During the next three to four months, we’ll have
10 CraftEngines up and running in the field. The CraftEngine gives people
around the world the opportunity to power their communities and businesses with
100 percent renewable energy by turning waste heat into electricity. The 10 units
will be deployed in faraway places such as Barbados, Columbia, South Africa and
Japan as well as in the UK, Germany, Italy and Norway, which illustrates the
widespread interest in our technology.
Meanwhile, we’re starting the production of 1,000 expanders
– the heart of the engine – with a view to producing 250 more units, each
capable of delivering 40kW of electricity. Such an uninterrupted power supply
can make a huge difference to poor communities around the world, and give businesses
– which are currently dependent on an unreliable national power grid – the
opportunity to expand their operations. At the same time, we know there is a
huge market for larger engines that can produce even more power from the heat
that currently goes to waste, and that’s why we intend to start developing our
300kW CraftEngine during this quarter. This high-power CraftEngine will produce
electricity for as little as € 0.02-0.03 per kWh, which will no doubt be popular
with many industries throughout the world.
Based on the demand that we have recognised – especially
in countries where the electricity is expensive or altogether absent – we are
confident that we’ll achieve our turnover target of € 35 million in 2017.
During our journey, we have discovered that our
CraftEngine hardware works equally well as a heat pump. With very limited development
efforts, we’ve been able to transform our CraftEngine into a high-temperature heat
pump, which we have called the HeatBooster. The HeatBooster is the first heat
pump in the world that is capable of raising temperatures to 150C – which a
variety of industries have a demand for. Once commercialized, the HeatBooster
will be able to replace the expensive and energy-intensive gas and oil boilers in
use today in a wide range of industrial processes in dairies, breweries, and
pulp and paper mills, just to name a few.
The CraftEngine and HeatBooster are just two of
the successful products developed by our research and development team in
Norway – products that bear testament to their expertise and spirit of innovation.
After five years of spending close to € 30 million on research and development,
we are finally ready to embark on the commercial sales process. Not only do we
have some of the best products to offer the market – in terms of both quality
and price – our products also contribute to a more sustainable world.
Our success wouldn’t have been possible without
the help of our partners. Innovation Norway has supported us with funding along
the way, and AVL, the world’s largest privately owned engine design company,
has been crucial in securing the quality of our products. We are also
collaborating with Chemours (a former DuPont company) in order to make our
products ready for the future by using their environmentally friendly fluids in
With the help of our partners, we have created a company
that has the potential of becoming the leader within its field, commercially as
well as technologically. This became apparent from the HeatBooster tests carried
out just before Easter this year.
However, to get there we need help from people who
have the will and vision to create a better and more sustainable tomorrow.
What has always inspired me during my 50 years in
the oil and gas industry, and now in the renewable energy sector, is the opportunity
to make a change. Thanks to the CraftEngine and HeatBooster, I’ve been given a once-in-a-lifetime
opportunity to do something that will benefit generations to come.
But I cannot walk the road less travelled on my
own… and if there was ever a time in the history of humankind when working
together as a collective was of outmost importance, that time is now. We have
the products, the expertise and the will, but we want to grow stronger and we
are keen to make that happen soon.
Whether you represent financial muscle, distribution power or a specific
kind of competence, we warmly welcome you to join our team – and our quest to
make the world a better place.