Econotherm has recently been recognised as a key player in the global waste heat recovery market in a range of reports by Marketwatch, Marketsandmarkets, Gadget247News, Market News Magazine, the Digital Journal and the latest Plimsoll report.
With an order value in 2018 of £3.5 million and a projected order intake of £4.1 million for 2019, Econotherm, who been delivering patented heat pipe technology custom-built solutions from their factory in Bridgend since 2007, have been able to create 10 new jobs this year already.
Seeing a growth of 30 new employees since 2015. Further job growth is projected with plans to open a second factory in the Bridgend area in the next year.
Econotherm design and manufacture heat pipes and heat pipe exchangers for use in diverse areas of industrial waste heat recovery. Their patented technology is renowned for being extremely robust and able to operate in many challenging heat recovery environments for the benefit of high energy users seeking to reduce ever increasing energy costs. Since the company started in 2007 they have delivered to almost every industrial sector and to over 22 export locations in every major global territory.
Econotherm has been working on a joint development with a Norwegian solar energy company since 2014 which has resulted in a major breakthrough in CZ Furnace cooling jacket technology. The solution based on Econotherm’s proprietary heat pipe technology now offers CZ Furnace operators a safe retrofit alternative to conventional cooling jacket designs. This technology will be taken to the Market by Econotherm in 2019 and has the potential to grow 10-fold growth over the next 2 years.
Econotherm is also currently involved in 4 Horizon 2020 EU funded development projects and has completed 2 Innovate UK funded projects. Additionally, Econotherm is active on 2
privately funded development projects in the food chain and marine sectors.
Managing Director – Mark Boocock said
“Econotherm’s proprietary technology and the technical advantages it offers have now been recognised by an increasing number of blue chip industrials. A good example is that the largest oil & gas company in the world have changed their entire strategy on oil refinery air pre-heaters and are now turning to the Econotherm solution to solve known shortcomings with their existing equipment. We also find ourselves working with a leading European Cruise Ship Builder and are in the middle of completing a technology partnership with a Chinese State-Owned entity for our novel energy saving supermarket refrigeration technology.
“The current order bank will see multiple units delivered to the USA, China, India, Lebanon, Ireland, Germany, France, Norway and Taiwan. These are exciting times although double digit growth does bring about its own management challenges.”