07 Jun 2017
Financing until 2020 to continue innovating in the field of energy harvesting
The company AEInnova, supported by Fundación Repsol through the Entrepreneurs Fund, has received funding to develop its energy harvesting projects, which allow for the generation of electricity from residual heat.
AEInnova, selected in the Fundación Repsol Entrepreneurs Fund's fourth call for proposals, has received new impetus with NEOTEC and H2020 LIFE+ funding. This spin-off from the Universitat Autónoma de Barcelona (UAB) has been working on developing new energy harvesting techniques for years, which aim to recover residual heat generated by industry and convert it into electrical energy using efficient and adaptable technology.
AEInnova currently has two products in the development phase.
- Indu-eye: a device which monitors industrial facilities and sends the resulting data electronically. It uses residual heat as a source of energy, meaning it doesn't need batteries and can therefore be ATEX certified (for use in explosive atmospheres) and used in all types of industries.
- Waste Heat Recovery Unit (WHRU): a device capable of recovering the residual heat generated in industrial facilities and transforming it into electrical energy, which it then supplies to other industrial control systems. This product is a development which will help the industrial sector comply with the environmental regulations established in the Paris Agreement and the Horizon 2020 y 2030 programmes.
To develop these products, AEInnova has obtained a Neotec loan from the CDIT (Centre for the Development of Industrial Technology of the Ministry of Economy, Industry and Competitiveness), being the highest rated energy company in the 2017 Neotec ranking. Thanks to a contribution of €197 000, two pilot studies are going to be carried to evaluate the feasibility of AEInnova's two products in the Spanish industrial setting. In fact, one of these pilot studies will take place in Repsol's Industrial Facility in Puertollano. Other projects from the Entrepreneurs Fund have already benefited from state funding.
What's more, the Catalonian company has also received €636 000 of funding from the European Commission's H2020 LIFE+ programme. This programme finances innovative projects in the climate change and environment fields. Thanks to this impetus, the WHRU team can carry out three pilot studies, allowing them to make any necessary improvements before launching their products on the market.
With this funding, AEInnova has guaranteed 60% of the financing it needs until June 2020. Congratulations to the team on their achievements!