Adept Materials raises first tranche of $4M seed round to commercialize building moisture control technology

D.R. Horton and PulteGroup lead round as Adept prepares to bring advanced building materials to market

SOMERVILLE, Mass., Aug. 6, 2024 /PRNewswire/ -- Adept Materials, an advanced materials startup, has announced the first closing of a $4M seed round. This equity funding will help bring its patented directional moisture control technology to market. In particular, the investment will fuel the commercial launch of its first product, an advanced interior wall paint and primer system, and the development of a directional water-resistive barrier product.

The round is led by D.R. Horton and PulteGroup, two of North America's largest homebuilders, joined by Massachusetts Clean Energy Center (MassCEC), a state-run economic development agency, and Point Cove LLC, an investment firm.

"D.R. Horton is dedicated to providing high-quality homes at affordable price points for individuals and families across the nation. We are interested in transformative products and technologies to enhance functionality, comfort and energy efficiency," said Brad Conlon, Senior Vice President of Business Development for D.R. Horton. "Adept is focused on developing products that will help solve several of the operational challenges homebuilders face. We are excited about our relationship with Adept Materials and are confident their products will bring added value to our new communities in the future."

"PulteGroup's mission is to create amazing communities where people can live their dreams," says Chuck Chippero, National Vice President, Strategic Sourcing and Innovation at PulteGroup. "We offer home designs that are consumer-inspired and built to the highest standards. PulteGroup is always looking for innovative, value-oriented products and sustainable technologies that deliver superior performance. We are excited about our partnership with Adept Materials to introduce new moisture management solutions to the residential construction industry."

The funds will enable Adept to refine and launch its first product — an advanced paint and primer system that incorporates the company's proprietary moisture control technology. The investment will also support continued R&D for follow-on applications of Adept's core technology, such as a water-resistive barrier product with directional moisture control capabilities. This effort includes running pilots in collaboration with Adept's strategic investors to demonstrate the technical performance of its products.

"Adept is excited to be partnering with two of the leading homebuilders in North America to develop solutions to the growing problems of moisture control in buildings," says Derek Stein, CEO and Founder of Adept Materials. "Moisture problems take an underestimated toll on the durability and operational efficiency of buildings, in addition to the human concerns of comfort and health," he added.

Adept Materials was founded in 2018 by Stein, a Brown University Physics Professor, who recently left his academic position to lead the company. Adept has been developing a patented system of material layers that work in concert to passively regulate moisture and humidity. This technology can be applied across a range of settings — including buildings, textiles, packaging and healthcare — to address the challenges that moisture and humidity present.

About Adept Materials
Adept Materials is an advanced materials company working to increase the durability, comfort, and energy efficiency of the materials around us. Adept's patented technology advances moisture, humidity, and thermal management. The company was founded by Derek Stein, a Brown University Physics Professor. Adept is headquartered at Greentown Labs in Somerville, MA. For more information, visit www.adeptmaterials.com.

Adept Materials Media Contact
Derek Stein
CEO and Founder
[email protected]

SOURCE Adept Materials

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