Aussie industrial equipment company Industrial Equipment Limited (IEL) has been granted approval to sell a system that can heat up to 4,000 sq ft of industrial equipment and convert it into a gas furnace.
Industrial Equipment Limited, a small Australian company based in Melbourne, has been awarded the approval to build a system to heat up industrial equipment to a room temperature of around 5,000 degrees Celsius.
Industrial equipment from the company could potentially be used to power the homes of some of Australia’s largest companies, including the National Australia Bank, the Australian Building and Construction Commission and the Commonwealth Bank.
The approval is part of a broader $50 million expansion to Industrial Equipment.
The company is currently working on an expansion to its Melbourne headquarters, with the first units to go online later this year.
IEL has been working with a small group of industrial manufacturers in Australia, including Kallisto and Bower Industries, and with companies in the US and Europe, to develop a gas-free furnace that can be used in industrial processes such as welding, heating, or packaging.
“Our goal is to develop gas-based heating for the manufacture of industrial heat pumps,” IEL chief executive Ian McEwen said.
“We believe that our gas-driven systems will reduce heat loss, increase efficiencies, and reduce the cost of gas-fired industrial heat production.”
The gas-powered system will be able to heat a room in a matter of minutes, using solar-powered batteries and the company is now seeking investment from industrial customers.
If the funding is secured, the gas-fueled system could also be used for the production of electricity from waste heat.
McEwen added that the gas furnace could be used by companies that use the waste heat as a fuel for steam engines, power pumps, and other processes.
He said the system would be cheaper than using coal-fired power plants and would save money for companies operating on a coal-burning basis.
In the future, IEL is also looking at using the system to generate electricity for homes and businesses, with potential for commercial use in the future.
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