Periodic Reporting for period 1 - LNGCOLD (Improving energy efficiency and reducing carbon emissions by utilization of ultra-cold energy from the regasification of liquefied natural gas (LNG))
Berichtszeitraum: 2018-02-01 bis 2018-07-31
Cost-efficient and environment friendly provision of cold for industry, food handling, shipbuilding, and LNG (Liquefied Natural Gas) fuelled trucks is a rapidly growing market opportunity. Electrical refrigeration and air-conditioning consume almost 25% of the electrical energy in Europe, a tremendous saving potential and attractive business opportunity for new technologies. Eco ice Kälte GmbH develops technologies to exploit this attractive market potential, to generate significant growth and with this contribute to achieving the climate targets. One very promising approach results from the globally rising use of LNG as energy source, since a huge cold capacity at -162°C is stored in LNG, which is hitherto completely wasted during the regasification by heat exchange with ambient air or sea water at port terminals and LNG end user’s sites, respectively. Eco ice has developed and patented an innovative technology (TRL6) in various output classes to recover this highly valuable cold capacity without additional electrical power or gas consumption and provide it very cost-efficiently to the market.
The Eco ice technology has the potential, without any self-consumption of natural gas, to create electrical power savings of 5.000 MW, i.e. to replace the fossil fuels for several large power stations. The cold market is increasingly looking for such cost-efficient and eco-friendly alternatives, as confirmed by customer feedback. Even in a conservative business scenario, which assumes a technology conversion rate of only 5%, a profitable short term growth up to a high two digit million € revenue value can be expected, as confirmed by ongoing negotiations with potential launching customers and business partners. The feasibility study did result in completing the market study, concretising the business plan and developing an optimised business model and sales plan based on already initiated business partnerships.
The Eco ice technology has the potential, without any self-consumption of natural gas, to create electrical power savings of 5.000 MW, i.e. to replace the fossil fuels for several large power stations. The cold market is increasingly looking for such cost-efficient and eco-friendly alternatives, as confirmed by customer feedback. Even in a conservative business scenario, which assumes a technology conversion rate of only 5%, a profitable short term growth up to a high two digit million € revenue value can be expected, as confirmed by ongoing negotiations with potential launching customers and business partners. The feasibility study did result in completing the market study, concretising the business plan and developing an optimised business model and sales plan based on already initiated business partnerships.
A feasibility study has been implemented on technical and primarily economic aspects. Relevant IP and market data has been analysed. The aim to get detailed customer feedback on the existing prototype has been achieved. Novel fields of application have been identified. The market analysis, which has been implemented, confirms the USPs claimed against the competitors and the growing market potential of LNG cold recovery on a global scale.
In the feasibility study the following topics are covered:
• Innovative Technology
• Market environment, possibilities of application and market potentials
• Relevant trends, drivers and opportunities
• Fields of application of the overall system
• Market potential, characteristics of selected geographical targets
• Competition analysis and patent research
• Market entry strategy
• New business areas for international scaling of the LNG cold recovery technology
• Sales activities
• Sales targets, cost development, investments
As main result it can be stated that the commercialisation of the innovation project of Eco ice Kälte GmbH is feasible.
In the feasibility study the following topics are covered:
• Innovative Technology
• Market environment, possibilities of application and market potentials
• Relevant trends, drivers and opportunities
• Fields of application of the overall system
• Market potential, characteristics of selected geographical targets
• Competition analysis and patent research
• Market entry strategy
• New business areas for international scaling of the LNG cold recovery technology
• Sales activities
• Sales targets, cost development, investments
As main result it can be stated that the commercialisation of the innovation project of Eco ice Kälte GmbH is feasible.
The project will have a positive impact on the market position of Eco ice Kälte GmbH. Through the envisaged commercialisation a new technological solution with improved product features can be offered to existing and new customers. The topic of energy efficiency and reduction of carbon emissions in the field of cold and deep cold recovery from LNG ensures a USP to the company due to its importance in many different fields of application. In doing so Eco ice is able to enlarge its customer base additionally and contributes to a significant increase in sales, further growth of the company and to securing and creation of jobs in the region of Leipzig and worldwide. Hence, this provides the opportunity to not only respond to market developments but to shape the market by own capacity. The innovation leads to securing and expanding of the market position gained so far as well as further market shares. In addition competitiveness and the significance of the innovative capacity will be strengthened in the company.
The commercialisation of the future technology for LNG cold recovery will not only extend business divisions at Eco ice but also exploit the full potential of innovation management and new product demonstration in the field of highly efficient refrigeration technology within the company and in the region as well.
The commercialisation of the future technology for LNG cold recovery will not only extend business divisions at Eco ice but also exploit the full potential of innovation management and new product demonstration in the field of highly efficient refrigeration technology within the company and in the region as well.