Sunday Times Ireland’s business section contained a surprising new article on intellectual property development firm Steorn.
Their HephaHeat hot water boiling technology looks certain to reinvigorate the companies finances with two multinational companies seeking to incorporate HephaHeat into consumer and commercial products netting Steorn royalties of around €50 Million per annum by 2017.
Sunday Times Ireland reported…
“The Dublin technology company that claimed it could produce energy from nothing says that it has signed collaboration agreements with two large multinational manufacturers writes Tim Madigan.”
The agreements cover the design work required to incorporate Steorn’s HephaHeat technology into products that use steam and hot water.
This development marks the first time consumer product manufacturers have considered using HephaHeat in their designs.
Steorn courted controversy by placing an advert in the Economist in 2006 inviting scientists to inspect it’s Orbo technology, which it claimed produced “free, clean and constant energy”.
A two-year verification process overseen by a scientific jury concluded that Steorn has “not shown any evidence of energy production”.
The manufacturers, more convinced of the technology’s potential, are keen to enter into a design phase with the company.
HephaHeat is the tradename for Orbo in heating applications.
Steorn has raised 19 million Euros from investors to date according to Sean McCarthy, Steorn’s chief executive. Recently filed accounts show accumulated losses had reached 17.2m by the end of 2010.
If manufacturers include HephaHeat in their products, a license agreement is envisaged which would provide a royalty fee for each product sold.
HephaHeat technology is designed for electric water-heating products aimed at the domestic and commercial water-heating industry.
McCarthy claims that royalty fees from these agreements could be bringing in up to 50 million a year by 2017 if these deals progress beyond the design stage.”
The article appeared in the print edition only and is shown below. Click for larger image.
What is HephaHeat?
The Steorn website states that…
HephaHeat low frequency induction heating is a patent pending method of using induction systems without the need for additional expensive power supplies.
Our systems are uniquely designed to plug directly into mains supplied AC and by utilising the 50 / 60Hz line frequency we replace the large and expensive power supplies normally required for induction heaters.
This provides simplicity, reliability and low cost with our systems – yet brings the same advantages of existing induction heating technology principles.
Principle of operation
The system works by charging a metallic thermal store to a high temperature (500 to 900°C). By using a material such as steel, which has approximately the same volumetric heat capacity as water, substantially more thermal energy may be retained than in a similar tanked volume of water.
When hot water is required, the cold water input is split into two separate branches. One is allowed to flow into the thermal store with the flow rate controlled by a standard valve. When this branch flows through the thermal store it is instantaneously converted to steam which is then mixed (via a steam injector) into the second branch of cold water.
This mix of steam to cold water allows the output water temperature to be controlled.
What is induction heating?
Induction heating relies on the principle of electromagnetic induction. This principle states that when a conductive material is placed in a rapidly changing magnetic field a current will flow in the conductive material.
Download the HephaHeat Brochure.
Visit the Steorn website.