CALGARY (JUNE 30, 2023): NGIF Capital and its IG program are excited to announce funding for an innovative hybrid Gas Absorption Heat Pump (GAHP) technology catering to the North American market by Toronto-based startup HOMY Building Solutions Inc.
Their hybrid technology combines GAHP and Air Source Heat Pump (ASHP), maximizing the potential of both technologies. Its smart control system monitors and controls energy consumption effectively, offering the potential to reduce energy consumption, and greenhouse gas emissions.
The GAHP is an outdoor unit that provides hot water and space heating for domestic use by extracting thermal energy from its environment. It operates based on the absorption heating cycle, mainly using ammonia as a refrigerant with zero ozone depletion potential. It reduces greenhouse gas (GHG) emissions by consuming less natural gas compared to existing boilers. Currently, one of the constraints of using gas absorption heat pumps is insufficient cooling efficiency. The integration of an ASHP enhances the cooling efficiency of the GAHP system. Additionally, any waste heat produced by the condenser is utilized to generate hot water for domestic purposes. Together this provides an efficient solution to Heating, Ventilation, and Air Conditioning (HVAC) systems.
Image: Functional design plan of hybrid GAHP built by HOMY Building Solutions Inc.
The hybrid GAHP also has an IoT device that includes different sensors and meters, such as those for temperature, current, gas, and energy, to monitor the system’s performance and efficiency. HOMY collects the data and uses machine learning techniques to develop technology to increase the efficiency of the hybrid control.
“By leveraging the latest advancements in Artificial intelligence and Internet of Things (IoT), HOMY allows an existing HVAC system to work more efficiently and reduce emissions. It could be the solution to reduce environmental effects in North America.” said John Adams, President and CEO of NGIF Capital Corporation and Managing Partner of NGIF Cleantech Ventures. “NGIF Industry Grants 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 market commercialization.”
“I am proud to lead a team dedicated to excellence, innovation, and customer satisfaction. Our mission is to revolutionize the HVAC industry through innovation, sustainability, and exceptional customer service. We are committed to delivering cutting-edge solutions that enhance energy efficiency, indoor comfort, and environmental sustainability,” said Houman Ameri, CTO of HOMY Building Solutions Inc.
“We are dedicated to transforming the way people experience comfort and efficiency in their living and working spaces while reducing energy consumption and minimizing our environmental footprint. Together, we can create a more sustainable world, one HVAC innovation at a time. With our relentless drive for success and the support of our talented team, we are confident in our ability to reach our goals,” Ameri added.
The future component entails adapting the hybrid GAHP system in accordance with the design and established requirements through lab and field testing. The procedure will be completed by introducing the commercial model, setting up the production line for mass production, and accrediting the technology.
“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 HOMY Building Solutions’ proprietary hybrid GAHP offers a superior solution to address energy consumption and a significant step towards a sustainable future,” said Timothy M. Egan, President and CEO, Canadian Gas Association and Chair, NGIF Capital Corporation.
Industry Grants Participants and Project Partners
About NGIF Industry Grants
NGIF Industry Grants is a first-of-kind, industry-led grant organization to fund early-stage startups developing solutions to environmental and other challenges facing Canada’s natural gas sector. NGIF Industry Grants develops, demonstrates, and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen. The organization has built a portfolio of startups, trusted partnerships with the government for co-funding opportunities, and a robust technical evaluation investment model. NGIF Industry Grants is operated by NGIF Capital Corporation.
About NGIF Capital Corporation
NGIF Capital Corporation is a Canadian venture capital (VC) firm offering grant and equity financing for startups that deliver solutions to the environmental and other challenges facing the natural gas sector. NGIF Capital Corporation is unique in how it brings Canada’s energy industry leadership to every investment. Like other VCs, it takes new companies and their ideas from concept to commercialization. Unlike other VCs, NGIF Capital Corporation has strong connections to every part of the gas value chain, from production through to end-use, offering it a means to test, develop, and accelerate the commercial implementation of innovative gas technology wherever it fits in the sector. The model benefits consumers, investors, and Canadian society as a whole. NGIF Capital Corporation operates NGIF Industry Grants (the original Natural Gas Innovation Fund), the NGIF Emissions Testing Centre, and NGIF Cleantech Ventures. NGIF Capital Corporation is wholly owned by CGA Enterprises, a venture of the Canadian Gas Association.
About HOMY Building Solutions:
HOMY Building Solutions Inc. is an engineering firm based in Ontario focusing on developing innovative technologies in the heating and cooling industry to reduce energy consumption with less environmental impact. They specialize in Gas and Electric heat pump systems with a division in IoT and Control. Homy Building Solutions are committed to excellence and customer satisfaction, striving to deliver innovative and highly efficient HVAC systems.
About Canadian Gas Association
The Canadian Gas Association (CGA) is the voice of Canada’s gaseous energy delivery industry, including natural gas, renewable natural gas (RNG), and hydrogen. CGA membership includes energy distribution and transmission companies, equipment manufacturers, and suppliers of goods and services to the industry. CGA’s utility members are Canadian-owned and active in eight provinces and one territory. CGA members meet 38 percent of Canada’s energy needs through a network of over 577,000 kilometers of underground infrastructure. The versatility and resiliency of this infrastructure allow it to deliver an ever-changing gas supply mix to over 7.4 million customer locations representing approximately two-thirds of Canadians. CGA members ensure Canadians get the affordable, reliable, clean gaseous energy they want and need. CGA is also working to constantly improve that gaseous energy offering, by driving forward innovation through the NGIF Capital (NGIF).
Fund Information:
John Adams
President and CEO, NGIF Capital Corporation
Managing Partner, NGIF Cleantech Ventures
613-748-0057
Jadams@ngif.ca
Media Information:
Dini Philip
Communications Coordinator, NGIF Capital Corporation
(403)-389-2090
Dphilip@ngif.ca
