Wednesday, July 20, 2011

News: Firechill secures further funding


FireChill, the green cooling and heating company, has secured a further round of development funding with the help of its UK manufacturing partner, Newburgh Engineering.

The money will support the continued expansion of its base technology and provide a bridge to future commercialisation.

FireChill's proven, patented, heat-activated cooling technology technology reduces operating costs by up to 20% in traditional air conditioning applications and by up to 80% when integrated into a combined heat and power (CHP) system.

The unit's low cost, low carbon technology provides a competitive advantage, particularly in areas which are hot, crowded, have plenty of gas and/or where the electricity supply is unreliable or expensive.

With the units to be manufacturing at Newburgh Engineering in Templeborough, the investment is set to create 100 new jobs directly and many more in the supply chain.

FireChill Manufacturing is a joint venture with Rotherham-based specialist engineering firm Newburgh and is responsible for the production of units.

Simon Clothier, CEO of FireChill, said: "This money is a welcome boost for FireChill and gives the team the opportunity to take its ground-breaking cooling and heating technology to the next stage. We will use the money to build further test units and place them across the globe in challenging operating environments. This process has already commenced and early indications from Test Partner ecOenergy of the Dominican Republic are extremely promising.

"In house testing of the products under development point to a step change in performance and it is exciting that we are now able to develop them further. Having secured this interim step, our next mission is to secure a significant level of funding to expand the integrated family of FireChill products and bring them to market via a global manufacturing and distributor network.

"We have received a promising initial response and, based on conversations thus far, there is serious interest amongst a number of international organisations. The key to unlocking the opportunity is a vision for the future, a properly funded Technology Roadmap, fully-tested product and a receptive market."

Vince Middleton, managing director of Newburgh Engineering added: "We are strong advocates of the FireChill technology and believe it has a bright future which is why we have chosen to continue to invest our time, money and resource.

"We are very happy with the development progress of the product, have a well-defined programme of work and are looking forward to shipping further test units into the field. We are confident Simon and the team will be able to secure the next funding round and very much look forward to what that means for FireChill."

FireChill website
Newburgh Engineering



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