Revolutionary cold generator technology secures investment to accelerate commercialisation
[Press release] – Paris, France – 26 November 2019
Alpinov X, that developed a highly efficient cold generator, has secured nearly €6 million in funding to product test and commercialise its innovation. Investors include EIT InnoEnergy, Europe’s largest sustainable energy accelerator, who holds a 15% stake in the business.
Established in 2017, Grenoble-based Alpinov X has developed and patented a technology based on an evaporation, condensation and multiple staged vacuum process that can generate cold with minimum constraints and maximum efficiency. The technology can be used in different ways, such as cooling data centres, generating cold air for district cooling or making snow for ski resorts.
The first product deployed by the company, the SNOW X, is a snowmaker that can create snow even when temperatures are above 0°C, enabling ski operators to commence and continue skiing activities when there is less natural snow. This has the potential to extend the ski season without putting unnecessary strain on electricity or water resources. The innovation has a power consumption less than eight times that of comparable technologies and 1.5 times less than traditional methods, as well as saving 40 per cent in water consumption.
The Snow X product has passed tests in two French resorts already, and Alpinov X is expecting to complete orders for two more French resorts for the 2020/2021 ski season.
Thomas Vinard, CEO of Alpinov X, notes “This significant funding milestone comes as we are fielding a dozen letters of intent ahead of the upcoming ski se
ason. We’ve worked hard to develop an environmentally friendly and economic solution for ski operators, and are delighted to see this level of interest in the product.”
Key investor EIT InnoEnergy provides support to start-ups across the sustainable energy space, significantly reducing their time to market. As well as funding, Alpinov X will benefit from a place on EIT InnoEnergy’s Highway Programme providing access to EIT InnoEnergy’s network of over 460 industry partners, as well commercial skills training and participation in industry events.
Richard Biagoni, CEO of EIT InnoEnergy France, adds “I love it when we discover a start-up that tackles a problem that you don’t automatically consider as a climate issue. A lot of the narrative is around decarbonising heat, energy and transport, which are essential to reach our climate goals, but it’s great to see innovations within the leisure space too.”