STOCKHOLM, Sweden--(BUSINESS WIRE)--Climeon is rated as one of the top 33 innovative technology companies in Sweden in the annual listing by prestigious business and technology publications, Affärsvärlden and Ny Teknik. The Climeon Ocean™ system, a patented innovation, enables electricity to be extracted from hot water. The technology provides competitive, cost-effective electricity production via waste heat recovery. One Climeon Ocean module can generate 150 KW – enough to heat more than 100 average homes.*
“About half the world's energy ends up as waste heat,” says Thomas Öström, CEO of Climeon. “We believe that by using this technology, electricity can be extracted from large volumes of such heat. Today, renewable energy is about 20% of the total global energy supply. The renewable energy market is estimated to be worth hundreds of billion dollars.”
The Climeon Ocean technology is scalable and can be implemented in business areas and industries such as heat from engines, heavy industries, and solar, water or geothermal heat. The innovation can replace many TWh of fossil-based electricity.
Climeon Ocean uses an optimized and patented process for converting hot water (between 70 and 120 oC) to electricity in a vacuum process.
Climeon Ocean is an investment with a relatively short payback period. The system enables companies to save operating cost and to reduce their environmental impact.
Viking Line operates a fleet of cruise ferries in the Baltic Sea. Viking Grace, Viking Line's newest ship, is the first ship in the world to use the Climeon Ocean system. Interest in marine applications is large. A system module of 150 kW will generate more than 1 million kWh of electricity annually – by extracting waste heat from the ship’s engines. Just one module saves up to 200 tons of fuel per year. Consequently, it reduces carbon dioxide emissions by up to 400 tons per year.
About the 33 list For the eighth consecutive year, Affärsvärlden and Ny Teknik recognize 33 of Sweden’s most promising technology companies. List inclusion criteria are: (i) companies must be at most seven years old; (ii) they must be based on a technological innovation with international potential, and (iii) they must demonstrate that they want to change their industries’ playing rules (e.g., to create entirely new markets).
* As per Swedish Energy Agency, the average house in Sweden annually consumes 12,200 kWh for heating.
Climeon’s vision is to make the world a better place via brilliant innovations. Its mission is to challenge established truths – to make customers more successful. Thanks to its unrivalled Climeon Ocean system, Climeon delivers return on investment via a solution that cost-effectively converts waste heat to electricity.
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