Futraheat secures £1.5m funding in seed round

Industrial heat pump manufacturer Futraheat has closed a £1.5m seed funding round, led by UK venture capital outfit, Clean Growth Fund.

CEO Tom Taylor outside Futraheat's Surbiton facility
CEO Tom Taylor outside Futraheat's Surbiton facility - Futraheat

The London-based startup’s Greensteam heat pump technology is used to recycle waste heat from industrial processes, reheating it back up to the 100-200°C temperature range. According to Futraheat, Greensteam could allow some businesses to make enormous savings on their industrial energy consumption, with a current focus on the food and pharmaceutical sectors.  


“The Greensteam high temperature heat pump, when replacing a fossil fuel boiler, will reduce energy consumption by up to 90 per cent and reduce carbon emissions by up to 100 per cent when the heat pump is powered by renewable energy,” said Futraheat CEO, Tom Taylor.

“The heat pump will payback in as little as two years from fuel cost savings of up to 40 per cent. This is becoming increasingly important for our customers who are looking to the market for commercially available solutions to decarbonise their assets, given upcoming net zero targets and high energy prices.”

Central to Greensteam’s efficiency is patented compressor, known as TurboClaw. Created specifically for industrial processes, it operates without oil at a relatively low 20,000 RPM, compared with the 60,000 RPM typicall found in a comparable centrifugal compressor.


The TurboClaw compressor - Futraheat


The company is currently developing its first full sized 300kWt technology demonstrator at its Surbiton facility which will be trialled at a brewery later this year. According to Futraheat, the £1.5m funding will be used to productionise the Greensteam heat pump for wider commercial trials and product launch in 2024, as well as add to the company’s workforce.

“This funding represents a significant milestone for Futraheat as we move from a technology to a product developer,” Taylor continued. “With this funding we will work towards our company mission of decarbonising industry through electrification technology, making a meaningful dent in global emissions. We are pleased to be working with Clean Growth Fund, who share this vision and provide a wealth of expertise and know-how in this area.”