This article delves into 10 new thermal energy solutions that pioneer the industry using advanced technologies. These solutions include scalable solutions for carbon-free power generation, distributed ice-powered battery systems, and sustainable heating and cooling. This list of new thermal power solutions also showcases companies that excel in technical prowess and push the boundaries of environmental sustainability. Each company demonstrates the vast potential of innovative thermal energy in residential, commercial, and industrial domains, solidifying the critical role of new thermal energy companies in the clean energy transition.
Continue reading to gain up-to-date and data-driven insights on:
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 thermal energy industry. This sector is marked by key trends and a substantial workforce, shaping its future. Here are some key insights at a glance:
- Current Thermal Energy Trends: Key trends include decarbonization, hybrid energy systems, waste heat recovery, latent heat storage, and green hydrogen.
- Thermal Energy Industry Statistics: The thermal energy sector comprises 9.6K+ organizations worldwide. On average, the industry employs about 9 people in 700+ new companies founded in the last five years, with 2020 as the average founding year. Moreover, the average funding received by the thermal energy industry in the same span is 13.9 million.
- 10 New Thermal Energy Companies to Watch:
- Thule Energy Storage – Distributed Ice-powered Battery System
- Magneto – Novel Magnetocaloric Materials
- MGA Thermal – Long-Duration Energy Storage
- Lumare Energi – Ocean Thermal Energy Conversion
- Build to Zero – Power-to-Heat (P2H) Technology
- BMTA&C – Off-grid Refrigeration
- Aed Energy – Carbon-free Power Generation
- Ubiquetherm – Zero Carbon Heating and Cooling
- Upthermo – Waste Heat Recovery
- Energy Security – Integrated Electrical & Thermal Systems
Discover 10 out of 700+ Emerging Thermal Energy Solutions
In this segment, we unveil 10 new thermal power solutions leading the way in long-duration energy storage, ocean thermal energy conversion, and P2H technology. They craft systems that capture and store vast amounts of heat, offering reliable, renewable energy solutions. They combine ingenuity with practicality, delivering flexible and efficient thermal power across a range of applications. Read further to find out the best solutions that exemplify the dynamic capabilities of these innovators.
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. Thule Energy Storage
- Founding Year: 2020
- Employee Range: 11-50
- Location: USA
- Signal Strength: Very Strong
- What they do: Thule Energy Storage offers Ice Bear, a distributed ice-powered battery system for heating, ventilation, and air conditioning (HVAC) cooling load management. It utilizes behind-the-meter batteries to divert air conditioning demand from peak to off-peak hours. Ice Bear operates by freezing water during night-time by leveraging lower energy rates and then using the ice to cool buildings during peak demand times. It also features smart-grid technology to monitor and control the cooling process. The company’s product benefits commercial, industrial, and residential customers, reducing carbon-intensive peaking generation and eliminating expensive transmission upgrades.
2. Magneto
- Founding Year: 2020
- Employee Range: 2-10
- Location: Netherlands
- Signal Strength: Very Strong
- What they do: Magneto utilizes advanced magnetocaloric materials (MCMs) for efficient thermal energy conversion. These MCMs, capable of altering temperatures under varying magnetic fields, enable heating, cooling, and power conversion technologies. Magneto enhances energy conversion efficiency and temperature range through patented materials designed for waste heat to power conversion. Additionally, it uses shaping techniques, including 3D printing, to optimize cost and functionality.
3. MGA Thermal
- Founding Year: 2019
- Employee Range: 11-50
- Location: Australia
- Signal Strength: Very Strong
- What they do: MGA Thermal creates scalable thermal energy storage solutions, utilizing miscibility gap alloy (MGA) technology for efficient, sustainable energy management. Its MGA blocks store energy as a thermal energy storage system (TESS) in a solid-to-liquid phase change. This offers a high-capacity, low-cost, and environmentally friendly alternative to traditional methods. The company’s solution converts intermittent renewable energy into steady, reliable thermal energy or electricity, addressing industrial heat and power needs. This technology supports continuous energy supply and significantly improves efficiency, benefiting sectors aiming for carbon-neutral operations.
4. Lumare Energi
- Founding Year: 2019
- Employee Range: 2-10
- Location: Indonesia
- Signal Strength: Medium Strong
- What they do: Lumare Energi harnesses ocean thermal energy conversion (OTEC) to generate continuous, emission-free power and produce high-mineral drinking water. Its technology relies on the temperature differential between warm surface and cold deep seawater. This approach vaporizes and condenses a working fluid in a closed-loop cycle that drives turbines. The utilization of deep sea water (DSW) further ensures the production of clean, mineral-rich water, offering a dual output from a single process. Lumare Energi’s infrastructure, requiring minimal land use, allows for scalable deployment with a low environmental impact, benefitting regions with accessible warm and cold seawater gradients.
