We have identified numerous unfulfilled market needs for energy conversion, where the limitations of the current technology have prevented commercially viable solutions. The advent of our technology changes that situation with the greatly superior performance and cost of MicroPower’s devices replacing lower performance technologies in the existing thermoelectric market.
In essence, MicroPower’s will be a disruptive technology that greatly expands the market by delivering efficiencies and cost-effectiveness that haven’t been possible previously, and creating entirely new market applications, from portable power solutions for troops in the field and others without access to grid power, to improving the efficiency of industrial plants and vehicles.
We believe that it’s a particularly opportune time to be introducing our technology given widespread concern about global warming caused by increasing amounts of carbon and other toxic emissions and the earth’s decreasing capacity to absorb them. At the same time, many countries are feeling increasingly vulnerable due to their dependence upon imported fossil fuels.
Whether or not such sentiments are justified, the fact remains that the search for cleaner, more dependable, more efficient forms of energy is gaining momentum. This was acknowledged at the 21st Conference of the Parties in Paris, where all 195 countries agreed upon the 2°C ceiling and gave commitments to support the acceleration towards renewable energy.
While renewable forms of energy production will hopefully provide a long-term solution, they remain decades away from becoming our main source of energy, meaning that our reliance on fossil fuels looks set to continue for the foreseeable future. Wouldn’t it be nice if we could find a way to stretch those limited resources a little longer by making their use more efficient?
Indeed, numerous states in the US officially recognize waste heat recovery as a renewable source of energy, enabling companies to earn “renewable energy credits” that they can then sell. There are various similar incentives around the world to encourage industry to become cleaner and more energy efficient, all of which help create a more receptive environment for our technology.
Thermal energy presents itself in multiple forms with convection, conduction, radiation or a combination of these three presenting multifarious opportunities for heat-to-electric conversion. As a result, thermoelectric power is becoming recognized as a versatile energy technology, not only for the benefit of traditional fossil fuel users and the huge waste heat recovery markets.
Indeed, MicroPower’s technology is also able to thrive upon new heat sources and processes designed for the future, such as solar-thermal energy, pyrolysis, fuel cell technologies, nuclear power and LENR technologies. This sentiment is growing, from private businesses and commercial markets, through to leading governmental renewable energy departments.
Click on the categories below to find out more about the potential applications within each market: