Celadyne Secures $4.5 Million to Accelerate Industrial Decarbonization with Durable Fuel Cells
Celadyne, the decarbonization and hydrogen solution company, announced that they have raised $4.5M in seed investment funding. The round was co-led by Maniv and Dynamo Ventures, with major participation from EPS Ventures.
Specifically, Celadyne’s materials and technologies replace the proton exchange membrane to create fuel cells that are more durable, and electrolyzers that are more compact and efficient. This newfound durability allows fuel cells to be utilized as an environmentally-friendlier alternative to diesel engines, and makes electrolyzers that produce low cost green hydrogen as fuel.
PaintJet, A Robotic Solution for The $175 Billion Painting Industry, Raises $3.5 Million
PaintJet, a robotics and material sciences company automating large scale commercial and industrial painting, today announced it has raised $3.5 million in seed funding led by Dynamo Ventures, with participation from MetaProp, Pathbreaker Ventures, and Builders VC.
The US currently needs more than 100,000 painters to meet demand, and that will only continue to worsen with more than 41 percent of painters in the workforce expected to retire by 2031. Corrosion currently costs the US 3 percent of its GDP, and 80 percent of painting/corrosion prevention costs are due to labor. In short, painting is specialized and expensive work that has to be done.
PaintJet helps business and facilities owners rethink how buildings are protected, through advanced robotics, data, imaging, and specialty coatings. Its technology enables painters to increase their productivity and decrease time on the jobsite, resulting in lower costs while guaranteeing application quality. The technology itself is a mobile lift attachment designed to quickly and uniformly apply paint or industrial coatings to large scale commercial projects at an accuracy of 0.001” thick. Precision application reduces overspray and improves coating transfer efficiency, reducing coating consumption by 25 percent.