Cambridge, MA – Sept 8, 2015 – DropWise Technologies Corp., which provides novel, advanced technical coatings for industrial processes, today announced a joint-development agreement with Henkel Corporation, a leader in providing metal surface treatments, adhesives, and sealants worldwide.
“We are very excited to be partnering with a global leader in metal surface treatment,” says Adam Paxson, CEO of DropWise. “Henkel’s deep technical expertise and strong track record of bringing new innovations to their customers, will enable us to fast-track commercialization in key market areas.”
The Cambridge-based start-up is commercializing an advanced coating technology consisting of both durable materials and an innovative, vapor-based deposition process. The technology was developed out of a collaboration between two leading laboratories at the Massachusetts Institute of Technology (MIT). The patented application process, based on an initiated chemical vapor deposition (iCVD) technique, allows coatings to be applied for OEM and retrofit applications that have previously been unaddressable by traditional liquid-based approaches. Using this technique the company can create ultra-thin, pinhole free coatings that can be grafted to any metal surface, ceramics and even polymers.
“Collaborating with promising start-ups that provide access to cutting-edge future technologies is an integral part of our innovation strategy”, explains Mike Olosky, Corporate Senior Vice President and Global Head of Innovation & New Business Development, Henkel Adhesive Technologies. “Together with DropWise we can combine their unique technologies with our global market know-how in coatings to generate profitable growth for both partners in the future.”
One example use of DropWise’s coatings is a hydrophobic application in condensing heat exchangers, where the technology increases efficiencies by eliminating the insulating film of liquid that typically builds up on the surface. Target applications include industrial heat exchangers such as steam condensers in power plants, heating-ventilation and automotive air-conditioning as well as chemical processes. Increasing the efficiency of these systems allows for massive reductions in fuel consumption, emissions and coolant water use, particularly for thermal power plants, which are the largest contributors to global emissions and second largest consumers of water.
About DropWise Technologies Corp.
DropWise Technologies Corp. is based in Cambridge, MA and was founded at the end of 2014. The company is focused on providing innovative coatings and application processes originating from the collaboration of two labs at the Massachusetts Institute of Technology. DropWise develops durable coating solutions that solve problems related to heat transfer, fouling and corrosion, increasing efficiency and extending the lifetime of a wide variety of industrial equipment.
Henkel operates worldwide with leading brands and technologies in three business units: Laundry & Home Care, Beauty Care and Adhesive Technologies. Founded in 1876, Henkel holds globally leading market positions, both in the consumer and in the industrial businesses, with well-known brands such as Persil, Schwarzkopf and Loctite. Henkel employs almost 50,000 people and reported sales of 16.4 billion euros and adjusted operating profit of 2.6 billion euros in fiscal 2014. Henkel’s preferred shares are listed in the German stock index DAX.