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VCIR 2010 – Cool Energy

posted by: slevine | posted on: 11:40 am

Cool Energy Logo11bCool Energy has developed an advanced-materials engine that converts heat to electricity. This low temperature engine is primarily used in solar applications (SolarFlow® System) and in waste heat recovery applications. The smart grid connected SolarFlow® System home energy system allows homeowners to cut their energy bills by as much as 75% and provides U.S. homeowners annual returns of up to 20%. Each installation emits zero pollution. The waste heat recovery application can be used with diesel generators, industrial processes and pellet stoves.

Market

Residential/Commercial—Target customers are owners of homes or commercial buildings in cold and reasonably sunny regions. Target regions in the US include the Northeast, Mid–Atlantic, Northern California, Rocky Mountain, Northwest and Midwest. International target markets include Canada, Northern European countries and Japan. The total addressable US residential market for the SolarHeart System is estimated at $1.2B. New home builds, commercial building installations, and exports more than double this total addressable market to exceed $3B.

Waste Heat—Using the wasted heat (exhaust and cooling fluid) from a diesel generator or microturbines, the SolarHeart Engine provides up to a 20% gain in power. For military and remote power applications where the effective fuel price can be as high as $15 per gallon, this new boost in efficiency is extremely valuable. Cool Energy has engaged in preliminary meetings with the Department of Defense and diesel generators manufacturers for validation and estimated market potential is $500M.

Management

¡ Dr. Samuel Weaver (Chairman, founder) has worked in the advanced materials industry for over 40 years and holds nine issued patents in the area of advanced materials. He has completed the sale Millennium Materials to Dyson Group PLC, and previous corporate sale of US Nuclear to Eagle–Picher.

¡ Sam P. Weaver (CEO/President, founder) has valuable sales, product development and engineering management experience (Network Photonics, InPhase Technologies, dBm Optics), as well as co–founding Colorado Photonics, and serves on the State of Colorado Clean Energy Development Authority board.

¡ Glenn Booth (VP, Marketing and Business Development) has deep experience in startup business development, marketing and engineering, bringing products to market with companies such as Boeing, Earthlink, Level 3 Communications, Vivato and Bay Networks/Nortel.

¡ Leslie Weise, (VP, Legal & Policy Affairs), LLM Environmental Law & Policy, has 20 years of business, policy and legal experience in the cleantech and semiconductor industries, including as corporate counsel for companies such as Applied Materials, Redback Networks, Honeywell and Xerox.

Financing

Cool Energy has been funded to date from $2.5M in private investment combined with $880k in grants (SBIR/NSF, DoE and State of Colorado). Cool Energy is seeking $3-5M that will cover beta/FCS units, testing and channel deployment.

CoolEnergySolarFlow