SubsidieMeestersDisrupting the cooling and heating industry: a revolutionary green, energy efficient and cost competitive magnetocaloric technology platform
Magneto's innovative magnetocaloric heat pump uses affordable non-rare earth materials to provide sustainable heating and cooling, targeting high-energy-cost markets in Northern Europe.
Projectdetails
Introduction
Magnetocaloric (MC) heat pumps can unlock sustainable heating and cooling by limiting GHG exhaust! So far, nobody has been able to create a commercially sustainable product due to high costs of rare-earth materials needed.
Technology Development
Magneto’s technology has, based on our patented composition of MC material, for the first time ever, developed a heat pump using affordable and available non-rare earth materials.
Market Potential
Our heat pump will enable scalability to the most price-sensitive markets:
- Northern European countries with high energy costs
- Incoming regulation on GHG emissions
- Increased need for commercial cooling equipment due to urbanization
Future Plans
With EIC support, we will expand our current temperature span and run first pilots in the commercial cooling sector by 2025. This will prove our product and business model, increase market attraction, and improve our further fundraising position.
Financial Goals
We plan to reach breakeven by 2027 and a revenue of €85 million with a gross margin of 78% by 2029.
Financiële details & Tijdlijn
Financiële details
| Subsidiebedrag | € 2.499.999 |
| Totale projectbegroting | € 3.573.541 |
Tijdlijn
| Startdatum | 1-12-2023 |
| Einddatum | 30-11-2025 |
| Subsidiejaar | 2023 |
Partners & Locaties
Projectpartners
- MAGNETO BVpenvoerder
Land(en)
Vergelijkbare projecten binnen EIC Accelerator
| Project | Regeling | Bedrag | Jaar | Actie |
|---|---|---|---|---|
Highly efficient and sustainable refrigeration based on solid state Magnetic Cooling DeviceMagnotherm has developed a revolutionary magnetic cooling system that eliminates greenhouse gas emissions and enhances efficiency, achieving 40% electricity savings without harmful refrigerants. | EIC Accelerator | € 2.500.000 | 2022 | Details |
A new high-performance and environmentally clean engine for heat pumps, using thermo-acoustics technologyBlue Heart Energy has developed a patented thermoacoustic technology to enhance heat pump performance, making them more affordable and efficient for widespread adoption in sustainable heating and cooling. | EIC Accelerator | € 2.471.508 | 2022 | Details |
RΕΗΕΑΤ: REcycled industrial HEATThe ecop Rotation Heat Pump RHP K7 provides a sustainable, efficient solution for industrial heat recovery, reducing fossil fuel dependence and supporting EU decarbonization goals. | EIC Accelerator | € 2.499.999 | 2024 | Details |
Highly efficient and sustainable refrigeration based on solid state Magnetic Cooling Device
Magnotherm has developed a revolutionary magnetic cooling system that eliminates greenhouse gas emissions and enhances efficiency, achieving 40% electricity savings without harmful refrigerants.
A new high-performance and environmentally clean engine for heat pumps, using thermo-acoustics technology
Blue Heart Energy has developed a patented thermoacoustic technology to enhance heat pump performance, making them more affordable and efficient for widespread adoption in sustainable heating and cooling.
RΕΗΕΑΤ: REcycled industrial HEAT
The ecop Rotation Heat Pump RHP K7 provides a sustainable, efficient solution for industrial heat recovery, reducing fossil fuel dependence and supporting EU decarbonization goals.
Vergelijkbare projecten uit andere regelingen
| Project | Regeling | Bedrag | Jaar | Actie |
|---|---|---|---|---|
Multi-property Compositionally Complex Magnets for Advanced Energy ApplicationsThe CoCoMag project aims to develop innovative, critical-element-free magnets using compositionally complex alloys to enhance e-mobility and magnetic refrigeration for a sustainable energy future. | EIC Pathfinder | € 2.987.943 | 2023 | Details |
Clean and efficient cooling in vaccine transportation using Rotating Magnetocaloric EffectThe Magccine project aims to develop a cost-effective, efficient solid-state magnetic refrigerator using the rotating magnetocaloric effect to enhance vaccine cold chain logistics and reduce waste. | EIC Pathfinder | € 3.635.772 | 2024 | Details |
Elastocaloric COoling and HEAT-pumpingThe E-CO-HEAT project aims to advance elastocaloric technology for heating and cooling by enhancing device readiness, conducting industry testing, and developing a business model for market introduction. | ERC Proof of... | € 150.000 | 2024 | Details |
MagnetoCaloric HeatPump PilotHet project ontwikkelt een innovatieve magnetische warmtepomp voor supermarkten, gericht op energiezuinige en emissieloze koeling, met een gevalideerde pilotopstelling als resultaat. | Demonstratie... | € 571.462 | 2023 | Details |
McPrintMagneto onderzoekt de 3D-printmogelijkheden van magnetocalorische materialen voor efficiënte warmtepompen en motoren, met als doel een betrouwbaar productieproces te ontwikkelen. | Mkb-innovati... | € 20.000 | 2020 | Details |
Multi-property Compositionally Complex Magnets for Advanced Energy Applications
The CoCoMag project aims to develop innovative, critical-element-free magnets using compositionally complex alloys to enhance e-mobility and magnetic refrigeration for a sustainable energy future.
Clean and efficient cooling in vaccine transportation using Rotating Magnetocaloric Effect
The Magccine project aims to develop a cost-effective, efficient solid-state magnetic refrigerator using the rotating magnetocaloric effect to enhance vaccine cold chain logistics and reduce waste.
Elastocaloric COoling and HEAT-pumping
The E-CO-HEAT project aims to advance elastocaloric technology for heating and cooling by enhancing device readiness, conducting industry testing, and developing a business model for market introduction.
MagnetoCaloric HeatPump Pilot
Het project ontwikkelt een innovatieve magnetische warmtepomp voor supermarkten, gericht op energiezuinige en emissieloze koeling, met een gevalideerde pilotopstelling als resultaat.
McPrint
Magneto onderzoekt de 3D-printmogelijkheden van magnetocalorische materialen voor efficiënte warmtepompen en motoren, met als doel een betrouwbaar productieproces te ontwikkelen.