CALGARY, AB (March 14, 2024): NGIF Accelerator, through its Industry Grants program, has allocated $370,000 in grant funding to develop Luminescent’s 200kW heat engine technology for waste heat recovery.
A significant portion of the world’s energy is lost as waste heat. For decades, the energy industry has struggled to capture this heat through various technologies, but these tend to be costly and inefficient. Luminescent’s isothermal technology, powered by liquid instead of gas, offers a cost-effective and efficient technology, making it possible to turn waste heat into zero-emission electricity in a broad range of applications.
Luminescent’s 200kW heat engine will be ready for pilot testing by the end of Q2 2024, with full-scale sales set to begin in 2025. This technology is expected to have a substantial influence on the Canadian natural gas industry, with the potential to increase gas turbine efficiency by 50–70% while decreasing carbon intensity.
Image: The Luminescent Heat Engine
“By offering a high-efficiency, low-cost solution for waste heat recovery, Luminescent will help the natural gas industry reduce its emissions and achieve energy savings,” said John Adams, President and CEO of NGIF Accelerator and Managing Partner of NGIF Cleantech Ventures. “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.”
“We at Luminescent are thrilled to collaborate with leading members of the Canadian natural gas market. Our partnership leverages the natural gas industry’s established strengths with Luminescent’s groundbreaking technology, creating a powerful force in forging the path to net zero,” said Doron Tamir, Luminescent Heat Engine CEO.
“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 Luminescent’s heat engine,” 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 will operate 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 the Emissions Testing Centre program.
About Luminescent Power
Luminescent develops the world’s first and only isothermal engine, turning heat into zero-emission electricity. It was founded in 2020 by Doron Tamir, a renewable energy entrepreneur, and Prof. Carmel Rothchild, Associate Professor of Mechanical Engineering at the Technion-Israeli Institute of Technology. Luminescent is backed by leading investors, including Nafta, Extantia, Grove Ventures, Techint, and Ormat. For more information, visit luminescentpower.com.
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 and suppliers and other service providers. Today, natural gas meets 38 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
