Clean Energy Trust Welcomes MITO Material Solutions to its Portfolio
MITO Material Solutions announced an oversubscribed $1M Series Seed funding round led by Dipalo Ventures and Clean Energy Trust today.
MITO Material Solutions is a cutting edge developer of additives that enable polymer manufacturers to enhance product performance.
This investment follows MITO Materials receipt of more than $1.1 million in R&D grants from the National Science Foundation and participation in the Heritage Group Hardtech Accelerator powered by Techstars in late 2019. Additional Series Seed investors who participated in this round include CavAngels, HG Ventures, Elevate Ventures, VisionTech Angels, and Cortado Ventures.
Led by married founders, Haley Marie and Kevin Keith, MITO Materials has pioneered a proprietary graphene-functionalization technique that creates hybrid polymer modifiers. MITO additives enhance fiber-reinforced composites and thermoplastics up to 135% beyond standard performance metrics.
“MITO’s remarkable technology has tremendous potential to positively impact many industries — from electric vehicles to bioplastics — and we have the utmost confidence in Haley as an operator and a leader,” said Paul Seidler, Managing Director at Clean Energy Trust. “We welcome MITO Material Solutions to our portfolio and look forward to supporting them throughout their growth and success.”
MITO E-GO and other in-development products are engineered to integrate into existing production lines at an extremely low concentration and with proven compatibility in a variety of material combinations. With MITO, manufacturers can replace existing metal components with composite materials; shedding weight without sacrificing durability.
“I believe this is a revolutionary moment in the industry. The world is shifting to a need for lighter, stronger, and more sustainable materials; right now we need something better than metal. The partners we secured through this funding round have pulled together strategic customers and suppliers that will help us scale and meet this very pressing market need,” commented MITO Materials CEO, Haley Marie Keith.
MITO Materials will use the funding to stay on the cutting edge as they enter the market with new innovations and continue with their mission to empower a new era of advanced manufacturing where products are expected to be built better and last longer.
