HT Materials Science

What HT Materials Science does

HT Materials Science is a Dublin, Ireland-based climate technology company founded in 2018 that develops and commercializes Maxwell, a patented nanofluid additive designed to improve heat-transfer efficiency in commercial and industrial cooling and heating systems. The technology is based on sub-micron aluminum oxide (alumina) particles suspended in water or water-glycol carriers, with the company claiming efficiency improvements of up to 15% over conventional fluids. The product family includes Maxwell W (water-based), Maxwell PG (propylene glycol), and Maxwell EG (ethylene glycol) formulations, alongside a proprietary Monitoring & Maintenance Unit (M2U) that tracks fluid pH and density to support ongoing system performance.

The company operates across four geographies—Ireland (headquarters), Italy (manufacturing plant in Lecce commissioned June 2022), the United States, and the United Arab Emirates—with approximately 25 employees growing to 35. Its business model centers on B2B sales of Maxwell concentrate and monitoring equipment to enterprise end users across data centers (Amazon, Ericsson), district cooling (Tabreed, Swire Pacific), oil and gas (Saudi Aramco), and pharmaceutical and industrial process cooling (Regeneron, Johnson & Johnson, Almatis), distributed through direct sales, HVAC OEM and ESCO channel partners, and regional distributors such as DKSH in Malaysia.

HTMS has raised approximately $20M+ in equity and grant funding to date, anchored by a $15M Series A in March 2023 led by Aramco Ventures, with additional participation from CDP Venture Capital, Barclays Sustainable Impact Capital, and Progress Tech Transfer, plus a €2.6M DTIF grant awarded in late 2025 for the DLCool data center consortium. The company’s strategic positioning emphasizes drop-in retrofit economics, third-party certifications (NSF, EcoVadis Bronze, International EPD), and industry recognition including the Global Cleantech 100 and BloombergNEF Pioneers awards (2026 cohort).

Name

HT Materials Science

Legal name

HT Materials Science Limited

Website

https://htmaterialsscience.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

HT Materials Science is a Dublin-based climate technology company that sells Maxwell, a patented nanofluid additive (sub-micron alumina particles in water or glycol) delivering up to 15% improved heat transfer, plus a monitoring unit, to enterprise customers in HVAC, district cooling, data centers, and industrial process cooling across Ireland, Italy, the USA, and the UAE.

Ownership category

akta.pro rank

Product category

Industrial Heat Transfer Fluids

NAICS

Heating Equipment (except Warm Air Furnaces) Manufacturing (333414), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Research and Development in Nanotechnology (541713)

SIC

Heating Equipment, Except Electric & Warm Air Furnaces (3433), Steam & Air-Conditioning Supply (4961)

akta.pro primary industry

Heat Transfer Fluids (IMAEAMAG)

akta.pro secondary industries

HVAC Equipment (Heating, Cooling & Air Handling) (IMAHAKAB), Heat Exchangers, Coils & Hydronic HVAC Components (IMADANAF), Battery Thermal Management & HV Cooling System Service (TLAKAMAC)

Keywords

• Nanofluid heat transfer
• HVAC cooling additives
• Thermal fluid technology
• Industrial cooling solutions
• Heat transfer efficiency

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Product Licensing: HT Materials Science licenses its Maxwell nanofluid additive technology to customers. The product is supplied as a concentrate (15% concentration) that is diluted to approximately 2% during installation. Each ton of cooling capacity typically requires 25 liters of concentrate.
2. Professional Services: Implementation services including system integration, installation support, and technical services for deploying Maxwell in customer cooling systems.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

HT Materials Science manufactures and sells Maxwell®, a drop-in nanofluid heat transfer additive comprising sub-micron aluminum oxide particles suspended in water or water-glycol mixtures. The product is supplied as a 15% concentrate diluted to approximately 2% during installation and is designed to improve heat transfer efficiency by up to 15% in existing closed-loop hydronic cooling and heating systems, without requiring capital-intensive retrofits or operational downtime.

Product overview

HT Materials Science offers Maxwell®, a patented line of heat transfer fluid additives based on sub-micron aluminum oxide nanoparticle technology. The product line consists of three formulations—Maxwell® W (Water), Maxwell® PG (Propylene Glycol), and Maxwell® EG (Ethylene Glycol)—each designed for different base fluid compositions in closed-loop hydronic HVAC systems. Maxwell® is a drop-in additive that improves heat transfer efficiency by up to 15%, reducing energy consumption and increasing system cooling capacity. The company also offers an optional Monitoring and Maintenance Unit (MMU) as an add-on to ensure proper fluid chemistry and performance monitoring. Maxwell® products are deployed across commercial, industrial, and data center applications globally.

Differentiator

Problem solved

Functional benefit

Brands

• Maxwell®: Patented heat transfer fluid additive for water-based cooling and heating systems that improves heat transfer by up to 15%. Available in W (Water), PG (Propylene Glycol), and EG (Ethylene Glycol) formulations.

