TENNESSEE, USA (October 15, 2024): NGIF Accelerator is proud to announce a grant funding contribution of $348,728 to advance a novel hybrid gas-electric heat pump for residential heating, cooling, and domestic hot water (DHW) systems. This technology, developed by Stone Mountain Technologies Inc. (SMTI), aims to redefine energy efficiency in home climate control while reducing greenhouse gas (GHG) emissions. This is the third time SMTI has successfully secured grant funding from NGIF for their heat pump technology.
Tennessee-based SMTI develops and manufactures high-efficiency heat pump cycles designed to create low-cost, globally accessible products within the HVAC industry. Their initial focus on the gas absorption cycle has optimized design and manufacturing processes to ensure superior cold-climate heating performance, delivering the lowest operating costs and a model GHG emissions profile.
The latest project, which represents Phase 2 of the previous NGIF-funded project, seeks to build upon SMTI’s earlier success by integrating the efficiency of the gas-fired absorption cycle with vapour compression technology. This will result in a single-box solution tailored for residential heating and cooling needs. The proposed system will provide end-users with energy efficiencies for heating, cooling, and DWH production.
Image: SMTI’s Anesi gas heat pumps
“This is NGIF’s third industry grant to SMTI, representing a vital step towards modernizing residential energy systems, ensuring they are not only cost-effective but also environmentally viable. Over the years, we have seen SMTI build organizational capacity, which in turn fuels the development of their technology,” said John Adams, President and CEO of NGIF Accelerator. “Our Industry Grants program and its focus on de-risking clean technologies through field trials and pilots are part of NGIF’s integrated model of industry validation, customer creation, and technology commercialization.”
“SMTI is very excited to embark on the field-testing phase of our hybrid gas-electric heat pump products, with the generous support of NGIF and its partners,” said Michael Garrabrant, SMTI’s Founder and CEO. “With our initial cold climate heat pump model in production and commercially available, the hybrid model will allow us to provide all of the home’s heating and cooling services. Our gas-fired heat pumps provide incredible comfort even at the coldest outside temperatures while significantly reducing GHG emissions without adding additional strain on the electric grid.”
“Canadians want and need the affordable, reliable, clean energy service offering they have come to expect from the natural gas industry. When we created NGIF, it was our vision to bring the entire natural gas value chain together to support cleantech development that enhances environmental and economic performance for the sector. I am glad to see our vision in action as NGIF continues to support technologies like SMTI’s hybrid gas-electric heat pump,” said Timothy M. Egan, President and CEO, Canadian Gas Association and Chair, NGIF Capital Corporation.
Industry Grants’ Participants and Project Partners
About Industry Grants program
The Industry Grants program is industry-led and offers non-dilutive grants to fund early-stage startups for technology development and field demonstration. The program specifically de-risks pre-commercial technology solutions that have the potential to increase the environmental performance of the natural gas sector. Each project in the program will accelerate technology readiness level progressions through controlled pilot testing and field trials to advance commercialization.
About NGIF Accelerator
NGIF Accelerator is the not-for-profit arm of NGIF Capital and operates all technology and innovation programs. The NGIF Accelerator mandate is to de-risk and accelerate technology development by supporting startups through their pilot projects, field trials, and industry validation. It will coordinate with federal and provincial governments to co-fund projects to advance market commercialization. NGIF Accelerator currently operates the Industry Grants program and administers the NGIF Emissions Testing Centre program.
About Stone Mountain Technologies, Inc.
Stone Mountain Technologies, Inc. is a designer and manufacturer of the Anesi innovative heat pump technology for residential and commercial applications. By focusing on high efficiency, reliable performance, and reduced emissions, Anesi products, fueled by natural gas, propane gas, renewable natural gas, and hydrogen blends, are solutions to provide better comfort and a better planet. Stone Mountain Technologies, Inc. has operations in Piney Flats, TN, and distributors across North America.
About Canadian Gas Association
The Canadian Gas Association (CGA) is the voice of Canada’s gas energy delivery industry, including natural gas, renewable natural gas (RNG), and hydrogen. Its members are distribution and transmission companies, equipment manufacturers, suppliers and other service providers. Today, natural gas meets almost 40 per cent of the country’s energy needs.
Fund Information:
John Adams
President and CEO, NGIF Accelerator
President and CEO, NGIF Capital Corporation
Media Information:
Ayoola Ajibare
Communications Coordinator, NGIF Capital Corporation
(403)-389-2212
aajibare@ngif.ca