Luminescent, Grove Ventures’ Portfolio Company, Featured in ISRAEL21c
Luminescent has developed a technology to capture waste heat, which accounts for around 70% of all energy produced globally, and convert it into electricity. Their heat engine uses an isothermal process and a heat-transfer liquid to convert waste heat into kinetic energy, operating a generator to produce power. The company’s system is more efficient and smaller than existing solutions, targeting the market of small power generators. Luminescent has raised $7 million in seed funding led by leading Israeli early-stage venture capital firm Grove Ventures and plans to begin pilot projects in 2023, with sales expected to commence in 2025. The company aims to expand its focus to other markets such as geothermal energy, renewable storage, and data center cooling.
>> Click here to read the full article originally published in PlanetTech