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Shipping represents one of the worst polluting industries in the world. If we consider a typical ship consuming 10,000 tonnes of fuel in one year, less than 5,000 tonnes is transformed into ”usable” energy. By our estimates, roughly $40bn / year is therefore lost in heat energy through the exhaust. At the same time, shipowners are under pressure to improve energy efficiency of equipment and engines to comply with IMO’s Energy Efficiency Design Index standards for vessels, as well as International Maritime Organization (IMO) regulations to reduce sulphur emissions to 0.5% for global marine fuels. There is, in other words, a perfect storm of pressures driving increased efficiency in shipping.


Traditionally to generate electricity from heat it is necessary to first convert it into mechanical energy and drive a turbine. The state of the art process is the Organic Rankine Cycle (ORC),  in which an organic working fluid is used instead of steam. Not only are the working fluids used in these systems being regulated out of the market, but right now they take up far too much space to be used on ships. Eltiera has designed a way of extracting energy from this waste heat in a system that has no moving parts, takes up a fraction of the space, and which therefore offers a means to achieve the efficiency savings that the maritime industry so desperately needs. Beyond shipping, Eltiera’s novel product design represents the possibility to create the largest thermoelectrics platform in the world, representing one of the only opportunities with the scale to make new thermoelectrics commercially viable.