Products and services

• Maxwell® W (Water) Aluminum oxide-based nanofluid engineered for use in closed-loop hydronic systems containing water where no phase change occurs. Increases thermal conductivity and convective heat transfer by up to 15%, deployed in commercial, industrial, and data center cooling applications.
• Maxwell® PG (Propylene Glycol) Aluminum oxide-based nanofluid engineered for use in closed-loop hydronic systems containing a water/propylene glycol mixture. Increases thermal conductivity and convective heat transfer, suitable for systems requiring freeze protection. NSF-registered for incidental food contact (HT1) and non-food contact (HT2) applications.
• Maxwell® EG (Ethylene Glycol)

Quantifiable outcome

• 15%+ heat transfer efficiency improvement
• +1 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and flagship.

• Dublin City University (DCU)coreStrategic or Co-development PartnerDublin City University is a consortium partner in the DLCool project, collaborating with HT Materials Science on a DTIF-funded research and development initiative for advanced cooling technology.
• Exergyn LtdcoreStrategic or Co-development PartnerExergyn Ltd is a consortium partner in the DLCool project alongside HT Materials Science, contributing to the DTIF-funded development of advanced cooling solutions.
• AmazonflagshipStrategic or Co-development PartnerHT Materials Science participated in the Amazon Sustainability Accelerator program and conducted pilot deployments of Maxwell across Amazon's UK fulfillment centers to improve cooling efficiency.
• TabreedflagshipStrategic or Co-development PartnerTabreed, a major district cooling provider, partnered with HT Materials Science for pilot deployments of Maxwell in district cooling applications in the Middle East region.
• Science Foundation Ireland / AMBERcoreStrategic or Co-development PartnerScience Foundation Ireland and AMBER research center collaborate with HT Materials Science on R&D initiatives for thermal energy applications and materials science.
• Trinity College DublincoreStrategic or Co-development PartnerTrinity College Dublin conducts research partnerships with HT Materials Science on thermal management and heat transfer technology.
• EcoLab NalcocoreStrategic or Co-development PartnerHT Materials Science is working with EcoLab Nalco to develop direct-to-chip cooling and immersion cooling applications for data centers, combining Maxwell nanofluid technology with EcoLab's water treatment expertise.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Dynalene: Dynalene is a US-based specialty manufacturer of heat transfer fluids and coolants for HVAC, refrigeration, and process cooling. It is the closest direct competitor to HTMS's Maxwell line in commercial and industrial thermal-fluid applications.
• Paratherm: Paratherm manufactures specialty heat transfer fluids for industrial process and HVAC applications. Like HTMS, it sells formulated thermal fluids into closed-loop systems where efficiency, stability, and compatibility are key purchase criteria.

Broad incumbents

• Ecolab (Nalco Water): Ecolab is a global water-treatment and specialty-chemicals incumbent that, through Nalco Water, supplies cooling-tower chemistry and is also an HTMS data-center cooling partner. Comparable through overlapping cooling-chemistry offerings and global enterprise distribution.
• Clariant: Clariant is a specialty-chemicals manufacturer serving industrial process and HVAC markets with additives and performance fluids. It competes broadly with HTMS in functional chemistry for cooling systems, though nanofluid additives are not its lead product.
• Solenis: Solenis supplies specialty chemistries for water-intensive industrial applications including cooling systems. It is comparable to HTMS as a potential competitor or channel partner for cooling-loop chemistry in commercial and industrial accounts.
• Veolia (Veolia Energie / Cooling Solutions): Veolia operates district heating and cooling networks globally and supplies cooling-loop chemistry and efficiency services. Comparable to HTMS as both a potential customer (for district cooling efficiency upgrades) and a competitor in service-based cooling efficiency offerings.
• Vertiv: Vertiv is a global provider of data-center thermal management and liquid-cooling infrastructure. Comparable to HTMS where Maxwell enters direct-to-chip and immersion-cooling applications through the DLCool and EcoLab initiatives.

Regional players

• Tabreed: Tabreed is the largest district cooling operator in the Middle East and an active HTMS pilot partner. It is comparable as both a customer adopting HTMS technology and a potential channel/operating partner for district-cooling deployments in the Gulf region.

Emerging players

• CoolIT Systems: CoolIT Systems specializes in direct-liquid cooling for high-performance computing and AI data centers. It is an adjacent competitor in the same data-center liquid-cooling category where HTMS's DLCool and EcoLab partnerships are targeting.
• Iceotope Technologies: Iceotope provides precision liquid-cooling solutions for data centers and edge computing. Comparable to HTMS as an emerging player in the same liquid-cooling-for-data-centers opportunity that HTMS is pursuing through Maxwell and EcoLab.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HT Materials Science