TORONTO, ONTARIO--(Marketwired - Feb. 20, 2014) - An innovative and eco-friendly energy solution that converts exhaust heat from trucks and other large engine vehicles into a power source for on-board heating and cooling systems is getting a boost from Ontario Centres of Excellence (OCE).
Through its Market Readiness 3 and Special Energy Fund programs, OCE is investing $250,000 in Bolton, Ontario-based EnerMotion's Hybrid Power and Energy Recovery (HYPER) technology.
"EnerMotion's innovation represents a significant accomplishment with tremendous global market potential," said OCE President and CEO Dr. Tom Corr. "HYPER is a real game-changer in the transportation industry and OCE is proud to be supporting this made-in-Ontario product."
HYPER works by capturing waste exhaust heat from vehicles to power an energy-efficient heating, ventilating and air conditioning (HVAC) system that works while driving and eliminates engine idling (and associated emissions) while stationary. The company's first market application for HYPER is in tractor-trailer type, Class 8 heavy trucks.
The HYPER technology was developed with research assistance from several Ontario post-secondary institutions. EnerMotion CEO and President Jack MacDonnell said OCE has played an important role in the company's development.
"OCE's ability to connect the dots between industry and academia is extremely helpful and the financial support in recognition of the opportunities that lie ahead for the HYPER technology will allow us to take this technology to the global stage," said MacDonnell.
"Innovative companies, such as EnerMotion, will help ensure Ontario's future prosperity and improve the day-to-day lives of Ontarians," said Reza Moridi, Minister of Research and Innovation. "Through OCE's strategic investments and the support of the Government of Ontario, EnerMotion is well-positioned to become a leader in the transportation industry. Investing in new technologies is part of Ontario's economic plan that invests in people, builds modern infrastructure and supports a dynamic and innovative business climate."
About Ontario Centres of Excellence (OCE) Inc. (www.oce-ontario.org)
Ontario Centres of Excellence (OCE) drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. In doing this, OCE fosters the training and development of the next generation of innovators and entrepreneurs and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and government ministries. A champion of leading-edge technologies, best practices and research, OCE invests in sectors such as advanced health, information and communications technology, digital media, advanced materials and manufacturing, agri-food, aerospace, transportation, energy, and the environment including water and mining. OCE is a key partner in delivering Ontario's Innovation Agenda as a member of the province's Ontario Network of Entrepreneurs (ONE). Funded by the Government of Ontario, the ONE is made up of regional and sector-focused organizations and helps Ontario-based entrepreneurs and industry rapidly grow their company and create jobs. For more information visit www.onebusiness.ca.
About EnerMotion Inc.
EnerMotion Inc. was founded in 2008 by a small team of scientists, engineers, and business professionals dedicated to sustainable energy efficient technologies. The company's highly experienced team has worked on alternative fuels, rapid transit, hybrid and electric vehicles, aerodynamics, fuel cells, and control system design for more than 20 years. The company's waste heat recovery technology known as 'HYPER', is now entering customer demonstration trials in the heavy duty vehicle market. EnerMotion is also a Sustainable Development Technology Canada (SDTC) portfolio company. www.enermotion.com.