Temporal Power receives investment of half a million dollars
It was recently announced that Temporal Power received $500 000 in financing from the Investment Accelerator Fund (IAF), a government funded program that is delivered by MaRS DD. IAF provides qualifying companies with capital to bring innovations in advanced materials and manufacturing, IT, clean technology and life sciences to market.
Temporal Power is a company based in Mississauga, Ontario, that develops electrical energy storage systems for highly demanding applications. What distinguishes the company from its competitors is its revolutionary flywheel technology. Traditionally, flywheel systems have been used as a short term energy back up. The Temporal flywheel energy storage (FES) system, however, is able to hold fifty times as much energy as most commercial systems currently available on the market.
The system has flexible power capacity and can be configured to deliver anywhere between 10 kW to 500 kW of energy for hours at
a time. With an extremely low stand by loss, the FES system can continue to deliver power for more than 10 hours with less than a 5% energy loss. In comparison, most commercial flywheels will self deplete in 20 minutes to seven hours.
Temporal also offers the lowest rates on the FES system while making sure that it has a life cycle of more than twenty years. A flywheel system with this much power has provided a solution to the challenge of accommodating the variability of renew able power generation. Temporal has modernised the electrical grid system by making effective use of wind and solar energy. The FES system is essentially able to store energy from renewable resources, such as wind farms, and then release it as electrical energy when needed.
The RIC Centre has been involved with Temporal Power prior to the company’s inception. Through the Entrepreneurs-in-Residence program, RIC has provided the company on numerous fronts, including market intelligence and facilitating new business introductions. According to Cam, “RIC Centre is a great resource for facilitating important introductions. In fact, RIC provided the initial connection to my business partner Jeffrey Veltri who at the time was developing flywheel prototypes. Today our company, Temporal Power, is preparing to deploy that game changing technology to enhance renewable power generation and support the development of the smart grid.”
As a significant part of the world’s electricity is generated from renewable sources, RIC Centre is working with innovative companies like Temporal Power, to help make a difference in the way we store and use energy.