SubsidieMeestersDisrupting the cooling and heating industry: a revolutionary green, energy efficient and cost competitive magnetocaloric technology platform
Magneto's innovative magnetocaloric heat pump uses affordable non-rare earth materials to provide sustainable heating and cooling, targeting high-energy-cost markets in Northern Europe.
Projectdetails
Introduction
Magnetocaloric (MC) heat pumps can unlock sustainable heating and cooling by limiting GHG exhaust! So far, nobody has been able to create a commercially sustainable product due to high costs of rare-earth materials needed.
Technology Development
Magneto’s technology has, based on our patented composition of MC material, for the first time ever, developed a heat pump using affordable and available non-rare earth materials.
Market Potential
Our heat pump will enable scalability to the most price-sensitive markets:
- Northern European countries with high energy costs
- Incoming regulation on GHG emissions
- Increased need for commercial cooling equipment due to urbanization
Future Plans
With EIC support, we will expand our current temperature span and run first pilots in the commercial cooling sector by 2025. This will:
- Prove our product and business model
- Increase market attraction
- Improve our further fundraising position
Financial Projections
We plan to reach breakeven by 2027 and a revenue of €85 million with a gross margin of 78% by 2029.
Financiële details & Tijdlijn
Financiële details
| Subsidiebedrag | € 2.499.999 |
| Totale projectbegroting | € 3.573.541 |
Tijdlijn
| Startdatum | 1-12-2023 |
| Einddatum | 30-11-2025 |
| Subsidiejaar | 2023 |
Partners & Locaties
Projectpartners
- MAGNETO BVpenvoerder
Land(en)
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