7. Elastocalorics

WEF Emerging Technology 2024

Elastocalorics

As global temperatures rise, the need for cooling solutions is set to soar. Offering higher efficiency and lower energy use, elastocalorics release and absorb heat under mechanical stress, presenting a sustainable alternative to current technologies.

Competitive Environment in Elastocalorics

Companies and universities with conceptually close patents to the technology definition

Identification of competitive environment

The chart shows the competitive environment in the WEF technology based on technological similarity of patents. The EconSight uses cutting-edge AI-based patent analysis to identify conceptually close patents to the technology definition. The relevance of the companies and universities shown is calculated as the similarity of their patents compared to the technology concept. The closer to the core, the higher the similarity. An identified patent is measured by the distance of its closest text element compared to the target concept. A patent owner is positioned according to its closest patent’s distance. The environment further categorized into segments. A distinction is made between small and large companies on the basis of their total patent portfolios. The small and specialised companies can be identified, as well as their potential (exit) partners. Universities and research institutions are also separated.

Countries in technology
(number of active patents in technology in 2024 country by inventor address) 

Patent activity by country

The chart shows the identified patents in the technology by country, based on the addresses of the inventors. The inventors are named on the patents with their addresses and can therefore be associated with their home countries. If inventors from different countries are named on the patent, it is associated with each named country. This indicator shows where the invention was actually made and where the technological expertise is located.

Development of patent publications
(publications per year) 

Patent activity by publication year

The chart shows the identified patents in the technology as a time series by publication year. This indicator shows, on the one hand, the novelty value of the technology, i.e. the time from which the first significant numbers of patents have been published. On the other hand, the indicator shows the dynamics of development. In emerging technologies, patent publications should increase significantly over time. The current year 2024 is not yet complete, therefore the numbers are lower than in previous years.

EconSight comment and short analysis

Elastocaloric systems are manifold. The main effect of these systems is the possibility to absorb and release heat in a controlled manner. This can happen through smart materials, but more common is the use of electrical devices and machines. Heat pumps to produce heat, smart HVACs to produce cooling or Heat/Release mechanisms for energy storage, all have a controlled heat absorption/release cycle in common. The search concepts reflect this broad definition and produce many expected players, such as Panasonic, Daikin, Carrier or Bosch in the field of Heat Pumps and HVACs. We can see also various other industry players in this field, such as Volkswagen, Denso or Vitesco, who seem to claim specific cooling solutions in the automotive space. Carrier is particularly notable for actively researching Elastocaloric systems by utilising shape memory alloys (SMA) for cooling and heating purposes, alongside traditional HVAC and cooling systems. Exergyn is an example of a small player entering the field of emission free heat pumps by using elastocaloric shape memory alloys. However, the university sector is surprisingly limited, with only a few active players, including the University of Maryland, KITECH and Fraunhofer.

It should be mentioned at this point that the semantic term ‘elastocaloric’ is rarely used. It may be that a search for general shape memory alloys would lead to different results. On the other hand, we are looking for a rather broad heat storage/release concept. For example, we found Fraunhofer to specify ‘mechanocaloric’ systems instead. While the semantic proximity for the search AI used here is not difficult to find, we can only guess which other patents and players might be active in the field of modern heat pumps or smart HVACs.

Background

  1. Textual concepts are generated for each WEF technology.
  2. The concepts are applied to our full-text AI-RAG (retrieval augmented generation system) which is optimised for highest precision patent analysis to identify the semantically close patents for each technology.
  3. A competitive environment with the most relevant companies and research institutions is developed where the relevance is calculated as the similarity of their patents compared to the technology concept. The closer to the technology core, the higher the similarity. Large corporates, small specialists and research institutions are shown separately.

Elastocalorics: As global temperatures rise, the need for cooling solutions is set to soar. Offering higher efficiency and lower energy use, elastocalorics release and absorb heat under mechanical stress, presenting a sustainable alternative to current technologies.

This invention relates to an elastocaloric cooling system that employs shape memory alloys (SMAs) to achieve high-efficiency thermal management. The system operates by applying and releasing mechanical stress to SMAs, which undergo a phase transformation that absorbs and releases heat, providing a cooling effect. This elastocaloric process offers a significant reduction in energy consumption compared to traditional vapor-compression refrigeration systems. The technology is particularly suited for applications in residential and commercial cooling, offering a sustainable alternative with lower greenhouse gas emissions and reduced environmental impact.

The present invention describes a compact elastocaloric heat pump designed for sustainable cooling in portable electronic devices. The heat pump utilizes an elastocaloric material that undergoes cyclic mechanical loading and unloading, producing a cooling effect without the need for harmful refrigerants. The system is designed to be lightweight and energy-efficient, making it ideal for integration into laptops, smartphones, and other portable electronics. This technology provides an environmentally friendly cooling solution, extending the operational life of devices while reducing their carbon footprint.

This invention presents an elastocaloric air conditioning system for energy-efficient climate control in buildings. The system utilizes a network of elastocaloric materials embedded in heat exchangers, where mechanical stress is applied to induce temperature changes. The resulting cooling effect is distributed throughout the building via a smart control system that optimizes energy usage based on real-time temperature data. This elastocaloric approach to air conditioning significantly reduces electricity consumption and eliminates the use of refrigerants with high global warming potential, contributing to more sustainable building practices.

The invention describes an elastocaloric refrigeration device designed to achieve enhanced thermal cycle efficiency. The device utilizes elastocaloric materials that release and absorb heat when subjected to mechanical stress cycles. The system is engineered to maximize the cooling power of each cycle, reducing the overall energy required to achieve the desired temperature. The refrigeration device is suitable for both industrial and household applications, providing a greener alternative to traditional refrigeration technologies by lowering energy consumption and eliminating the need for environmentally harmful refrigerants.

This patent describes a modular elastocaloric cooling system designed for scalable industrial applications. The system consists of multiple elastocaloric modules that can be configured to meet varying cooling demands in industrial processes. Each module contains elastocaloric materials that undergo mechanical stress cycles to provide cooling, with the system’s scalability allowing for customization based on specific operational requirements. The modular design enables easy maintenance and upgrades, while the elastocaloric process offers significant energy savings and environmental benefits, making it a sustainable solution for industries looking to reduce their carbon footprint.

precision-investment

Further information on our analysis approach and how we identify the most exciting startups and newcomers in highly specialised technology domains and evaluate them for private equity and venture capital can be found in our Precision Investing approach.

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