMS) is the global leader in smart heat transfer fluids for commercial and industrial heating and cooling systems. Pulse 2.0 interviewed HT Materials Science CEO Thomas Grizzetti to learn more about the company.
Thomas Grizzetti’s Background
What is Thomas Grizzetti’s background? Grizzetti said:
“My background is in finance and operations specifically for the alternative investment sector. I co-founded International Fund Services, a firm that provided accounting, treasury and administrative services to hedge funds. My partners and I grew that business to circa $200 million in annual revenue with an eventual sale to State Street Bank. After which I launched Gotham Industries, where I’ve led investments for family and friends in the manufacturing and fintech sectors.”
Formation Of HTMS
How did the idea for the company come together? Grizzetti shared:
“In reviewing potential investments in the HVAC sector for Gotham Industries, I realized that there was a significant industry in Europe developing nanomaterials for various commercial applications. We saw an opportunity whereby certain nano materials could increase the thermal capacity of water for HVAC systems resulting in energy efficiency and increased capacity. We located the engineering team leading this research and eventually formed HTMS with these engineers as our fellow partners.”
Favorite Memory
What has been your favorite memory working for the company so far? Grizzetti reflected:
“We’ve been working with some amazing partners around the world who have used our product in pilot programs and given us the opportunity to put it to the test in real world situations. The memories that stand out the most have been achieving successful pilots with Aramco, Tabreed (Engie) and Amazon.”
Core Products
What are the company’s core products and features? Grizzetti explained:
“The core product is our flagship MAXWELL water and glycol based heat transfer fluid additives. MAXWELL is an engineered suspension of aluminum oxide nanoparticles that increases the heat transfer efficiency of a typical commercial or industrial HVAC system. This increase in energy efficiency results in reduced energy consumption and/or increased thermal capacity by circa 15%”
Challenges Faced
What challenges have Grizzetti and the team face in building the company? Grizzetti acknowledged:
“OEMs and facility operators are naturally risk averse to new and unproven technology. This resistance is especially time and money consuming for startups. However, with successful pilot programs backed by empirical and auditable data, we are seeing significantly less resistance from buyers and their OEMs.”
Evolution Of HTMS’ Technology
How has the company’s technology evolved since launching? Grizzetti noted:
“We are testing new raw material inputs including graphene to provide our customers a more effective and less expensive product.”
Significant Milestones
What have been some of the company’s most significant milestones? Grizzetti cited:
“We surpassed $2 million in total revenues with over 20 active client sites.”
Customer Success Stories
When asking Grizzetti about customer success stories, he highlighted:
“We recently installed Maxwell at three of Amazon’s fulfillment centers in the UK. To have that kind of endorsement from a company like Amazon, which has been such a monumental leader of sustainability practices around the world, is enormously gratifying.”
Funding
When asking Grizzetti about the company’s funding details, he revealed:
“We have raised $30+ million in funding with major investments from Aramco Ventures, EcoLab, Barclay Sustainable Impact Capital and CDP Ventures the sovereign wealth fund of Italy.”
Total Addressable Market
What is total addressable market (TAM) size is the company pursuing? Grizzetti assessed:
“The TAM $100+ billion globally, we would be happy with a 1 % slice of that market.”
Differentiation From The Competition
What differentiates the company from its competition? Grizzetti affirmed:
“The performance of our products, continued innovation and complete transparency.”
Future Company Goals
What are some of the company’s future company goals? Grizzetti concluded:
“Right now our goal is to continue driving adoption of MAXWELL in the marketplace as well as developing new products that address the particular needs of industries that are facing pressure to reduce energy consumption and carbon emissions or in the case expand their capacity–in particular at data centers.”
