spark thermionics - haas school of business · spark thermionics + fuel better autonomy higher...

SPARK THERMIONICS

The OpportunityThere is a better way for converting heat to electricity

What if we could change this?...

…Into this?

…and unlock infinite opportunities

Thermionics can actually do this!

The TechnologySolid state heat to electricity conversion

How do thermionics work?

Heat

Cathode

Collector

Thermionic

Vacuum space

emission

Rejected heat

Electricalload

How is it different from thermoelectrics?

ZLoad

Heat source

Heat sinkI

p pnn

Current flows through material

Lower temperatures

Less efficient

225 725 1225 1725 (°C)

450 1350 2250 3150 (°F)

Thermoelectric ZT = 1

Typical Thermionic 2.0 eV

1.5 eV

1.0 eV

Why Now?Using microfabrication and vacuum gap to radically increase efficiency of thermionics

“I still think we will achieve 30% efficiency…”

– V.C. Wilson, General Electric Research (1968)

Daniel Riley, Ph.D. Jared Schwede, Ph.D.

Forgotten by NASA, revived by microfabrication

Low Maintenance

High Temperature

High Power Density

Scalable

Looking for markets…The real value of thermionics lies in uses where temperature, maintenance, scalability and weight are a constraint

Competitive technologies landscape

Solid state heat to electricity convertor

Heat to electricity convertor

Fuel to electricity convertor

Thermionics

Thermoelectics

Stirling engine IC engine

Steam turbine Gas turbine

Fuel cell

Effi

cien

cy %

0%

13%

25%

38%

50%

Cost $/W

0 1 2 3 4

Thermionics

Fuel Cell

Stirling engine

IC Engine

Steam turbine plantGas turbine plant

Low costHigh cost

High

efficiency

Low

efficiency


Large scale applicationsSmall scale applications

Thermoelectrics

Effi

cien

cy %

0%

13%

25%

38%

50%

Cost $/W

0 1 2 3 4

Thermionics

Thermoelectrics

Fuel Cell

Stirling engine

IC Engine


Low costHigh cost

High

efficiency

Low

efficiency



Down scalable to Watt

Effi

cien

cy %

0%

13%

25%

38%

50%

Cost $/W

0 1 2 3 4

Thermionics

Thermoelectrics

Fuel Cell

Stirling engine

IC Engine


Low costHigh cost

High

efficiency

Low

efficiency



No moving parts

Effi

cien

cy %

0%

13%

25%

38%

50%

Cost $/W

0 1 2 3 4

Thermionics

Thermoelectrics

Fuel Cell

Stirling engine

IC Engine


Low costHigh cost

High

efficiency

Low

efficiency



High temperature

Numerous potential applicationsMobile applications Stationary applications

Primary power

generation

High temperatur

e waste heat

recovery

scale scale

scale scale

Drones

Automobiles

Submarines

Mobile gensets

RocketsRemote heating Heavy industries

Micro-CHP CSPPower plants

Aircraft

Numerous potential applicationsMobile applications Stationary applications

✓ Need for power density✓ Easier to integrate ✓ Larger markets

Short term Longer term

Numerous potential applications

Primary power

generation

High temperatur

e waste heat

recovery

✓ High temperature

✓ Better economics ✓ Need for modularity

Short term

Longer term

Numerous potential applications

scale

Small scale (W to kW) Large scale (MW to GW)

✓ Need for scalability ✓ Need for low maintenance

✓ Larger markets

Short term Longer term

Most promising applicationsMobile applications Stationary applications

Primary power

generation

High temperatur

e waste heat

recovery

scale scale

scale scale

Drones

Automobiles

Submarines

Mobile gensets

RocketsRemote heating Heavy industries

Micro-CHP CSPPower plants

Aircraft

Most promising applicationsMobile applications Stationary applications

Primary power

generation

High temperatur

e waste heat

recovery

scale scale

DronesMicro-CHP

Power plants

The path to market

Short Term Long Term

Integration complexity

Drones

Micro-CHPPower plants topping cycle

Low

Hig

h

DronesPreparing for a new era

Challenge in drones: Low energy density of Li-ion battery

Solution: Spark Thermionics + Fuel ✓Better autonomy ✓Higher power ✓Potentially cheaper

Why?

