Waste heat is an enormous problem in Power Generation, Industrial Processes, Transport & other industries. The amount of waste heat produced worldwide every year is equivalent to 12 years of electricity consumption in the EU. Low-grade waste heat (“LGWH”) is defined herein as being water of <120ºC, usually 80º – 95ºC. Most power producers (across multiple industries) are making no use of their LGWH, yet have an enormous appetite for a commercial solution that will convert their LGWH to power. A solution to the LGWH problem could have a worldwide market of €440+ billion (excl. carbon credits etc) & reduce CO2 emissions by up to 700 million tonnes p.a. (c.2% decrease on 2014 levels). Exergyn has developed a patented engine that runs on hot water (the “Exergyn Drive™”). Technically, it converts LGWH to mechanical or electrical power.
We aim to be the first truly commercial solution to enable a mass-market of users to convert their LGWH to useful power. No such solution currently exists which makes our solution highly disruptive. Exergyn aims to become a European leader, and then a global leader in its field. We expect to achieve revenues of €1+billion within 7 years, by which time we plan to directly employ 400+ professionals in Europe, and would expect at least 5,000 indirect jobs to be created in Europe as a result. Through the profitable mass-deployment of our product, we aim to make a significant contribution to reducing global warming. If our initial product were to be fully deployed across the world, it could reduce global carbon emission by at least 700 million tonnes p.a. (c.2% reduction on 2014 levels). Alone we will not solve global warming, but if c.50 more companies like Exergyn can emerge with other innovative energy solutions, humanity should solve the climate change challenge.
The key objectives for this project are to be in a position where we are ready to produce up to 35 x 10kW Exergyn Drives™ per month by the end of the project, having reached TRL9. Over the following months we will be conducting 5 successful trials on a number of trial sites across the UK and Ireland. We have already demonstrated over 3,000+ hours of operation in-house on a customised test bed - a key milestone for potential buyers. We have also set records in cycling shape memory alloys achieving over 10 million cycles without degradation. This is key to ensuring a low maintenance cost, and ultimately ensures the engine is an attractive proposition. We have secured our key intellectual property tied, our suppliers have been chosen and our in-house production process has been validated. We have our key markets identified, our key trial partners in place, and our sales pipeline ready to go. Through dissemination at key events, we have made industry & the public aware of our product, our intentions and our capability, and of how the EU has helped us to get to this point.
