A Leeds firm has linked up with the US developer of a low-energy cooling system to acquire the distribution rights to sell it around the world.
Phase 37, which invests and develops start-up businesses, has formed a joint venture with Cooling Technologies of Toledo, Ohio, over the new system which reduces the energy needed for air conditioning and refrigeration.
Phase 37 boss Simon Clothier said the heat-activated technology, no bigger than a double-door fridge, can reduce operating costs by 20 per cent in traditional air conditioning applications and by 80 per cent in a combined heat and power system.
He said the capture of waste or excess heat means a single entry-level unit can save the annual CO2 emissions of up to 14 family cars. It will be targeted mostly at medium-sized businesses, giving the technology a world market of about four million units per year.
Phase 37 is looking to fund the start of manufacturing and will find a European manufacturer. More than 40 test units are installed across North America and without formal marketing the company has expressions of interest for more than 12,000 units.