FuelST Power Generation Unit

Batt

ery/

Fuel

tan

k w

eigh

t (k

g)

0

2.25

4.5

6.75

9

Autonomy (Mins)12:10:00 AM 12:27:30 AM 12:45:00 AM 1:02:30 AM 1:20:00 AM

BatteryFuel

Li-ion Battery: 12 mins Fuel + TEC: 60 mins

Enhancing autonomy

Market CategoriesRegion Type Application

North America Aerial Defense

Europe Ground Logistics & Warehouses

Asia Marine Agriculture & Field Ops

Rest Of World Other Surface Healthcare

Entertainment

Others

Market CategoriesRegion Type Application

North America Aerial Defense

Europe Ground Logistics & Warehouses

Asia Marine Agriculture & Field Ops

Rest Of World Other Surface Healthcare

Entertainment

Others

Liberal regulations

Energy density (energy/weight)

Autonomy

Logistics Drone Market Size Projections [US$MM]

$0

$5,000

$10,000

$15,000

$20,000

2020 2025 2030

ROWAsiaEuropeNorth America

Field Operations Drone Market Size [US$MM]

$0

$4,500

$9,000

$13,500

$18,000

2020 2025 2030

ROWAsiaEuropeNorth America

How much?By 2025…

1.4 m. units $22 bn. market

1.6 m. units $26 bn. market

Go-to market strategy Joint technology developmentRevenue

model• Co-develop ST power generation unit with industry drone manufacturers

Industry drone manufacturersPartnerships• Logistics Agricultural inspection Surveying &

mapping

Legislation & PerceptionRisks• Legislation around drone uses • Potential reluctance of drone manufacturers/users towards using fuel

Micro CHPEnhancing distributed energy generation

Internal Combustion Engine

Micro turbine Fuel Cell Stirling Engine

Thermionic CHP *potentially

Efficiency ˜30% ˜25% ˜45% ˜25% ˜30%

Installed Cost ($/

kW)$2,000 $3,000 $6,000 $8,000 <$1,000

Scalability10kW – 5 MW

30 kW – 250 kW

1 kW – 2 MW

<250 kW Any

Moving Parts? YES YES NO YES NO

Why? Small: less than 1 MW Micro: less than 5 kW

Competitive Efficiency

Lower Cost

Scalable

No Moving PartsFuel

Power Generation Unit

A $2.5 bn market in 202112.2% CAGR

Strong growth in the near future

Japan and Germany Best potential entry countries

Global small-micro CHP forecast ($million)

0

750

1500

2250

3000

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Japan Germany UK ROW

+500 MW in 2021 Capacity forecast for small/micro CHP

Go-to-market strategy CHP incumbentsRevenue model

• Sell thermionic converter to incumbent companies in the industry • Co-develop product with CHP manufacturers

Current CHP leadersPartnerships

RegulationRisks• Government support: FIT, tax credits, environmental regulation etc. • Spark Spread: Cost of electricity - Cost of fuel

Power plant topping cycleReducing our carbon footprint

Why thermionics for power plant topping cycle

Problem: High temperature of the combustion

Opportunity: Using thermionics (no moving parts) as a topping cycle to extract some energy and lower the temperature before the turbine

Higher efficiency and Lower CO2 emissionsLower cost

Combustion chamber

Compressor

Turbine

Fuel

Fresh air Exhaust gases

Huge constraints on the first blades (moving parts)Need temperature drop before entering the turbine

A $1,5b/yr market in the US only+ 140 GW

Additional conventional power plants needed in the US by 2040

+ 50 TWh/yr Additional power generation if thermionics were used as topping cycle for those new plants (+10%

efficiency)

+ $1.5b/yr Additional revenue for power producers

- 10 million tCO2/yr Avoided CO2 emissions at constant electricity

production

Cumulative Electric Power Sector Additions

AEO2015 Reference case

GW

0

40

80

120

160

2012 2015 2018 2021 2024 2027 2030 2033 2036 2039

Combined Cycle Combustion Turbine/Diesel

Source: Energy Information Administration

Go-to-market strategy Thermionics units manufacturerRevenue model

• Co-develop product with turbines manufacturers • Sell thermionics units to them

Gas and steam turbines manufacturersPartnerships

ComplexityRisks• Integration • Long time to market • Few very powerful potential clients

Path to successAiming at the right markets at the right time

Next Steps

Prototype 1.0 – 3.0

Prototype 4.0 – 5.0

Milestone Funding

Grant

Partnership

Partner Goal

Pilot Product Equity / Debt

Prove Features

Create Drone/CHP Prototype

Create commercial Pilot Product

2017

2020

2023

Victor

MBA Candidate

Gerardo

MBA Candidate

Kayo

MBA Candidate

Mitch

MS Mech. Engineering

Stephanie

Ph.D. Chemistry

Pol-Hervé

MBA Candidate

spark thermionics - haas school of business · spark thermionics + fuel better autonomy higher...

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