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Emerging technologies hold the potential to revolutionize both the aviation industry and the electricity sector.

The TechEnergy Ventures team and Liuminiscent founders. Occasionally, straightforward technologies can bring about transformative changes. TechEnergy Ventures, the energy transition arm of Tecpetrol, has identified two technologies with the potential to significantly impact electricity generation and air travel. One of these technologies is being developed by Israel-based Luminescent, aiming to harness heat from industrial and distributed generation processes, as well as the Earth’s core, as part of Geothermal 2.0, accelerating its role as a dispatchable renewable energy source. The potential is immense, considering that about seventy percent of the world’s energy is waste heat, with limited harnessing for electricity. While existing heat engines are large, expensive, and inefficient, resulting in substantial heat loss, Luminescent has ingeniously devised an efficient method to generate zero-emission electricity from any waste heat source. Their technology involves a heat-transfer liquid flowing into a nozzle, mixing with an expanding working fluid. The isothermal expansion accelerates the heat-transfer liquid, generating energy that powers a turbine in an engine shaft without energy loss. Andrea Siciliani, an investor at TechEnergy Ventures, expressed enthusiasm, describing it as a completely disruptive approach. Luminescent’s technology, cheaper to install and more efficient than traditional heat engines, enables the transformation of heat into electricity in smaller generators, expanding the potential of this renewable energy source. For instance, a steelmaker can convert waste heat from its production process back into electricity. The market potential is substantial, with opportunities in the United States alone to use this technology for engines under 7 MW amounting to $10 billion annually. Additionally, the potential for capturing waste heat from industrial applications is estimated at 7.6 GW, equivalent to $11 billion in potential one-off business. The technology also holds promise for converting heat from within the Earth into electricity through smaller-scale distributed geothermal power plants, potentially unlocking untapped geothermal potential. In another investment venture, TechEnergy Ventures is supporting OXCCU, a company initiated by scientists at the University of Oxford, UK. OXCCU has developed technology to convert carbon dioxide and hydrogen into sustainable aviation fuels (SAF). Aviation, responsible for nearly 3% of human-caused greenhouse gas emissions, poses challenges in decarbonization. OXCCU’s technology combines the well-known two-stage CO2 + H2 conversion process into a one-step catalytic conversion through a proprietary iron-based catalyst. The result is a decarbonized alternative to fossil-based fuel for commercial airlines with a jet fuel range and a potential 50% lower capital cost. Tomás Rauch, an investor at TechEnergy Ventures, emphasized that energy-dense, drop-in fuels could be the best way to decarbonize the aviation sector. OXCCU’s SAF, with CO2 and hydrogen as feedstock, could offer a second life to CO2 emissions or even achieve a neutral carbon footprint. While other solutions for decarbonizing aviation face distinct challenges, such as cost and infrastructure for hydrogen or energy density and weight for batteries, OXCCU’s SAF presents a promising alternative that, under certain conditions, could compete with traditional fossil-based jet fuel in the future. With SAFs projected to replace 93% of fossil-based jet fuel by 2050, creating a market of around $400 billion, OXCCU’s technology could play a crucial role in decarbonizing air travel.

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