Vitex and Investing For Purpose Invest in PCN Materials

Vitex, the largest paint manufacturer in Greece, and Investing For Purpose (IFP), an Athens-based impact investing venture capital fund backed by the European Investment Fund (EIF), are investing in PCN Materials, strengthening the company’s shareholder and financial base and supporting the next phase of its technological and commercial development.

PCN Materials is a Greek company that has developed visible-light-activated photocatalysis technology — a technology that belongs to an extremely limited category worldwide. The company’s know-how makes it possible to transform building surfaces into active photocatalytic purification systems, with applications in the decomposition of gaseous pollutants and volatile organic compounds (VOCs).

PCN Materials’ approach is not limited to developing individual products. The company has developed a range of advanced solutions that can be integrated into different materials and building applications, giving surfaces active functions beyond their traditional role as passive building elements.

PCN Materials’ technology has already been applied in major projects, establishing an initial level of technological and commercial validation and paving the way for its further expansion into international markets and industrial applications.

The new investment by Vitex and IFP supports the company’s next growth phase, with a focus on the commercial development of its products, scaling up production capacity, developing new applications and strengthening PCN Materials’ international commercial presence.

The participation of Vitex, which comes as a natural continuation of the successful placement of Vitex FOS in major projects adopting cutting-edge technologies, adds significant industrial expertise in paints, coatings and building materials to the investment group. At the same time, it creates opportunities for the further evaluation and use of PCN Materials’ technology in applications where surface functionality is a critical technical characteristic.

For IFP, the investment in PCN Materials is part of the fund’s strategy of financing and supporting companies with innovative solutions that deliver environmental benefits, measurable positive impact and international growth potential.