The project allowed us to explore the most critical commercialisation and technological aspects of innovation in more detail. We received stronger confidence that our PAC technology is unique, allowing us to fine-tune our value proposition.
The main takeaways were:
1. Market development study: We realized that Initial assumption was more or less correct. Nevertheless, we discovered that our primary target group includes industrial operators in Europe with natural gas-based heating systems that have a heat power capacity greater than 300 kW instead of initially assumed 1 MW. We gain a number of relevant insights from the end-customer perspective and discovered some alternative niches (the high-temperature need in certain industries and in the decarbonization roadmap)
2.IP strategy development: In collaboration with the IP protection top experts we were able to extract and articulate the base structure of the potential IP map. It is also critical that we were able to identify and initiate the preparation of the next three most promising patents. Nevertheless, we also understand that our potential IP landscape is much more complex than we initially thought. Thus the factors like territorial protection and licensing models will be further developed in collaboration with experts.
3.Develop a product assurance and certification action plan. In close cooperation with 3’d party experts we were able to elaborate technological and regulative aspects of HERC development roadmap from current development stage (TRL5/6) until the market entry. Based on the physical principles of chip performance we also the types of tests that need to be done either by ourselves or in collaboration with partners to gain CE marking
4. Business plan development After summing up the previous sections customer expert reflection and numerical input data - we managed to enhance our business model and financial projections enormously.
5. In summary, we believe that the feasibility exercise helped enormously gather market and customer understanding in order to design a much better value proposal. Collected insights and data gave us the confidence to take the next step in the road towards the market
