I-Tech is a Göteborg, Sweden–based company founded in 2000 that develops Selektope®, a substance designed to prevent fouling by barnacles and other shell-forming animals on boats and ships with minimal interference with marine life. The company intends to commercialize Selektope® and has filed an application with EU chemical authorities for its use in bottom paint for ships and boats. Approval is expected in the fourth quarter of 2011, which the company says will enable expansion in Europe and the USA. Customers include large paint companies, and Volvo Penta has acquired the commercial rights to the technology for the leisure boat market. I-Tech is led by CEO Per Jansson. It has closed a SEK15m funding round to support commercialization.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2011