The development of "zero-emission" power and cooling technology in the UK received a boost today after self-styled 'clean cold' firm Dearman announced a new multi-million investment.
The £16m committment comes from investment firm Park Vale Capital and brings the total raised by Dearman in the last year to £19.5m, excluding grant funding. Dearman will now be able to bring the first application of its novel cooling technology to market and begin manufacturing in the UK, the company said.
"To have partnership of this scale, from a company as respected as Park Vale, is a recognition of the potential of our technology, the quality of our team and the rapid progress we have made to date," said Toby Peters, chief executive of Dearman, in a statement.
Dearman is working on a variety of applications for its liquid air-powered Dearman engine - a novel piston engine driven by the expansion of liquid nitrogen or liquid air which released only air or nitrogen. The low boiling point of liquid nitrogen means low or ambient heat can be used to power the engine, eliminating the need for a traditional fuel.
Dearman's first application of the engine is a transport refrigeration system to replace high emission diesel-powered units that keep refrigerated goods cool on the road. The new technology is set to be tested in commercial trials in early 2016. The company is also developing applications in buses and the built environment.
"Dearman is an extremely exciting company that is developing unique technology to address a clear global need - clean cold," said Katherine Priestley, managing director of Park Vale, which will work in partnership with Dearman to help it to establish new markets for the technology. "Although the applications of Dearman technology will bring demonstrable environmental benefits, it is the fact that they are also commercially attractive and even operationally superior that makes the company so promising."
Dearman employs over 60 people at its two sites in London and Croydon.
from Home - business_green http://ift.tt/1ZPolq7
Advertisement
Sourced by "Home Hacks". Scouring and supporting the art of DIY home projects by sharing links and information provided by numerous active reputable DIY veterans and company's. Any projects you start please be of proper age, follow all required safety measures, and use the required protective equipment when handling any chemicals, power tools, or during any construction project. If you need advice regarding your next project we suggest visiting Contractor Talk.
