Lappeenranta, Finland (June 29, 2022) – SpinDrive Participates in the €14 million DECAGONE project funded by the EU.
The “DECAGONE” project – DEmonstrator of industrial CArbon-free power Generation from ORC-based waste-heat-to-Energy systems – started officially on June, 1st 2022. The project is funded by the European Union’s Research and Innovation Framework Programme Horizon Europe (G.A. 101069740), with a total budget of about €14 million and a duration of 4 years.
The ambition of DECAGONE is to develop state-of-the-art technological solutions to increase energy efficiency in industry and reduce Greenhouse Gas (GHG) and air pollutant emissions from industry by recovering and converting excess industrial heat into electricity.
Within the EU, up to 1/3 of energy for industrial thermal processes is lost through waste heat. The potential power generation from this energy resource through full use of Organic Rankine Cycle (ORC) would represent around 7.6 million tons of CO2 equivalent saved per year at the European level.
The solution, developed by a consortium of 16 partners from 10 European countries, is based on ORC technology. SpinDrive is one of the 16 partners which is specialized in active magnetic bearing (AMB) and data analysis technology. This project aims to achieve scalability to higher power levels, improve cost-effectiveness, wider input temperature ranges, and a significant reduction in system size, allowing wider take-up of heat recovery and its conversion to electricity from more industrial processes. The solution will be demonstrated in the TŘINECKÉ ŽELEZÁRNY steel Mill in the Czech Republic with a 2 MW installation equipped with SpinDrive magnetic bearings.
Within the scope of the project, the potential of this solution will be evaluated in six other heat-intensive industrial sectors. Market potential and Europe-wide transposability for other use cases (aluminum, glass, gas-energy, oil & gas and refineries, LNG terminals, and cement) will be evaluated. New financing and business models will also be explored, to support long-term operations of the erected assets, coping with long-lasting and resilient industrial processes.
Nikita Uzhegov, COO and co-founder of SpinDrive says, “We are proud that our expertise in active magnetic bearings has been recognized by the European industry. It’s a great pleasure to work with many other leading companies on the cutting-edge waste-heat-to– energy solution. This project will significantly improve the energy efficiency of the industrial companies, meanwhile, it will have a great impact on the CO2 emissions and will open new market opportunities for us. This matches with SpinDrive’s mission perfectly.”
About SpinDrive
SpinDrive improves the energy efficiency of industrial processes by providing active magnetic bearings to equipment manufacturers. SpinDrive solution increases system efficiency by at least 10%, which enables a 2-year payback time. SpinDrive system is completely maintenance-free, which reduces the overall equipment maintenance costs by 80%. We eliminate the need for oil lubrication, which provides manufacturers an opportunity to enter new markets. Our built-in sensors enable condition monitoring of the whole unit.
For more information about the DECAGONE project, please contact:
Nikita Uzhegov, COO and Co-founder
+358 50 5188 569
SpinDrive. June 29th, 2022
