The Glasgow manufacturers responsible for the invention of the world’s largest zero carbon 90°C district heat pump has been selected for the award, with the chance of winning £20,000 to go towards the next project.
Cleantech Innovate Scotland has lined up a collection of the best commercial green technology innovations produced in Scotland. Twenty five finalists will compete for the coveted prize on a showcase that will be held in Glasgow on 4 June 2015 in partnership with Zero Waste Scotland.
Star Renewable Energy will present live the Neatpump technology, an industrial heat pump that uses rivers, lakes, reservoirs and the sea to generate heating and cooling while balancing the grid, to a group of investors, buyers and industry specialists at Glasgow's technology innovation centre.
Fergus Ewing MSP, Minister for Energy, Business & Tourism who will be a keynote speaker on 4 June, referred to the event as "a great opportunity for companies in Scotland to showcase their pioneering solutions being developed in the cleantech sector, and to collaborate and network with investors."
He continued: "The transition to a low carbon economy presents enormous economic opportunities for companies to develop and implement new technologies. The Scottish Government is committed to supporting businesses across Scotland to realise these opportunities."
The green credentials of the Neatpump have been highlighted to good effect with the groundbreaking deployment of the industrial district heating system in Drammen, a Norwegian city of 65,000 people that draws on the pioneering technology built on the Clyde to heat the whole city, including its businesses, hospitals and schools with water from the local fjord.
David Pearson, Director of Star Renewable Energy, who will be presenting the technology at the event, said: "In Drammen, the Neatpump provides annual savings of around €2m and overall annual carbon savings equal to driving 2,080 times around the globe. In Scotland, heat pumps have the potential to save Scottish businesses £250 million a year – enough to employ almost 10,000 people at the country’s average salary."
Neatpumps can reach an efficiency of 7, which means that for one unit of electricity, 4 units of heat and 3 units of cooling are generated. Furthermore, Neatpumps reduce carbon dioxide emissions by 68% compared to gas boilers, or even 87% by the year 2035, when the national grid becomes less carbon intensive.
In 2007, the International Energy Agency (IEA) said ammonia heat pumps were "promising but impossible above 70⁰C." Four years later, the 13 MW Neatpump using zero carbon ammonia and heating up to 90⁰C was commissioned in Norway.
The installation become a leading example in sustainable energy, and won great acclaim from the industry, receiving the International Energy Agency's prestigious Rittinger Medal in Toronto last year.
Pearson believes their innovation has a strong chance of winning: "We have proven the Neatpump is financially viable and provides carbon reductions without local emissions from combustion." Yet consumer acceptability is still a market barrier in the UK.
In order to fund the capital required for the solution, Star Renewable Energy aims to establish an Energy Supply Company (ESCO), and it is in this that the company seeks partners and investors.
The business model is based on heat sale to the consumer, removing the initial capital investment burden and offering savings from day one. A typical £1m project would yield £250k/a for 20 years, making this business opportunity a solid investment.