From time to time, it is worth remembering that Latvia is home to many successful and innovative companies that carry our country's name far and wide through their work. One of them is the green hydrogen startup Naco Technologies, for which 2023 was a particularly successful year, as evidenced by the 1.2 million euros in investment raised at the end of the year.
The company primarily focuses on developing nano-coatings and other new materials for green hydrogen production. Labs of Latvia reports that the startup secured this funding from investors Impact Ventures and The Untitled Ventures. With the funds obtained, Naco Technologies plans to expand into strategic markets and increase research and development to create further innovations in the nano-coating segment. The company's co-founder and CEO, Aleksandrs Parfinovičs, emphasises that the funding will also allow Naco Technologies to accelerate its contribution to the green energy sector, with a focus on green hydrogen solutions. (...)