Eindhoven-based SparkNano (formerly known as SALDtech), a Spatial Atomic Layer Deposition equipment provider for a green future, announced on Thursday, November 3, that it has secured €5.5M in a fresh round of funding.
The round was led by ALIAD (the venture capital arm of Air Liquide), with support from Dutch investors, including Somerset Capital Partners and Invest-NL. Existing investors, such as Innovation Industries, the Brabant Development Company (BOM), and TNO, also participated in the round.
SparkNano says it will use the funds to accelerate and expand its business sustainably.
“At SparkNano, we strongly believe that our Spatial Atomic Layer Deposition solutions can support the quest for a sustainable energy future. We are excited that our new and existing investors share this belief, and our customers will see that we have very reliable partners behind us,” says Huib Heezen, CEO of SparkNano. “SparkNano is looking forward to continuing the close cooperation with Air Liquide Venture Capital arm, TNO, and other partners on the process and material innovations. Furthermore, our presence in the Eindhoven high-tech ecosystem, with world-class expertise in high-tech equipment and atomic layer deposition, is important for our product development.”
SparkNano: What you need to know
Founded in 2018 as a spin-off of TNO (the Netherlands Organization of Applied Scientific Research), SparkNano develops and supplies Spatial Atomic Layer Deposition (Spatial ALD) technology, enabling customers to build low-cost and higher-performing devices for sustainable energy applications.
The devices include a new generation of electrolysers for green hydrogen production, fuel cells, batteries, and solar cells.
SparkNano has been focusing on Spatial ALD technology for a few years and has also created equipment that can apply thin films of materials inside porous materials. These depositions apply atomic-scale control of how much and where the material is positioned.
The Dutch company offers products ranging from flexible R&D tools to high-volume and large-area mass production tools for sheet-to-sheet and roll-to-roll production, enabling a seamless transition from lab to fab.
ALIAD invests in and supports startups tackling industrial, societal, and environmental challenges through technological innovation. The VC has invested over €25M in impact startups since 2020 and has invested in 40 companies.
“We are excited to invest in SparkNano in this new round and to support SparkNano’s growth through strategic cooperation,” says Vincent Brillault, Managing Director of Air Liquide Venture Capital fund. “SparkNano’s technology can significantly contribute to enabling the Energy Transition.”
Somerset Capital Partners is a family-owned investment firm focused on public and private companies in the consumer, entertainment, financial, food, life sciences, software, and real estate industries.
“SparkNano has the potential to become a major supplier in the energy market,” says Joes Daemen, Managing Partner of Somerset Capital Partners. “As such, the company will play an integral part in the energy transition, an ambition that sits at the heart of our investment strategy. We are keen to support the team in further developing its Spatial ALD technology.”