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Cleantech firms compete for $30m private equity funding

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Cleantech firms compete for $30m private equity funding

Physical Systems Integration (PSI), along with partner Biosolventus, have reached the semi-final round of Cleantech Challenge Mexico (CTCM) 2016. Their offering, a turbine warming system, reduces warm turbine startup times by nearly 50% and eliminates cold-starts altogether. Winners of the CTCM2016 compete for private equity investment up to $30 million.

Final winners will be announced in September, 2016. Apart from funding, they will also get support with IP protection, licensing, and marketing mentorship.

As one of the contenders, PSI must demonstrate how their clean technology minimizes the impact on Mexico’s environment. Its turbine warming system eliminates cold-starts; hence it reduces turbine fuel burn and emissions.

Avoiding component damage through heat stresses

A turbine warming system maintains a uniform temperature gradient across the steam turbine vessel – alleviating component damage that occurs with differential expansion. Heat stresses and metal fatigue associated with generator cycling can be avoided that way.

Toralf Hey of Biosolventus said the reduction in startup times would offer an “exciting value proposition for power generators participating in the newly created, competitive spot market in Mexico.”

In his view, “the global steam turbine generation market is expected to reach $192 billion by 2020 with a CAGR of 4.89%.”

Cleantech Challenge Mexico (CTCM) is a part of a global competition that promotes the investment in clean technology companies. Having run for seven years, the competition is supported by companies such as Banamex, AeroMexico, GreenMomentum, and ModuleSolar and multiple universities throughout Mexico.


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