£1.9m boost for new design compressor
UK: Edinburgh-based Vert Technologies has received a £1.9m investment to expand the presence of its conical rotary compressor (CRC) technology in the refrigeration and heat pump sectors.
Vert recently completed a £775,000 investment funding round, through existing investors Par Equity, Equity Gap, Aeroden and Scottish Enterprise. This will be used primarily to accelerate volume production for the refrigeration, heat pump and liquid pump sectors.
The company has also received £650,000 grant funding from Scottish Enterprise to develop a compressor for the refrigeration market. Alongside this, Vert has been awarded £490,000 from the UK government’s Department of Business, Energy, and Industrial Strategy’s (BEIS) Energy Entrepreneurs Fund. This 15-month BEIS project will help the company further refine its CRC technology for use in domestic heat pump systems.
In comparison to traditional technology that uses rotating screws placed side by side, the Vert technology places one rotor inside the other. The rotors turn in the same direction at different speeds compressing the gas as it travels down the conical screw to deliver a low noise, low vibration compressed air solution that is still capable of producing exceptionally high pressures.
Crucially, for heat pumps and refrigeration solutions, these pressure ratios are ideal for use with low-GWP refrigerants, including HFOs and “natural” refrigerants.
“The Vert conical rotary compressor will play a key role in the world’s climate ambitions and we welcome the support for both the technology and the drive of the team, to accelerate a swift transition in the use of low-global warming potential refrigerants in world-wide domestic heat pumps and refrigeration systems,” commented Vert Technologies CEO Dr Phil Harris.
“Scottish Enterprise has supported Vert over a number of years and this recent investment will aid the company’s growth while providing solutions around heat pumps and refrigeration that support legislation and highlight how the supply chain in these sectors can drive decarbonisation,” said Andy McDonald, head of low carbon transition at Scottish Enterprise.
“Vert has demonstrated that the CRC technology can operate continuously at high pressure ratios, in a compact, lightweight form, with a very low noise and vibration signature, together with good durability,” Harris added. “These are key concerns for multiple sectors, and thanks to this investment, we can accelerate the evolution of this unique technology for mass markets. We are already working with some large multi-nationals in the refrigeration and gas compression sectors to develop practical solutions for today’s environmental challenges and we have a clear line of sight to mass volume manufacturing approaches.”
Related stories:
£3m funding sought for new compressor design – 8 November 2020
UK: Vert Technologies, the Edinburgh-based company behind a revolutionary conical rotary compressor (CRC), is embarking on an equity funding process to raise £3m. Read more…
£720k funding for new rotary compressor – 26 April 2020
UK: Buoyed by a further £720,000 of funding, an Edinburgh company has targeted the refrigeration industry as a potential market for its new design of rotary compressor. Read more…
