X-nano closes a €3.7 million round
16 June 2026 - CorporateX-nano, a startup born from the Istituto Italiano di Tecnologia (IIT- Italian Institute of Technology), has closed a €3.7 million seed round. The transaction is led by MITO Tech Ventures – an Article 9 SFDR-compliant venture capital fund managed by MITO Technology, together with Pietro Fiorentini S.p.a. and a group of private investors.
The resources raised will allow the company to accelerate the industrial development of its technology and start the path towards the construction of a pilot plant for the sustainable production of synthetic graphite by non-catalytic pyrolysis of methane. This is the first step in a path aimed at developing a European supply chain for the sustainable production of high-performance synthetic graphite, a strategic material for lithium-ion batteries used in electric vehicles and energy storage systems.
X-nano was founded from the research activities of the team led by Fabio Di Fonzo, a researcher at the Center for Nano Science and Technology of IIT in Milan, with the aim of developing nanomaterials and advanced coatings for industrial applications related to the energy transition.
The company has developed a proprietary and patented industrial process based on a non-catalytic pyrolysis reactor capable of converting gaseous hydrocarbons of any origin – either fossil or bio-derived – into high-purity graphite for lithium batteries and hard carbon for sodium batteries. The main by-product of the process is hydrogen which can either be used as the energy source of the system or sold to other industrial plants, if another zero-emission source of electricity is available.
Graphite is a critical material for battery production, particularly for anodes. Developing a European supply chain for high-quality synthetic graphite therefore represents a significant step towards reducing dependence on non-European supply chains and strengthening industrial autonomy in the energy storage sector. Today, over 90% of global synthetic graphite production for anodes is concentrated in China. The spread of electric mobility is rapidly driving up demand for graphite, with an estimated increase of more than 300% by 2036 [fonte IEA https://www.iea.org/reports/graphite].
Massimiliano Granieri, Chairman of MITO Technology, commented: “At MITO Technology we are convinced that within the Italian research ecosystem there are genuine gems to be found. We have just discovered one at the Istituto Italiano di Tecnologia. With X-nano we are confident we can contribute to solving one of the main bottlenecks of the energy transition: the scarcity of high-quality synthetic graphite, a resource for which the Western world depends almost entirely on a small number of producing countries. The reduction of geopolitical dependence and a sustainable production process make us confident that X-nano can become a key player at international level and a highly attractive investment.”
Cristiano Nardi, Executive President at Pietro Fiorentini, said: “We are constantly seeking technological enablers to evolve the energy sector, particularly those that enhance gas systems. X-nano’s technology elevates the use of natural gas and biomethane to a higher level, extracting clean energy from methane in the form of turquoise hydrogen and converting the solid carbon into graphite. We are delighted to continue our journey with X-nano, contributing to its technological and industrial development, and are confident that this round further strengthens the shareholder base through the addition of expertise capable of accelerating market access.”
Fabio Di Fonzo, founder and CEO of X-nano, concluded: “Climate change is an urgent reality and electrification is an irreversible process. A battery requires many more materials than a combustion engine, and Europe cannot develop its own industry without controlling the entire supply chain of the key materials, as China does today. In 2022, Paolo Mutti and I founded X-nano to develop advanced and sustainable materials to accelerate the energy transition. Now we have decided to focus on the sustainable production of key materials for batteries. Our goal is to create a zero-emission and zero-water production process, offering the European battery industry truly sustainable materials, at competitive prices and without supply-chain risks.”
Focus on: X-nano
Nanotechnology for the energy transition: X-nano is a spin-off of the Istituto Italiano di Tecnologia (IIT). Leveraging the expertise acquired in the preparation of materials and coatings through low-environmental-impact physical processes, X-nano creates nanomaterials with properties that have remained unexplored until now. In fact, nanotechnology plays an increasingly crucial role in the energy transition, with applications ranging from hydrogen production to next-generation batteries, and even the nuclear energy of the future, including fusion. X-nano has already developed several advanced materials for battery production, from synthetic graphite created through “green” processes to high-performance nanostructured electrodes for vanadium redox flow batteries. These materials, among the most critical for the development of sustainable mobility and the integration of renewables into the power grid, will enable the development of batteries that are more sustainable, more efficient, and independent of geopolitical supply chain dynamics.
x-nano.it
Focus on: MITO Technology
An advisor to venture capital funds with a focus on technologies generated by, among others, universities and research centers, mainly Italian. It boasts a team composed of professionals with cross-cutting skills from technology transfer, to intellectual property management, to business strategy. The team has been joined by young Ph.D.’s with solid scientific backgrounds. In 2018, MITO Technology launched its first vintage, Progress Tech Transfer, dedicated to technologies for sustainability. In 2024, MITO Technology announced the launch of the second vintage, MITO Tech Ventures, which invests in technologies for ecological transition and decarbonization, toward the goal of Net Zero.
Focus on: Istituto Italiano di Tecnologia (IIT)
A state-funded scientific research centre that promotes technological development with the aim of supporting excellence in both basic and applied research, in order to foster the growth of the national economic system. IIT’s research activity is characterised by strong multidisciplinarity and spans four scientific areas: robotics, nanomaterials, computational sciences, and life sciences technologies. IIT’s output to date includes more than 20,000 publications, over 900 active competitive projects and more than 60 ERC projects, over 1,200 active patent titles, more than 900 signed commercial collaboration agreements, 41 incorporated start-ups and more than 50 in the launch phase. Patents are distributed as follows: 7% in computational sciences, 26% in life sciences technologies, 40% in nanomaterials, and 27% in robotics. IIT’s total staff numbers more than 1,900 people, of whom 50% come from abroad, representing 62 countries worldwide. The average age of IIT personnel is 37 years and 45% are women. In addition to the Central Research Laboratories — a network of 4 sites located across the Genoa area — IIT has 12 research centres distributed throughout Italy (Treviso, Turin, Aosta, two in Milan, Trento, Ferrara, Rome, Pisa, Pontedera, Naples and Lecce) and 2 outstations abroad (MIT and Harvard in the USA).
