i-TES, a Turin, Italy-based deep-tech startup that develops innovative thermal storage solutions, raised €1.4m in funding.
The round was led by EUREKA! Venture SGR through “Eureka! Fund I – Technology Transfer”, along with CDP Venture Capital SGR through Tech4Planet.
The company intends to use the funds to expand the customer portfolio by strengthening the facilities and the team, with new competencies related to production and commercialisation of products, and to invest in the technological development of new products such as thermochemical materials.
Led by Michele Santovito, Cofounder and CEO, i-TES focuses on developing thermal storage batteries with phase change materials (PCMs) and thermochemical materials (TCMs). These advanced materials exploit he physical phenomenon of change of state to accumulate and release large amounts of energy. Essentially, they are able to absorb and release large amounts of heat when they pass from one physical state to another, e.g. from the liquid to the solid state and vice versa.
The company operates within the 2i3T Business Incubator and Technology Transfer of the University of Turin.
FinSMEs