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LIKIDO ONE® REDUCES CO2 EMISSIONS WITH -70°C LOW TEMP REFRIGERATION IDEAL FOR "GREENING" OF COMMERCIAL FACILITIES, IMPLEMENTS EUROPEAN GLOBAL CLIMATE CHANGE POLICY, AND ALIGNS WITH CLIMAGAL S.L. FOR EXPANSION IN SPAIN, FRANCE, ROMANIA
SAN DIEGO, Aug. 5, 2020 /PRNewswire/ -- Dalrada Financial Corp. (OTC Pink: DFCO) announced today that its portfolio company, Scotland-based Likido Limited ("Likido") that focuses on "greening" of laboratories, hotels, hospitals, manufacturing and homes with energy efficient heating and cooling, was awarded a grant from the UK government's innovation agency, Innovate UK. Likido's energy efficient CryoChillersSM freeze to a low temperature of minus 70 degrees (-70°) while saving as much as 75% of energy cost. The Innovate UK grant was awarded for "repurposing environmentally damaging HFC cryogenic chillers to environmentally inert natural refrigerant".
Currently, mechanical compressor-based low-temperature refrigeration systems use high cost and environmentally damaging hydrofluorocarbon (HFC) refrigerant gases. Under the UK-EU and UN climate change policies, HFC gasses are to be phased-out over the next 10-years. A U.S. National Library of Medicine National Institutes of Health report details the energy use of laboratory refrigeration units at minus 70 degrees versus minus 80 degrees:
The daily energy consumption for just one standard-efficiency freezer at −80 °C can equal the daily average electricity consumption for one U.S. single-family home
Freezers use up to 40% less energy when set to −70°C rather than −80 °C
−70 °C is enough to keep samples such as antibodies and antioxidant assays stable, with even −20 °C being sufficient for certain applications, such as storing extracted RNA for one month
LIKIDO REDUCES GLOBAL WARMING POTENTIAL
The global warming potential (GWP) of Likido's new two-stage compression CryoChillersSM is less than 50. In contrast, GWP of HFC refrigerants is 3,790 over 20-years.
In contrast, Likido's proprietary low-carbon, industrial and residential, all-in-one heating and cooling pump design implements supercritical CO2 as a "natural non-toxic, non-flammable and CFC/HFC-free working fluid". This future-proof technology enhances the energy efficiency of both fossil and renewable power sources using only 25% of the energy of traditional boilers and electric heaters. Likido's cost-saving design has proven to be a strategic element in the global challenge to decarbonize heating. With the Innovate UK grant, Likido is expediting manufacturing of its new range of energy efficient, low temperature CryoChillersSM refrigeration units.
Likido's CEO, Stuart Cox, states, "It is a privilege to be recognized by Innovate UK and play our small yet vital role with reducing HFC emission from low-temperature refrigeration systems. Likido's goal is to create a better, sustainable world."
LIKIDO IMPLEMENTS EU CLIMATE CHANGE POLICY WITH CLIMAGAL S.L.
Likido signed a product assembly and distribution agreement for Spain, France, and Romania with CLIMAGAL S.L. one of Spain's oldest and leading refrigeration and air conditioning companies. The collaboration will result in a new multi-million-dollar revenue stream from sales and royalties in the regions valued at a minimum of $2.0 million EUR in 2021.
CLIMAGAL S.L. specializes in HVAC installation and service for the world's top hotel groups. Providing energy performance contracts for their clients, CLIMAGAL S.L. also works closely with energy consultants and energy auditors.
GREENING HOTELS, HOSPITALS, MANUFACTURING SAVES COST AND SPACE
Deploying Likido®ONE, a combined heating and cooling unit, can save hotel owners the cost of total energy consumption of hot water and air conditioning systems while reducing carbon emissions. For example, based on a 250-bed hotel in California, a single Likido®ONE module will save an average of $110,000 USD/year in energy costs operating at the currently exceptionally low oil prices.
The standard approach to provide heating and cooling in hotels has been with hot water heaters/boilers coupled with environmentally damaging HFC-based conventional cooling towers or HFC-based heat pumps. The average energy used by hotels is in the range 305-330 kWh/m2/yr. In warmer climates, hotel air conditioning is the largest single use of energy accounting for approximately half of the total consumption. Domestic hot water is commonly the second largest use at hotels, accounting for around 17 percent of the total energy demand.
The Likido®ONE system uses a "natural non-toxic, non-flammable and CFC/HFC-free working fluid" and operates in a combined heating and cooling mode. Likido®ONE produces 160kW of high-grade heat while it extracts -120kW of cooling at traditional temperatures for an electrical input of just 37kW, a coefficient of performance (COP) 1:8. Likido®ONE's all-in-one small footprint replaces hot water heaters, refrigerators, and cooling towers; this frees up valuable floor space.
About Likido Limited
Likido is an international technology company, developing advanced solutions for the harvesting and recycling of energy. Using its novel heat pump systems (patent pending), Likido is revolutionizing the renewable energy sector with the provision of innovative modular process technologies to maximize the capture and reuse of thermal energy for integrated heating and cooling applications. With uses across industrial, commercial and residential sectors Likido seeks to provide cost savings and to minimize carbon emissions across supply chains. Likido's novel technologies enable the effective recovery and recycling of process energy, mitigating against climate change and enhancing quality of life through the provision of low-carbon heating and cooling systems. For more information, please visit www.likido.net.
About Dalrada (DFCO)
Dalrada Financial Corp. (OTC Pink: DFCO) solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or contact us at firstname.lastname@example.org.
About CLIMAGAL S.L.
CLIMAGAL S.L. holds more than thirty years' experience in the air conditioning market. Climagal S.L. is an Engineering and manufacturing expert in development and management of customized solutions for energy efficiency with industrial heating, cooling, ventilation, and smoke extraction. For details visit https://climagal.com.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
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SOURCE Dalrada Financial Corp.