Join Startup Grind Aggieland as we host Aggie CEO Mike Francis, cofounder of NanoTech, and William Cole Co. CEO Spencer Clements, also a Texas A&M University graduate, in a Fireside Chat on June 1 at the new Lake Walk Innovation Center in Bryan, Texas.
Austin-and now LWIC-based Ecliptic Capital led the $5 million seed investment round for NanoTech afer the Halliburton Labs inaugural client graduated last year from the venture lab in Houston. Additionally, the deal also resulted in the conversion of a simple agreement for future equity, or SAFE, that was previously issued to Halliburton Labs.
"The investment from Ecliptic Capital will allow us to scale our business to achieve our mission of fireproofing the world and reducing global energy consumption. Additionally, our participation with Halliburton Labs provides us with the support of a Fortune 500 company." says NanoTech's CEO Mike Francis in the media release. Ecliptic Capital is a fund that has focused on early-stage startups and supports a wide range of technologies across neglected geographies and industries but with an emphasis on Texas ventures.
"Ecliptic is proud to partner with NanoTech as the company's founding institutional investor," says Mike W. Erwin, founder of Ecliptic Capital, in the release. "We're excited to work with the company and leverage our operational expertise to rapidly scale this impactful, world-changing technology. We look forward to a new world where NanoTech accelerates the thermal management market from science-fiction to science-fact."
Halliburton Company chose NanoTech from a round of contenders to be the first participant of their 12-month program. Halliburton provided Nanotech with its own office space, access to Halliburton facilities, technical expertise, and an extensive network to accelerate their product to market.
'We are thrilled to see a Halliburton Labs participant secure their first round of financing, and congratulate the Ecliptic and NanoTech teams,' says Scott Gale, Halliburton Labs executive director, in the release. 'We are confident in the path forward as they work towards achieving a clean energy future.'
NanoTech's proprietary technology can be utilized in various industries — including defense and military, first responders and firefighting, commercial construction, chemical plants, oil and gas, aviation, utilities companies, medical facilities and much more — for eco-friendly spray-on insulation and fireproofing.
About Startup Grind Aggieland:
Startup Grind Aggieland was founded in 2014 at Texas A&M University. Always free, the montly meetup is open to anyone 18 or older. This local business and engineering organization is one of 650 chapters features funded and exited tech startup founders from the Aggie Network, as well as successful venture capitalists in Texas and beyond. Originally managed by student leaders, the organization is one of the first and largest chapters globally. Startup Grind Aggieland is professionally managed but still offers internships for student leaders at Texas A&M and also provides free conference badges and trips for students. Surface parking at LWIC is on site and a variety of beverages are also complimentary. Seating is limited to 125 guests but with social distancing, we space out more, so please register.
About Lake Walk Innovation Center:
The Lake Walk Innovation Center is an 8 acre corporate campus that features three building which include a 125 seat auditorium, a large kitchen and dining area, a huge gym and indoor full basketball court, member amenities like free WIFI and a lounge with custom shuffleboard and billiards tables ― as well as onsite concierge IT service, podcast studio, hooded dry lab and 24-7-365 access for members to all facilities. On site members include a local intellectual property and contract law firm whose partners are Aggies, an incubator for defense related technologies, a venture lab for Texas A&M University faculty and student technology enabled early stage enterprises, a transitional energy incubator, a space incubator, a software lab and three respected Texas based venture capital funds.