Delft-based FOTONIQ Secures Investment for Sustainable Horticulture Spray Coating
Delft-based FOTONIQ has recently announced a significant investment led by Navus Ventures and Icos Capital for its sustainable horticulture spray coating, PAR+. The undisclosed funding round also included participation from existing investors, such as Phase2.earth and EG Wernink, further solidifying FOTONIQ’s position in the market. With the support of experienced Dutch VC firms and Family Offices, FOTONIQ aims to make a significant impact in the horticulture industry.
The funding injection will allow FOTONIQ to expand its production capabilities and accelerate the market roll-out of PAR+, a revolutionary sprayable coating that enhances the performance of high-tech greenhouses. Developed and patented by founder Willem Kesteloo as a spin-off company from PHYSEE, PAR+ brings year-round diffusivity inside the greenhouse without compromising growth light intensity. This cutting-edge technology increases
crop yield and reduces energy costs, making it a game-changer for the industry.
PAR+ works by making sunlight diffuse before it enters the greenhouse, resulting in a more evenly distributed light that reaches deeper into the greenhouse and lower parts of the crops. This leads to higher crop yields. Additionally, diffusivity ensures a more even distribution of heat inside the greenhouse, reduces peak temperatures of the crops, and minimizes the need to open roof windows to lower temperatures and the demand for additional CO2. PAR+ eliminates the need for seasonal coatings and allows for adjustments in lighting strategy, potentially decreasing the use of electricity.
The investment from Navus Ventures and Icos Capital serves as a testament to FOTONIQ’s immense potential. Navus Ventures, a venture capital firm associated with Lely (Farming Innovators), focuses on investing in high-tech startups that contribute to sustainable transitions in food and energy. Managing Director Eduard Meijer expressed excitement about the investment and the positive impact FOTONIQ’s technology can have on the industry.
Icos Capital, a collaborative fund that brings together startups and corporations to drive sustainability, recognizes the potential of FOTONIQ’s solution. With strong partnerships in the food, chemical, and agriculture sectors, the fund emphasizes the importance of FOTONIQ’s innovation in accelerating the sustainable development of these industries.
With this latest investment, FOTONIQ is well-positioned to bring sustainable horticulture to the forefront of the industry. Their PAR+ coating promises to revolutionize greenhouse farming by increasing crop yield and reducing energy costs. As the company scales up production and expands its market reach, the future of horticulture looks brighter than ever.
Analyst comment
Positive news. FOTONIQ has secured a significant investment led by Navus Ventures and Icos Capital. This funding will enable the expansion of production capabilities and market roll-out of their revolutionary PAR+ coating, enhancing greenhouse performance. With the backing of experienced investors, FOTONIQ is poised to make a significant impact in the horticulture industry. The future looks promising as the company scales up production and revolutionizes greenhouse farming.
