Naco Technologies is a Riga-based company specializing in advanced nano-coatings and novel materials for green hydrogen systems. Its coatings focus on improving the effectiveness and durability of electrolyzers and fuel cells and aim to provide alternatives to noble metals like platinum. The company positions its solutions as practical, ready-for-integration technologies that can help industrial hydrogen producers scale without material scarcity constraints. Naco plans to expand globally into key markets, intensify research and development, and strengthen its team and infrastructure to meet growing demand. The firm recently secured €1.2M in a pre-Series A round to support those efforts. CEO and co-founder Aleksandrs Parfinovics and investor representatives emphasized the strategic importance of the technology for the green energy transition. Naco develops nano-coating solutions and manufactures coated components aimed at lowering material use and cost in electrolyzers and fuel cells. The company uses precision plasma spraying and has created a catalytic platinum layer on electrodes for hydrogen applications. Naco supplies new material solutions to global players including Siemens Energy, Hyundai, and Plug Power. It positions itself to simplify hydrogen production by offering a full spectrum from coatings to ready-to-use parts. The startup raised fresh capital to build a manufacturing station for coated components and plans to attract further investment to place stations closer to clients’ factories.

Total raised

$3M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2023