£3m funding sought for new compressor design
UK: Vert Technologies, the Edinburgh-based company behind a revolutionary conical rotary compressor (CRC), is embarking on an equity funding process to raise £3m.
The Vert technology can be used across multiple sectors with refrigeration, heat pumps, expanders and hand-held tools being viewed as key target sectors. Earlier this year the company received £720,000 of funding, targeting the refrigeration industry as a potential market for its new design of rotary compressor.
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.
“The refrigeration sector has been quick to realise the potential of CRC technology to deliver the air pressures required for use with new refrigerant gases that have a lower global warming potential, which in turn can help OEMs deliver on the tightening environmental legislation,” said Vert CEO, Phil Harris. “This funding round will accelerate CRC’s penetration of the sector and ensure that we have the production capacity to deliver for our OEM partners.”
The investment will be used to build on the momentum of CRC with OEM refrigeration companies requiring innovative air compressor solutions to help them meet tightening environmental regulations. Vert is already working with several OEMs in the sector and the expectation is that at least one will reach volume sales or licensing stage by the end of 2021.
The technology can be used across multiple sectors with refrigeration, heat pumps, expanders and hand-held tools being viewed as key target sectors. Using in-house software, the complex geometry of the CRC technology is scalable without any compromise on performance. Rotors as small as 80W and 40mm long can be designed making the technology suitable for even the smallest application.
£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…