O-Hx has invented a new kind of binary ice using an organic heat exchanger. This has then been incorporated into its proprietary 1 MWh Cold Thermal Energy Storage (CTES) battery and charger, the EnergiVault.
According to The Economist, energy storage is set to be cleantech’s next trillion-dollar business. In terms of capex, EnergiVault is five times cheaper than the equivalent chiller and lithium-ion battery, and that is before operational savings. As cooling accounts for around 20% of global energy consumption, EnergiVault’s market size is c. US$200 billon, and there is currently nothing else out there with the capabilities of EnergiVault.
O-Hx is now coming through the Valley of Death – yes, it is a thing. Their founders have invested an additional £800,000 in the business during the last year – and they are now poised for explosive global growth.
At O-Hx, they compared the cost and performance of 1MW of absolute cooling for one hour using: i) Traditional 1MW water chiller + battery storage; and ii) EnergiVault Thermal Energy Storage (TES). Their analysis shows that EnergiVault offers a far more cost-effective and efficient solution, saving up to £940,000 compared to a traditional battery-backed chiller system.
