EnergyNetiQ has developed an Energy Cell producing 3 times more heat output than electricity input
Business overview
| Location | Wantage, United Kingdom |
|---|---|
| Social media | |
| Website | www.energynetiq.com |
| Sectors | Energy Non-Digital B2B |
| Company number | 12514062 |
| Incorporation date | 12 Mar 2020 |
Investment summary
Business highlights
- Our Energy Cell uses and produces no carbon
- It produces three times as much heat output as electricity input*
- Our team is highly experienced in engineering and energy
- We could help decarbonise most commercial energy markets
Key features
Idea
Introduction
EnergyNetiQ’s zero-carbon Energy Cell, developed over the last 3 years, has been shown to be able to release more energy (as heat) than was added to the water (as electricity).
The cell, which uses only tap water and an electric charge, has shown internally an in/out ratio of over 3 times energy output from 1 energy input*. We believe that by eliminating inefficiencies, it should be possible to increase ratio to over 5x in the next 6–12 months.
EnergyNetiQ has an initial patent pending and plans to file more. The technology has also been independently verified by a university professor with well-established expertise in the field – who measured a ratio of up to 1.8x in December 2020, after seeing the unit’s insulation removed.*
The prototype has a small footprint which can deliver high-temperature and high-pressure steam output. This could lead to applications across almost all energy sectors – including transport, housing, commercial heat, cooling and electricity generation.
*based on internal tests performed by EnergyNetiQ
Substantial accomplishments to date
2020: Independent witnessing by University of Brighton of ratio at unprecedented 1.8x.
2021: Test centre established in Sussex for continued improvements.
2021: Patent filed in September 2022.
2021/22: Continual improvements to system showing achievement of out/in ratio to over 3 times.
2022: Secured R&D Tax Credits, EIS Approvals and an Innovate UK grant competition award.
2022: Design work commenced on applications, exploiting the fact that the system is unusually small scale for the quality of the heat produced, making it suitable for all “sizes” of energy production – ranging from domestic boilers and transportation, all the way up to power stations on a modular basis.
Monetisation strategy
The system aims to produce heat and cold at high pressures for systems operating in major markets, initially in the UK. We have started the process of introducing the system to mainstream manufacturers and energy suppliers. There is a need for solutions to help the UK (and other countries) decarbonise heat, cooling and transport across the domestic and industrial markets.
The earliest sources of revenue for the Company are expected to be:
- Licensing agreements and partnerships with existing industry leaders
- Direct targeting of the Domestic Heat market
- Deployment of simple heating and cooling in the computing industry.
- Heating and gasification for agriculture.
Use of proceeds
The Funds raised will be used for continued development of the Energy Cell, including:
31% – Testing and refining to achieve high out/in ratio
25% – Development of prototypes for heating
21% – Engineering work to get published and peer-reviewed
8% – Legal work to protect and enhance the IP
14% – Essential overheads
Peer-reviewed publication is planned for mid-2023, and, we believe, should enable large-scale fund-raising at increased values.
Key Information
Debt
The company has the following outstanding loans:
1. £8,000 interest free directors loan from Chris Key. The loan does not have any fixed terms for repayment.
2. £30,000 interest free loan from the company secretary, Rupert Fraser. The loan does not have any fixed terms for repayment.
3. £83,000 interest free loan from Frontline Protection Systems Limited to be repaid over the next 24 months in monthly instalments of £3,500 until December 2024.
4.£119,000 interest free loan from E-Netiq Portsdown Limited to be repaid over the next 24 month in month instalments of £5,000 until September 2024.
5. £111k HMRC payment to be repaid in quarterly instalments of £29k until September 2023.
6. £8,000 outstanding payment to J Jenkin Associates payable in December 2022.
The funds raised from this investment round will not be used to repay these loans.
Share Classes
The company currently has 4 classes of shares, A Ordinary Shares, Ordinary Shares, Bv (voting) Shares and Bn (non-voting) Shares. Ordinary and A Ordinary Shares rank equally in all respects, except that the A Ordinary Shareholders’ votes are controlled by the board. All investors in this round, including Seedrs investors, will receive Ordinary Shares.
The B Shares are growth shares granted to key employees and advisors. Once an initial performance related hurdle is hit, the Bn shares convert to Bv and receive a right to vote. Once the shares are fully paid up, they convert to Ordinary Shares and have the right to participate on an exit.
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