Please see below for Part 2 of our 2023 highlights series.
Organic Heat Exchangers Ltd is the inventor of the EnergiVault, which is a COLD Battery. With energy storage, it’s proven that it is much more efficient and effective to hold the energy or lack of it (in the case of cooling), in the medium of use. If you need cold, hold the energy as cold, heat; hold it as heat, etc etc. This is the principal of EnergiVault – the cold battery.
Cooling probably represents circa 20% of energy usage worldwide. In some locations up to 80% of a country’s electricity may be used for cooling, so this is a huge market, and it is our opinion that Organic Heat Exchangers’ 1.5 MWh EnergiVault priced at circa £300,000 solves Cold Energy Storage. Think of it this way: your company needs vast amounts of cooling, particularly in the day. In simple terms, if electricity is £0.32 per KWh in the day and £0.08 in the night, as an example, if you run EnergiVault in the night, charging it up with cold – for 1.5 MWh of cold @ £0.08 this costs £120, as opposed to £480 in the day, saving yourself £126,720 a year. Nighttime electricity is generally a lot less carbon intensive and if you have your own renewables, you can achieve carbon neutral with your cooling. There are other ways that EnergiVault can save money and carbon and it’s a fantastic piece of practical engineering.
Of course, electricity prices may be even more volatile, and it might be windy nights that provide the lowest cost power and thus the charging solution.
However, after three years of working with O-Hx, they have unfortunately decided to cancel our agreement and feel they have reached a point where they believe they can continue fundraising on their own. We will still retain a stake in O-Hx and thus a very significant interest in the company’s success. It is a real shame as we were contracted to assist in business development, significant support with funding and marketing of the EnergiVault and these skills that cannot be mastered overnight. 350 PPM has invested significantly in all three processes, but O-Hx are now looking to reduce costs and feel that they can handle these functions themselves. We wish them every success.
The last video we completed on O-Hx can be viewed below:
That’s all for now. Our next update follows tomorrow.
Kind Regards
Nicholas Dimmock (BA MBA CASS)
Managing Director
350 PPM Ltd
| ABOUT 350 PPM LTD 350 PPM LTD is an incubator and accelerator for early-stage companies operating in the clean energy and environmental protection sectors. Working from within our clients companies we deliver a wide range of services to support and drive their business growth. Our team of 7 becomes part of their team, aligning our objectives to ensure can provide maximum guidance and expertise to achieve their business goals. Our services Securing funding from a wide range of investors at key stages; this will include angel investors, family offices, venture capital funds, and institutional investors. Providing input on developing business plans. Preparing Information Memoranda and other marketing material to support the fund raising. Sales, marketing, and PR campaigns to increase exposure of our clients with key audiences and other stakeholders. Accountancy and financial management. Ulilising our established networks to recommend suitable professional service providers such as accountants and lawyers. Acting as interim directors on client boards. Setting up boards of directors to give direction and provide corporate governance. Supporting clients with commercial contracts and negotiations with potential partners and suppliers. Administration of Fundraises including; Subscription Bundles, Trade Ledgers, Shareholder Registers, Client KYC and Transaction Settlement and fullfillment. |