Smart High Tech (SHT) has raised approximately SEK 102.4 million (about $10.5 million) through a directed share issue, with Henkel Ventures, the corporate venture capital arm of Henkel, taking around 71% of the issue and becoming a strategic investor in the company behind GT-TIM, a patented graphene-enhanced thermal interface material for cooling electronics. Henkel Ventures accounted for about 71% of the new shares issued, with the rest taken up by 17 existing SHT shareholders. Once the deal closes, Henkel Ventures will own roughly 9% of the company.
SHT says the proceeds will fund production capacity expansion and efficiency improvements at its manufacturing sites in Gothenburg, Sweden and Shanghai, China, along with working capital to support operational scale-up, and will also go toward repaying roughly SEK 27.9 million in shareholder loans.
The investment builds on a partnership between the two companies that began in November 2024 with a principal agreement covering GT-TIM, deepened in early 2025 when Henkel reviewed SHT's operations and approved a subsidiary as a supplier, and was publicly announced as a strategic partnership in July 2025. SHT received its first commercial order under the partnership in January 2026, and Henkel, alongside Thermal Grizzly, now serves as one of the company's distribution partners for GT-TIM.
"This investment strengthens the conditions for our continued commercialization and international expansion," said Johan Liu, chairman of SHT's board.
