[Press Release, 22 November 2019] Eco-Tech Ceram to crowdfund industrial heat decarbonisation solution
Revolutionary rechargeable “thermal battery” that captures waste heat from industrial processes seeks crowdfund investors
Paris, France – 22 November 2019
Eco-Tech Ceram (ETC), an industrial ecology engineering company supported by EIT InnoEnergy, has launched a crowdfunding campaign to accelerate the commercialisation of its technology Eco-Stock®. Based near Perpignan, ETC will raise 400,000€ from environmentally-conscious private and professional investors to help decarbonise heat-intensive industries.
Heat used by industry accounts for around 25% of all energy consumed on Earth. 36% of that heat is lost during industrial processes; a colossal waste that is both costly and carbon intensive. ETC’s innovation, Eco-Stock®, recovers the waste heat that is lost in industrial fumes and stores it in a “thermal battery” locally made from circular economy material. At the desired time, Eco-Stock® redeploys the stored heat to dry materials, preheat combustion air, or for the production of hot water, cold, or electricity with a 90% efficiency.
To accelerate the energy transition and within the framework of its strong CSR policy, Eco-Tech Ceram is committed to advancing with industrialists, territories but also citizens really interested in the future of the planet, and who already own 30 % of ETC’s capital.
The goal is to produce at least 100 Eco-Stock® units by 2023. If all units are commissioned, around 100,000 tonnes CO2 equivalent will be saved a year. Eco-Stock® crowdfund investors will receive an annual interest rate of 6% over three years. The round closes at the end of December 2019.
The innovation was recently installed at Céramiques et Développement Tegulys, a tile and brick manufacturer based in Haute Corrèze. At their factory, 40% of the oven’s heat is lost in the process of firing the bricks and tiles. Eco-Stock® captures and stores the waste heat which is then reused in the dryer or pre-cooking chamber with 90% efficiency. By installing Eco-Stock®, Céramiques et Développement benefits from carbon-free heat energy that is up to 80% cheaper than natural gas.
The specific buiness model of EcoStock® allows manufacturers, whatever their size, to install this solution without having to make any additional financial investment thanks to the intervention of a third-party financier. The latter make the investment and are reimbursed with the savings made thanks to Eco-Stock®. BNP Paribas therefore funded the installation at Céramiques et Développement.
ETC Founder Antoine Meffre said: “In Europe, decarbonising industrial heat represents a huge opportunity to accelerate the energy transition and reduce carbon emissions while improving efficiency and competitiveness for thousands of industrial sites.
“By crowdfunding on, LITA.co a platform dedicated to sustainable economy projects we can connect with likeminded citizens, as well as private and professional investors who are not only interested in returns, but on the future of the planet.”
Crowdfunding is one of several ways that ETC has raised finance and business support since it was founded in 2014. Since 2015 ETC has been supported by EIT InnoEnergy, Europe’s sustainable energy innovation engine, as part of its Highway™ programme, which supports early-stage start-ups in their go to market phase. Through start-ups like ETC, EIT InnoEnergy seeks to accelerate the transition to a sustainable energy future.