Wankel Energy Systems, a startup incubated at IIT Madras, has raised $1 million in pre-seed funding from Shastra VC and strategic angel investors. The startup was founded by researchers at IIT-M, who have devised a technology to utilize wasted industrial steam as clean energy. The company will use the money to install more than 1,000 steam expander units across food, dairy, textiles, paper, chemicals, and pharmaceuticals sectors in Indian and international markets.
The Times of India
Technology and Impact
Born out of a Department of Science and Technology initiative, Wankel Energy is targeting India’s estimated ₹66,000 crore energy loss in the country’s process industries by converting wasted steam energy into robust, sustainable power. The company’s technology provides a solution to the tremendous energy inefficiencies found in several industrial processes.
Strategic Deployment and Market Expansion
CEO Balachandran Raju announced the startup’s strategy to conduct six pilot deployments shortly, with the first successful trial at Hatsun Dairy in Salem in July. The firm already has verbal orders for more than 40 units and is specifically targeting sectors such as paper, textiles, and rubber that are poised for decarbonization technology.
The Times of India
Future Prospects
The successful funding and pilot deployments place Wankel Energy in a strong position to be an exciting contender in the clean energy space, with the potential to impact significantly on energy waste and boost sustainability in India’s industrial sector.
