Our Innovation Analysts recently looked into emerging technologies and up-and-coming startups working on solutions for the energy sector. As there is a large number of startups working on a wide variety of solutions, we decided to share our insights with you. This time, we are taking a look at 5 promising thermal energy storage startups.
Heat Map: 5 Top Thermal Energy Storage Startups
Using our StartUs Insights Platform, covering 1.116.000+ startups & emerging companies, we looked at innovation in the field of energy storage. For this research, we identified 243 relevant solutions and picked 5 to showcase below. These companies were chosen based on a data-driven startup scouting approach, taking into account factors such as location, founding year, and technology among others. Depending on your specific criteria, the top picks might look entirely different.
The Global Startup Heat Map below highlights 5 startups & emerging companies developing innovative thermal energy storage solutions. Moreover, the Heat Map reveals regions that observe a high startup activity and illustrates the geographic distribution of all 243 companies we analyzed for this specific topic.
Hocosto – Underground Thermal Energy Storage
In recent years, the energy industry has seen a shift towards sustainable energy sources while slowly phasing out or reducing the dependency on fossil fuels. There has also been a significant increase in the cost to performance ratio of thermal energy storage. As commercial and public adoption of renewable energy becomes widespread, a large number of companies now develop thermal energy storage solutions.
Dutch startup Hocosto provides underground thermal energy storage solutions. The energy storage system collects the thermal energy from sunlight during summer and stores it within an underground heated water storage facility. The buffered thermal energy is then available for use in the winter for heating systems.
Nostromo – Modular Thermal Cell
The transition from conventional fossil fuel-based energy to renewable energy is increasingly becoming easier and more efficient. However, when it comes to renewable energy storage, most solutions still employ toxic materials that pose a challenge in terms of safe disposal. Startups are developing thermal energy storage solutions that outperform current storage methods, while also being environmentally friendly.
Israeli startup Nostromo develops a modular thermal cell solution. Their product, IceBrick, is an efficient replacement for electrochemical storage systems. In comparison to traditional lithium-based commercial chillers, IceBrick is safe for the environment as its main component is water. It also does not suffer from the limited charging cycles of lithium, which in turn improves its lifetime.
Malta Inc – Electro-Thermal Energy Storage
Renewable energy sources such as solar and wind are increasingly gaining in popularity to replace fossil fuels. However, they suffer from intermittence and are subject to changes in the environment, unlike fossil fuels which guarantee constant energy supply. Energy storage systems aim to solve this challenge by collecting excess energy and storing it when the generation levels are lower.
The US-based startup Malta Inc builds an electro-thermal energy storage system that converts electricity to thermal energy for storage. It later converts the thermal energy back into electrical energy whenever required. It stores the excess energy produced by solar, wind, and fossil fuels in a cost-efficient manner and uses conventional building materials.
Inficold – Off-Grid Solar Cold Storage
Off-grid solar-based cooling provides startups with the opportunity for building modern cooling systems. The use of compressors or inverters requires a power surge to initialize and presents challenges for off-grid solutions. Recent advancements in solar energy generation and storage systems tackle these challenges and make them a viable option for cooling and refrigeration.
Indian startup Inficold provides farm-level cooling systems that utilize thermal energy generated by solar panels. These systems enable the cooling of perishable commodities, such as fruits, vegetables, flowers, and milk. The company’s cold storage works by collecting solar energy and storing it by converting water to ice. This allows for cooling to be provided later when sunlight is not available.
Stash Energy – Smart Home Energy Storage
In many home electrical systems, heating and cooling consume over half of the energy utilization. As more homes switch to renewable sources, the problems with current energy storage and generation methods become more visible. The cumulative effects of these problems create more challenges than it solves. Improvements in smart home devices and the smart home ecosystem allow energy storage developers to integrate smart storage systems for improving energy efficiency.
Canadian startup Stash Energy develops an air-to-air heat pump with an integrated electric thermal storage. The system harvests energy during off-peak hours and uses it to provide heating or cooling during peak hours. This method reduces the burden on the electric grid and also allows for greater savings in electricity bills.
What About The Other 238 Solutions?
While we believe data is key to creating insights it can be easy to be overwhelmed by it. Our ambition is to create a comprehensive overview and provide actionable innovation intelligence so you can achieve your goals faster. The 5 thermal energy storage startups showcased above are promising examples out of 243 we analyzed for this article. To identify the most relevant solutions based on your specific criteria, get in touch.