5. Build to Zero
- Founding Year: 2022
- Employee Range: 11-50
- Location: Spain
- Signal Strength: Very Strong
- What they do: Build to Zero develops ThermalBox technology, targeting net-zero emissions in heat generation. This system employs power-to-heat technology alongside thermal energy storage, utilizing renewable energy sources to deliver 24/7 industrial heat up to 400°C. It operates under atmospheric pressure as well as uses molten salt circulation and renewable energy sources. It replaces fossil fuels in various industries, offering a cost-effective and efficient solution for decarbonization. Industries from chemical processing to food and beverage leverage this sustainable technology for a reliable supply of heat.
6. BMTA&C
- Founding Year: 2019
- Employee Range: 2-10
- Location: Morocco
- Signal Strength: Very Strong
- What they do: BMTA&C provides off-grid refrigeration, ST-COLD, to enhance perishable goods preservation in remote locations. ST-COLD utilizes thermal energy to provide clean cold storage solutions and operates without water or electricity. It increases energy efficiency, enhances cost-effectiveness, minimizes maintenance needs, and enables sustainable manufacturing. Scalable across diverse climates and regions, ST-COLD adapts to varying weather conditions. The technology primarily benefits communities and industries in off-grid areas to preserve food and medicines.
7. Aed Energy
- Founding Year: 2022
- Employee Range: 2-10
- Location: UK
- Signal Strength: Strong
- What they do: Aed Energy converts thermal energy into electricity using a solid-state power cycle based on the photovoltaic (PV) effect. This enables efficient heat-to-power applications while utilizing low-cost materials. Additionally, the solution delivers both power and heat energy, catering to various industrial and heating needs. Moreover, the technology supports long-duration energy storage capabilities with minimal losses and fast-response power delivery.
8. Ubiquetherm
- Founding Year: 2019
- Employee Range: 2-10
- Location: New Zealand
- Signal Strength: Medium Strong
- What they do: Ubiquetherm provides clean, zero-carbon heating and cooling solutions using ambient thermal energy, commonly known as black-body radiation. By employing advanced nanomaterials, Ubiquetherm concentrates and directs this energy, transforming it into an energy source for various applications. This nanomaterial technology offers an advantage with the use of the consistent heat emitted even from cold objects like ice. The system assists remote industrial locations and residential homes ensuring reliable and cost-efficient temperature control.
9. Upthermo
- Founding Year: 2019
- Employee Range: 11-50
- Location: Poland
- Signal Strength: Strong
- What they do: Upthermo utilizes low-grade heat to generate electricity through organic Rankine cycle (ORC) technology. This process involves heating an organic working fluid at lower temperatures than water and driving a turbine connected to an electric generator for energy conversion. ORC systems offer a sustainable solution with substantial CO2 reductions, contributing to a cleaner future. Upthermo’s ORC technology adapts to low and high-temperature sources, ensuring optimal energy recovery regardless of thermal conditions. This solution finds applications in biogas and biomass plants as well as the steel, metal, pulp and paper, cement, and ceramics industries.
10. Energy Security
- Founding Year: 2020
- Employee Range: 2-10
- Location: USA
- Signal Strength: Medium Strong
- What they do: Energy Security develops Interactive Energy Grid, a microgrid that combines thermal and electrical energy solutions for homes and businesses. It features an integrated main service panel and switchgear, hot-swappable inverters for uninterrupted power, and nano-grid technology for critical infrastructure protection. Additionally, the company offers a companion app to monitor and control the energy profile. The system’s design allows remote serviceability, flexible battery sizing, and easy expandability.
Quick Tip to Find New Thermal Energy Solutions
Utilizing a SaaS platform like the Discovery Platform for identifying new thermal energy 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 thermal energy innovations.
- Access to Real-time Insights: Gain a competitive edge with up-to-date information on the latest trends in the thermal energy industry. The platform keeps you informed with near real-time updates on emerging thermal energy solutions and news, enabling you to make swift and informed decisions.
- Tailored Exploration: Customize your search to focus on specific niches within the thermal energy sector, such as waste heat recovery, carbon-free power generation, or magnetocaloric effect. 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 Thermal Energy Solutions?
We’ve explored the dynamic landscape of the thermal energy 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.
