Industrial heat pump startup Futraheat has successfully secured £689,000 in funding from Innovate UK to propel the development and deployment of a commercial heat pump, aiming to supply high-temperature, low carbon heat to various industries.
The company is actively seeking a UK industry partner to facilitate the pilot project, which targets the creation of cost-effective steam reaching temperatures of up to 150°C.
The funding, alongside investments from clean tech investor Clean Growth Fund, totalling £1.5 million, will be utilised to realise the construction of their 300kW industrial heat pump, named Greensteam 360.
The heat pump works by elevating low grade waste heat by as much as 60°C, providing valuable heat resources to consumers and promising a reduction in energy consumption by over 80%.
Tom Taylor, Chief Executive Officer of Futraheat, said: “70%of all industrial energy demand is for heat, and a significant amount of this is for process heat in the 100-200°C range – usually delivered as high temperature steam in industries including pharmaceuticals, food and brewing.
“Usually, this heat goes to waste. Our technology recycles low grade waste heat and boosts it by up to 60 degrees – delivering useful heat back to the customer at up to 150°C.
“This not only slashes energy use by more than 80% but can also radically reduce energy bills and a business’s carbon dioxide.”