Focusing the Sun - Lightheat
The next startup participating in the Booster Lab in Tel Aviv is Lightheat. They use solar energy to not only heat buildings, but cool them, as well. Their potential impact is immense, as the heating and cooling of buildings accounts for 40% of fuel/electricity consumption. Having received the HORIZON2020 SME Instrument Phase 1 Grant, Lightheat has already been backed by some large players in their field. We are excited to see how we can push their business and impact over the course of next week’s programme.
We spoke to Christos Drongitis, R&D Manager and Managing Director Lightheat, to see where this idea came from and how it can mitigate the travel industry’s impact. Here’s what he said:
What triggered you to start your business?
When I was working as a hotel manager in Greece, I grew to understand that their is a great need and opportunity for renewable energy used for the heating and cooling applications of hotels, factories and other large buildings.
What does your startup do?
We develop robotic concentrated thermal solar collectors that can reduce the consumption of fuels in the heating and cooling of buildings such as hotels and factories up to 60%. It does so in a practical and cost efficient way that has the very short payback period of less than 5 years without government subsidies.
What is the impact of your product or service on the travel industry?
Hotels consume a substantial amount of fuel and electricity in their heating and cooling. This has a profound negative impact on the economy and the environment. Lighthouse Solar Collector (LSC) collects solar energy efficiently and replaces, in some cases, more than 60% of these otherwise-consumed fuels with solar energy. This has a number of positive impacts. Firstly, it reduces hotel cost that can lead to more competitive and attractive travel packages. It provides cleaner air in the area where many hotels are concentrated as standard heating and cooling practices are polluting. Finally, hotels that have adopted “Green” energy practices can market themselves to a new segment of the travel industry and become more attractive to potential customers. In general, wide-scale use of the LSC can reduce GreenHouse Gas emissions, mitigate the effects of climate change and increase the energy security of the region.
What recent milestones are you most proud of?
In November 2017, LIGHTHEAT P.C. received the Seal of Excellence for the proposal for the development and Market Uptake of LSC, in HORIZON2020 SME INSTRUMENT PHASE II.
We’re all set for kick off on Tuesday! We can’t wait to welcome all 9 startups and introduce them to their mentors. Only 2 short days after that until they’ll be pitching at Rise Tel Aviv for their chance to be granted up to €25,000.
If you missed yesterday’s blog about Knowers, you can find it here. Stay tuned to hear about the final 3 startups in the coming days!