CAMBRIDGE, MA - SLIPS Technologies, a company that creates fully slippery coatings, has raised $8.6 million in new financing, including investments from Anzu Partners, BASF Venture Capital, private investor and Swiss entrepreneur Hansjörg Wyss, and the Massachusetts Clean Energy Center (MassCEC). The new funds will be used for product development and testing, commercialization, and expansion of core technologies.
The announcement also includes a recently awarded $2.95 million grant from the U.S. Department of Energy's Advanced Research Projects Agency – Energy (ARPA-E) to develop and test SLIPS™ anti-fouling paints to address fuel efficiency and carbon emission problems from commercial cargo ships that are responsible for approximately 1% of the world's energy consumption.