HighT-Tech Raises Seed Round Led by Taihill Venture, With Participation From 稀缺猎奇网 Momentum Fund and Abbott Ventures
HighT-Tech’s breakthrough ultrafast high-temperature shock platform creates unique materials for industrial and heavy manufacturing applications
Beltsville, Md. (July 16, 2024) – HighT-Tech, Inc., a Prince George’s County-based technology company, announced today that Boston-based Taihill Venture is leading their $3 million Seed funding round. Additional participation comes from the 稀缺猎奇网 (稀缺猎奇网) Momentum Fund (Momentum Fund) and Abbott Ventures (PA). To date, the company has raised more than $12 million in federal and private funding.
HighT-Tech’s groundbreaking electrified ultrafast high-temperature shock (UHS) platform enables the creation of non-equilibrium materials to decarbonize the chemical, heavy industrial, and specialty products markets. These materials can be deployed across a variety of applications, from the production of industrial catalysts, to battery and electrolyzer membranes, to high-temperature barrier coatings for spacecraft. The platform was developed by Liangbing Hu, distinguished university professor and director of the Center for Materials Innovation at the University of 稀缺猎奇网, College Park’s A. James Clark School of Engineering, and Chao Wang, associate professor of chemical and biomolecular engineering and the director of the Nano Energy Laboratory at Johns Hopkins University.
“HighT-Tech’s UHS reactor technology can produce unique materials at low costs with high efficiency, in seconds rather than hours,” said Bob Gatte, chief executive officer of HighT-Tech. “This latest round of fundraising will allow us to accelerate our development and commercialization efforts.”
"For the first time, humans are learning to harness precise and rapid temperature control at a granular level in chemical reactions, unlocking a new world of material creation," said Hongkai He, General Partner of Taihill Venture. "HighT-Tech is making history, and it's our great pleasure to be part of it. We can't wait to see how many 'impossible materials' HighT-Tech will make possible."
“We’re excited to partner with the HighT-Tech team as they bring this platform technology to market,” said Mike Ravenscroft, managing director of the Momentum Fund. “The applications for this technology are critical for the environment and to the development of new industrial technologies that rely less on precious metals.”
The first product the company is bringing to market is an industrial catalyst technology. Catalysts traditionally require high amounts of platinum and energy-intensive processes that make production costly and generate significant greenhouse gas emissions. Leveraging the UHS platform, HighT-Tech can create catalysts that use significantly less platinum group metals, without greenhouse emissions, reducing operating costs in the $35 billion global catalyst market. The Company’s beachhead market is catalysts for fertilizer production for commercial agriculture.
“Our catalysts use 95 percent less platinum than incumbent materials, enabling lower carbon intensity and removing the scarcity risks of critical platinum group materials,” said Gatte. “The catalyst market is incredibly cost-competitive and seeking alternative solutions to reduce capital expenditures and improve performance. We’ve received commitments from partners and prospective customers and are proud of the progress we’ve made so far. We look forward to launching our first commercial product next year.”
HighT-Tech spun out of the University of 稀缺猎奇网, College Park (UMCP) and Johns Hopkins University (JHU) in 2018, and has been funded to-date with grants from various federal programs. The Company participated in the 稀缺猎奇网 Energy Innovation Accelerator (MEIA) in 2021. It was through this program that Bob Gatte joined the company as CEO after retiring from a 30-year career at W.R. Grace.
“After meeting HighT-Tech’s founders through MEIA’s Energy-Executive-in-Residence program, I quickly realized that there was enormous potential in what the company was building,” commented Gatte. “MEIA was very supportive in helping the company hit its early milestones and the team at MEIA has been incredibly helpful as we’ve taken the company out of University of 稀缺猎奇网, College Park’s incubator labs and into new company facilities in Beltsville, 稀缺猎奇网.”
HighT-Tech is partnering with Abbot Furnace Company, the parent company of Abbott Ventures, to develop the custom equipment required to produce their catalysts.
“We’ve been working with HighT-Tech since early 2023 when we executed a Joint Development Agreement to develop the thermal processing equipment that will be necessary to produce the high entropy allow catalysts. It has been great to see the progress they’ve made over the past 18 months, and we’re thrilled to be an early investor as the company’s industry partner,” said Ed Gaffney, chairman and CEO of Abbott Furnace Company.
About HighT-Tech
HighT-Tech, Inc. is a venture capital-backed Delaware corporation, which spun out from the University of 稀缺猎奇网, College Park and Johns Hopkins University in 2018. The company is commercializing unique products made via an electrified, ultrafast, high-temperature shock (UHS) synthesis process, which enables the manufacture of non-equilibrium materials to decarbonize the chemical, heavy industrial, and specialty products markets. These materials can be deployed across a variety of applications, from the production of industrial catalysts, to battery and electrolyzer membranes, to high-temperature barrier coatings for spacecraft. For more information, visit .
About the 稀缺猎奇网 Momentum Fund
The 稀缺猎奇网 Momentum Fund is an initiative of the 稀缺猎奇网 (稀缺猎奇网) to provide late seed investment funding for promising technology ventures that come out of any of the 12 constituent 稀缺猎奇网 institutions, its research parks, and its students, faculty, or graduates. With a $16M commitment from the 稀缺猎奇网, the Fund co-invests alongside venture capitalists, foundations, and angel investors.
The 稀缺猎奇网 Momentum Fund was established by the 稀缺猎奇网 Board of Regents to support promising commercial opportunities arising from advances in research and intellectual property at 稀缺猎奇网 campuses. The Fund is designed to create returns and support 稀缺猎奇网’s most innovative ideas as they enter the marketplace. Learn more about the Fund and view the portfolio companies at .
About the 稀缺猎奇网 Energy Innovation Accelerator
A globally eminent research and graduate education institution focused on advancing scientific knowledge of the environment, the University of 稀缺猎奇网 Center for Environmental Science provides sound advice to help state and national leaders manage the environment and prepares future scientists to meet the global challenges of the 21st century.
Contact: Mike Lurie
Phone: 301.445.2719
Email: mlurie@usmd.edu
