Haydale, (AIM: HAYD), the global advanced materials group, is pleased to announce that it has signed an Exclusive Supply Agreement (“The Agreement”) to produce a thermal fluid for High Tech Systems Ltd (“High Tech Systems”) over an initial three-year period.
Working in collaboration with High Tech Systems, Haydale will use its patented plasma functionalisation technology to enhance the thermal conductivity and dispersion of boron nitride in thermal fluid applications. By enhancing the thermodynamic properties of water, Hi-Therm® can significantly reduce the energy required to heat buildings, both domestic and commercial.
An estimated three million households in the UK are thought to be struggling to afford their current energy bills and this number is only expected to increase with the predicted energy price cap rise in April this year. High Tech Systems’ patented thermal fluid, Hi-Therm®, aims to transform the domestic and commercial heating sectors by substituting commonly used water in the radiators with Hi-Therm® in both existing and new build heating system applications.
Hi-Therm® heats up quicker and offers up to 55% more heat transference than the water currently used in typical heating systems, so by installing Hi-Therm® it is possible to reduce carbon emissions and offer significant fuel savings to millions of domestic and commercial buildings in the UK and beyond. While demand will depend on the speed of roll out, High Tech Systems have committed to an up-front purchase of £60,000 of functionalised boron nitride fluid.
Keith Broadbent, Haydale CEO, said: “Reducing the carbon footprint and developing efficient technologies is at the forefront of innovation currently. Haydale with its plasma functionalisation technology is leading the way, and this Agreement represents a significant step forward in the commercialisation of thermally efficient nanomaterials in the energy sector. We look forward to working with High Tech on production for the domestic and commercial heating markets.”
Vince Rice, High Tech Systems CEO, said: “We are incredibly excited to be working alongside Haydale in bringing Hi-Therm® to market. We are confident Hi-Therm® will play an important role in the UK in helping combat carbon emissions and significantly reduce energy bills in both domestic homes and commercial properties, especially when we are coming into a time of significant uplifts in energy costs. We are very proud that Hi-Therm® has been developed in the UK and, through our partnership with Haydale, it will also be manufactured in the UK.”