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SOLATOM

Problem

Two thirds of the energy consumption in the industry is thermal energy, which is produced with expensive and polluting fos- sil fuels. In the case of heat intensive sectors, like food processing for example, thermal energy can represent more than 70% of the overall production costs, squeezing their margins and their compe- titiveness. Industries looking for solar energy alternatives, find that current technologies are only competitive at large scale (over 5MW), making them unviable for most industrial applications.

Solution

Solatom offers industries a viable alternative to traditional solar projects, producing pre-assembled modules which, connected together, form a solar plant. These modules are transportable, and can therefore be fully built in a factory, as opposed to traditional designs where the whole solar plant must be built on site. This approach takes advantage of in- factory series production, cutting production costs by 65%. As a result, Solatom enables industries using fossil fuels, to cut their thermal energy costs by up to 37%, with less than 3 years payback.

Uniqueness, Technology overview, barriers to competition

Our design uses mirrors that follow the sun to concentrate the sunlight into a receiving tube where steam or thermal oil is heated up to 300oC. All components are assembled in our module which has the same size and transportability of a standard goods container. Once assembled, every module is calibrated and tested before being shipped, avoiding costly on-site construction and commissioning. All modules forming the solar plant are easily connected to the client’s production process becoming operative just one hour after the delivery.

Market size and analysis

According to the EU-JRC, thermal energy consumption in south European industries mounts to 19.000 M€ and grows by 7% each year. Our initial beachhead market is formed by food industries located in south European regions with a high price of fossil fuel (above 4c€/kWh), this represent a market of 89M€. We have started in the Spanish market (200 companies c.14M€). Internationalization will start in 2019, by shipping modules built in our factory in Spain.

Traction

Concept proven with pilot. Two projects sold to industries in the last three months. Five more in the pipeline (+430k€). Invested by Lanzadera (startup accelerator owned by the biggest supermarket chain in Spain, with access to a 240 food factories network)

Core Team

First Name Last Name Job Title Impressive Facts
Miguel Frasquet CEO MBA and PhD in Solar Energy, 6 years’ experience in managing solar projects for industrial applications
Raul Villalba CFO MBA at London BS, 7 years’ finance experience within solar companies, consultant firms, and a cleantech VC
Juan Martinez CTO MSc. Mech. Eng, 6 years’ experience in designing and manufacturing industrial equipment in aeronautics

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