Cowa Thermal Solutions AG has raised in excess of 1 million Swiss francs from private investors and its own founders Remo Waser and Simon Maranda as part of a first financing round. This fresh capital injection will be used by the start-up headquartered at the Technopark Luzern to ramp up commercialization activities for its thermal energy storage solution for heat pumps, further details of which can be found in an article published on the portal startupticker.ch.
The cleantech start-up is developing a thermal energy storage solution with capsules containing environmentally friendly salts as a phase change material. A tank filled with the capsules can absorb three times more energy than a conventional water tank for heat pumps. According to the information in the article, this makes a heating system less dependent on mains electricity. In addition, unlike batteries or rechargeable batteries, it does not use lithium.
The storage system filled with the Cowa capsules has been available from the building technology specialist Meier Tobler since April of this year. According to startupticker.ch, the additional costs for the Cowa product compared with conventional storage systems are quickly offset due to the energy density and longevity of 20 years.
In addition to further scaling the business on the domestic market, the company has plans to expand into Germany in the near future. Initial talks with sales partners have already taken place.
