This article provides an analytical overview of 10 new heat recovery solutions. These companies offer technologies that offset carbon emissions, decarbonize industrial heat, and provide sustainable renewable energy. Additionally, companies featured here include advanced thermal management systems, waste heat recovery units, and integrated carbon capture and storage (CCS). Each company showcases distinct approaches to optimize energy usage and minimize environmental impact. Their contributions highlight the diverse and expanding applications of heat recovery technologies in industrial operations, power generation, and environmental management. This report was last updated 5 days ago. Spot an error or missing detail? Help us fix it by getting in touch!
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Key Takeaways
Drawing insights from the Big Data & AI-powered StartUs Insights Discovery Platform that provides data on over 4.7+ million emerging companies globally, we explore the evolving landscape of the heat recovery industry. This sector is marked by key trends and a substantial workforce, shaping its future. Here are some key insights at a glance:
- Current Heat Recovery Trends: Some of the major trends impacting the heat recovery industry are modular systems, hybrid technologies, phase change materials, waste heat boilers, and organic Rankine cycle.
- Heat Recovery Industry Stats: The sector comprises 8.3K+ organizations worldwide. On average, it employs about 11 people in 370+ new companies founded in the last five years, witnessing 2020 as the average founding year. Moreover, the average funding received by the heat recovery industry per round in the same span is USD 19.2 million.
- 10 New Heat Recovery Companies to Watch:
- Pyramp – Waste Heat to Electricity
- Entropy – Heat Capture System
- GREENTECH Technologies – Immersion Cooling
- Futraheat – Turbo Compressor Technology
- SeebeckCell – Liquid-based Thermoelectric Cells
- Heatrix – Carbon-Neutral Process Heat
- Sunaxer – Heat Absorbing Coatings
- Spar Systems – Waste Heat to Electricity
- CleanInnoGen – On-site Green Hydrogen Production
- Geotherm Electric – Digital Twins for Heat Recovery
Discover 10 out of 370+ Emerging Heat Recovery Solutions
In this section, we spotlight 10 new heat recovery companies offering solutions like immersion cooling computing, liquid-based thermoelectric cells, carbon-neutral process heat, and digital twins. These entities integrate on-site green hydrogen, waste heat recovery networks, and advanced thermal management systems. Read on to explore many more innovative solutions that these companies offer.
Note on Signal Strength
One of the unique metrics we feature for each company is Signal Strength, a proprietary data point generated by our Discovery Platform. It gauges the extent to which a company’s influence has permeated the global ecosystem of startups, scaleups, and emerging companies. This proprietary metric serves as a valuable guidepost for understanding a company’s standing in the broader market landscape.
1. Pyramp
- Founding Year: 2019
- Employee Range: 2-10
- Location: Ireland
- Signal Strength: Medium
- What they do: Pyramp uses thermophotovoltaic (TPV) technology to convert industrial waste heat into electricity. The company’s technology improves the conversion efficiency of waste heat into electrical power by leveraging its patented spectrally selective emitter material. The TPV system also recovers radiated waste heat without direct contact. It utilizes a modular, low-maintenance approach and finds application in high-temperature industries such as cement, steel, glass, and ceramics, reducing industrial energy consumption and CO2 emissions.
2. Entropy
- Founding Year: 2021
- Employee Range: 11-50
- Location: Canada
- Signal Strength: Strong
- What they do: Entropy’s heat capture system optimizes industrial waste heat recovery. This technology delivers short payout periods and low-risk economics for industrial applications. Moreover, the system easily integrates with existing industrial facilities to minimize operational downtimes. Industries such as natural gas processing, steel production, and power generation use this technology to decrease fuel costs and improve sustainability.
3. GREENTECH Technologies
- Founding Year: 2022
- Employee Range: 11-50
- Location: Switzerland
- Signal Strength: Medium Strong
- What they do: GREENTECH Technologies develops GREENBOX, a modular immersion-cooled data center that integrates heat recovery and load-balancing technologies. It maintains carbon-free and noiseless operations while achieving power usage effectiveness (PUE). GREENBOX enhances energy efficiency in sectors, like horticulture, data centers, utilities, smart cities, and more. The company’s technology cuts heating costs for horticultural growers while reducing the total cost of ownership for data centers. In utilities, it supports grid stability and sustainability. The technology also supports smart cities and industries by optimizing resource use and reducing environmental impacts.
4. Futraheat
- Founding Year: 2021
- Employee Range: 2-10
- Location: UK
- Signal Strength: Very Strong
- What they do: Futraheat offers TurboClaw, patented compressor technology. The company’s heat pump, Greensteam 360, uses this technology to deliver high-temperature process steam up to 150°C. This benefits sub-megawatt, high-temperature applications with a centrifugal compressor that operates at significantly lower speeds to minimize wear and reduce operational costs. The oil-free, magnetic bearing design of TurboClaw further ensures reliability and maintenance ease, making it suitable for industries requiring cost-effective heat solutions.
