Latent Heat Solutions LLC

What Latent Heat Solutions LLC does

Latent Heat Solutions LLC (operating as LHS Materials) is a privately held specialty materials company founded in 2000 and headquartered in Golden, Colorado. The company develops and manufactures phase change material (PCM) products for lithium-ion battery thermal management and safety. Its core technology portfolio comprises two product lines: XTS (eXtreme Thermal Safety), a patented PCM system designed to capture runaway heat, extinguish flames, and control ejecta during thermal runaway events; and Fill & Flow, a family of passive thermal regulation materials (five formulations spanning 35°C to 63°C phase transition temperatures) that conform to and fill enclosed battery pack cavities. The company sells customized solutions directly to enterprise customers through engineering consultation, with multi-year contracts and application-specific integration support across automotive/EV, medical devices, robotics, consumer products, aerospace and defense, and energy systems verticals.

The company's revenue model is based on one-time product sales of proprietary PCM components, supplemented by engineering design support. It operates a 13,000 sq ft headquarters in Golden for engineering, R&D, and pilot production, a 30,000 sq ft wholly-owned manufacturing facility in Taiwan, and a 20,000 sq ft joint venture manufacturing facility in India. No external funding rounds, institutional investors, or public listings are disclosed. The leadership team is led by President Tim Riazzi and Managing Director Joe Kelly, with an engineering and operations team of approximately 8 US-based employees. The company targets battery pack designers and OEMs through a sales-led GTM motion, with customer acquisition driven by 'Speak to an Engineer' calls-to-action and technical content marketing via its blog and use case documentation.

Name

Latent Heat Solutions LLC

Legal name

LHS Materials

Website

https://lhsmaterials.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Short description

Latent Heat Solutions LLC is a privately held specialty materials company that develops patented phase change material (PCM) products for lithium-ion battery thermal management and thermal runaway protection, selling customized XTS and Fill & Flow solutions directly to battery pack designers across automotive, medical, aerospace, and energy storage sectors.

Ownership category

akta.pro rank

Product category

Battery Thermal Management Materials

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Plastics Foam Products (3086)

akta.pro primary industry

Thermal Management & Safety Components for Battery Packs (EUAFABAL)

akta.pro secondary industries

Phase-Change Material (PCM) Thermal Storage (Encapsulated, Building-Integrated) (EUAFANAD), Thermal Management Systems for EVs (Battery/E-Powertrain Cooling & Heating) (IMACACAG), Thermal Management & Safety Systems (cooling, fire detection/suppression, venting) (IMAGAHAI), Automotive Thermal Management for Electrified Powertrains (Battery/Inverter/Motor Cooling) (IMACALAD)

Keywords

• Battery thermal management
• Phase change materials
• Thermal runaway protection
• Lithium-ion battery safety
• Battery fire suppression

Headquarters

HQ city

Golden

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Thermal Management Materials and Systems: Sale of proprietary phase change materials (XTS and Fill & Flow products) for battery thermal management and safety applications. Products are sold as components/systems for integration into customer battery packs. Revenue is generated through product sales with customization and engineering support services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Latent Heat Solutions develops and manufactures proprietary phase change material (PCM) products for lithium-ion battery thermal management. The company sells two core product lines: XTS (eXtreme Thermal Safety) for active thermal runaway mitigation—capturing and converting runaway heat to extinguish flames, control ejecta, and block propagation—and Fill and Flow for passive thermal regulation that fills enclosed battery cavities to provide energy absorption and thermal homogeneity.

Product overview

Latent Heat Solutions offers a unified portfolio of phase change thermal management solutions centered on two core product lines: XTS (eXtreme Thermal Safety) for active thermal runaway protection and Fill and Flow for passive thermal regulation. XTS uses patented PCM technology to capture and convert runaway heat, extinguish flames, and block ejecta during thermal runaway events. Fill and Flow provides passive energy absorption through multiple material variants (F&F-89 through F&F-93) with varying phase transition temperatures for different battery pack requirements. XTS SC1 Composite serves as a supplementary barrier material for enhanced ejecta protection. Both product lines are designed for lithium-ion battery applications across automotive, aerospace, medical, robotics, and energy storage industries.

Differentiator

Problem solved

Functional benefit

Brands

• XTS: Patented thermal runaway mitigation technology that stops propagation, controls ejecta, and extinguishes flames. Designed for battery modules and packs in safety-critical systems.
• Fill and Flow

Products and services

• XTS (eXtreme Thermal Safety)
• Fill and Flow
• LHS F&F-89
• LHS F&F-90R
• LHS F&F-91
• LHS F&F-92
• LHS F&F-93
• XTS SC1 Composite

Quantifiable outcome

• Propagation delayed by up to 15 minutes during thermal runaway events
• +2 more outcomes

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Croda International: Croda supplies specialty additives and phase change materials used in thermal management applications, including construction and electronics. As a specialty chemicals incumbent, Croda competes with LHS in PCM supply but serves a much broader end-market portfolio.
• Henkel: Henkel's Adhesive Technologies division supplies thermal interface materials, gap fillers, and potting compounds widely used in EV battery pack thermal management. Henkel competes with LHS's Fill & Flow product in battery thermal regulation but as part of a much broader adhesives portfolio.
• 3M: 3M offers thermal management materials and tapes used in EV battery packs and electronics cooling. As a diversified industrial incumbent, 3M competes broadly in battery thermal interface materials and insulation but does not specialize in PCM-based thermal runaway solutions like LHS.
• Saint-Gobain: Saint-Gobain produces high-performance insulation materials and engineered fabrics used in EV battery safety and thermal management. Saint-Gobain competes with LHS's barrier and insulation products but across a much wider building products and industrial materials portfolio.
• DuPont: DuPont supplies Nomex and other thermal-resistant materials used in EV battery safety and electrical insulation. As a large diversified chemical/materials incumbent, DuPont competes with LHS in battery safety materials but across a much broader portfolio.
• BASF: BASF supplies battery materials including thermal management additives and specialty chemicals used in EV cell and pack manufacturing. As a large chemicals incumbent, BASF competes with LHS at the materials level across multiple battery value-chain applications.

Direct peers

• Aspen Aerogels: Aspen Aerogels' PyroThin product line provides thermal runaway barrier solutions for lithium-ion battery packs, directly competing with LHS's XTS in the same EV and energy storage safety market with a different material platform (aerogel vs. PCM).
• PureTemp: PureTemp is a US-based bio-based PCM manufacturer offering phase change materials for thermal regulation across multiple applications including electronics and energy storage. PureTemp is a direct comparable to LHS's Fill & Flow product line in the underlying PCM chemistry.
• Boyd Corporation: Boyd Corporation manufactures engineered thermal management materials and battery safety solutions, including cooling pads and insulation barriers for EV battery packs. Boyd is a direct comparable to LHS in delivering application-specific thermal management components to automotive and energy storage OEMs.
• Rubitherm Technologies: Rubitherm is a German-based PCM specialist supplying micro-encapsulated and bulk phase change materials for thermal energy storage and temperature management. Rubitherm competes with LHS at the PCM chemistry level for thermal regulation and energy storage applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lhsmaterials

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Latent Heat Solutions LLC