Kanin Energy
We help heavy industry monetize their waste heat and decarbonize their operations.
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Kanin Energy is a Foresight 50 2023 Honouree
We help heavy industry monetize their waste heat and decarbonize their operations.
Kanin’s objective is to decarbonize heavy industry through waste heat recovery, contributing carbon-free baseload electricity generation, and offsetting power produced from fossil fuels. Of all the energy produced and consumed to do ‘work at industrial facilities’, up to 58 per cent is lost often in the form of waste heat during industrial processes. Waste Heat to Power (WHP)WHP has many benefits including greenhouse gas reductions as the industrial sector accounts for one-third of global energy demand and 24 per cent of global greenhouse gas emissions. Heavy industry also requires large volumes of high-temperature heat generally produced by combusting fossil fuels.
WHP has several indirect benefits such as improved air quality, reduced energy costs and investment into local rural and remote communities. Kanin indirectly competes with other renewable and distributed energy technologies. Our offering is differentiated from these competitors because WHP generates reliable baseload electricity, in contrast to intermittent generation from wind and solar. High capital costs compared to core investments have prevented industrials from seeking waste heat to power solutions in the past, and by introducing third-party financing, industrials can deploy the technology without traditional capital cost hurdles. Kanin uses an innovative energy-as-a-service model, applying a similar approach to how wind and solar were able to scale successfully.
Kanin brings together technology, engineering, construction, and third-party capital to turn wasted heat energy into revenue for our industrial partners. While WHP is what we focus on today, we plan to roll out the platform to other decarbonization solutions like carbon capture, thermal storage, fuel switching, and industrial heat pumps.
Why our venture should be considered one of Canada’s 50 most investable cleantech companies.
Kanin Energy strives to decrease greenhouse gas emissions by targeting the heavy industry sectors that have been overlooked and are difficult to decarbonize. Kanin Energy’s technical team has over 14 years of experience developing, designing, and constructing successful waste heat to power systems. Projects include over 50 MW of Organic Rankine Cycle projects designed, developed, constructed, and currently operating in Western Canada and the Northeast US, with approximately 2 million MWh-hrs of electrical power production to date. Kanin Energy’s commercial team has over 13 years of experience related to the commercial developments of clean energy and WHP projects with over 1.3 GW of Organic Rankine Cycle projects scoped across North America. The team has also managed and negotiated over 70 MW of power projects in energy, capacity, and ancillary services markets.