5. SeebeckCell
- Founding Year: 2020
- Employee Range: 2-10
- Location: USA
- Signal Strength: Very Strong
- What they do: SeebeckCell provides liquid-based thermoelectric cells to convert industrial waste heat into electricity. The company’s technology optimizes the direct conversion process using a synthetic material that requires no mining. Its ionic thermoelectric supercapacitor (ITESC) harvests energy from a temperature gradient to charge supercapacitor electrodes. This enables effective on-site power generation for various electrical instruments, facilitating reductions in overall power consumption. Industries such as battery electric vehicles (BEVs), agriculture, and space energy generation benefit from its technology.
6. Heatrix
- Founding Year: 2021
- Employee Range: 2-10
- Location: Germany
- Signal Strength: Very Strong
- What they do: Heatrix decarbonizes high-temperature industrial heat by converting renewable electricity into storable, high-temperature process heat. The company’s technology provides continuous, CO2-free process heat with thermal storage capabilities. It is cost-competitive against fossil fuels and significantly cheaper than green hydrogen. The modular container system improves scalability and facilitates easy integration with minimal retrofitting requirements. Its key applications include calcination, heat treatment, sintering, pelletization, and preheating processes.
7. Sunaxer
- Founding Year: 2021
- Employee Range: 2-10
- Location: Switzerland
- Signal Strength: Very Strong
- What they do: Sunaxer develops high-performance solar absorber coatings that enhance the efficiency of concentrating solar collectors. These coatings achieve a higher solar absorptance and thermal emittance through a patented heat treatment process. The enhanced optical performance and extreme durability at high temperatures allow solar manufacturers to boost the efficiency of solar systems. Renewable energy and utility companies are able to reduce carbon emissions and increase efficiency leveraging the company’s solution.
8. Spar Systems
- Founding Year: 2022
- Employee Range: 2-10
- Location: USA
- Signal Strength: Very Strong
- What they do: Spar Systems utilizes induced flow generator (IFG) technology to convert data center waste heat into electricity. It captures the heated air expelled by servers to generate power for onsite consumption or distribution to the local grid. The company’s IFG system also has low capital costs and a levelized cost of electricity. Its generator operates at temperatures 10°F above ambient, making it adaptable and suitable for various data center sizes.
9. CleanInnoGen
- Founding Year: 2020
- Employee Range: 2-10
- Location: Canada
- Signal Strength: Very Strong
- What they do: CleanInnoGen offers technology that transforms waste heat into hydrogen and oxygen. Its thermochemical water-splitting process based on the Cu-Cl cycle operates at a moderate-high temperature of 525 degrees to reduce electricity consumption. Moreover, this process utilizes renewable heat sources, making it a sustainable solution for on-site green hydrogen production. The company’s technology ensures zero emissions and incorporates a scalable, modular design that is adaptable across sectors. CleanInnoGen benefits industries such as heavy manufacturing, chemical production, and energy sectors.
10. Geotherm Electric
- Founding Year: 2021
- Employee Range: 2-10
- Location: Netherlands
- Signal Strength: Weak
- What they do: Geotherm Electric provides waste heat recovery networks for the process industry. It optimizes heat consumption to maximize CO2 reductions and energy savings. The company creates a digital twin of the plant’s heat sources and sinks. It then applies advanced analysis to design the optimal heat recovery network. This network utilizes methods like reuse, storage, upgrade, and conversion to ensure effective heat management. Geotherm Electric’s digital tools offer insights into heat balance and potential CO2 and gas reductions, benefitting sectors like the chemical and paper industries.
Quick Tip to Find New Heat Recovery Solutions
Utilizing a SaaS platform like the Discovery Platform for identifying new heat recovery solutions provides significant benefits compared to traditional scouting methods:
- Streamlined Efficiency: The Discovery Platform offers advanced tools that streamline the scouting process. It replaces your hours of conventional desk research, saving time and resources in identifying heat recovery innovations.
- Access to Real-time Insights: Gain a competitive edge with up-to-date information on the latest trends in the heat recovery industry. The platform keeps you informed with near real-time updates on emerging heat recovery companies and news, enabling you to make swift and informed decisions.
- Tailored Exploration: Customize your search to focus on specific niches within the heat recovery sector, such as waste heat recovery networks, concentrated solar collectors receivers, or liquid-based thermoelectric cells. The platform’s diverse filtering options allow you to target your scouting efforts precisely, ensuring that you find the most relevant and groundbreaking companies in the field.
Ready to Explore All New Heat Recovery Solutions?
We’ve explored the dynamic landscape of the heat recovery industry, examining the latest trends and spotlighting exceptional companies driving innovation. To dive deeper, download our free Energy Report or schedule a demo of the Discovery Platform for a customized exploration of these groundbreaking developments. Interested in enhancing our coverage of startups and tech? We value insights from experts like you – reach out!
