Periodic Reporting for period 2 - Home of Cool (A novel environment-friendly limited space cooler for high volume food and beverage vendingindustries.)
Reporting period: 2018-05-01 to 2019-04-30
Nordic 24/7 Services Oy (https://www.homeofcool.com/) was founded in 2010 by our CEO Veli Eloranta. Veli has over 15 years experience in the Point Of Sales International Business and vending industry at management level. He worked in close relationship with biggest brand owners in the drink and food industry in Denmark, Sweden and Finland. According to our CEO Veli, the refrigeration industry is the most boring industry because no radical innovations occur. The technology is the same old concept, based on a compressor that compresses a liquid refrigerant. There were only incremental innovations in the liquid refrigerant to reduce the emission of Green House Gases, an initiative driven by new directives and laws. However, refrigerators/coolers are still the cause of millions of metric tons of waste every year due to the high rate of compressors breaking down and dumped in landfills.
The global commercial refrigeration equipment market was valued at $30Bn in 2014 and it is expected to reach $40Bn by 2020, with market forecasted to grow at a CAGR of 5.7%. The beverages refrigeration equipment is expected to witness the fastest growth (7.2% CAGR), due to the pull marketing strategies of large beverage companies favouring the promotion of their in-store brand presence through branded visi coolers. The market growth is driven by the growth of supermarket, hypermarket, restaurants, hotels and organised food retail chains. The competitive landscape is a Red Ocean – all organisations are offering the same boring features with very little differences in the type of refrigerant and quality of the materials used. Nevertheless, the industry players are not answering the real requests of the customers. Moreover, the coolers are not environment friendly!
Home of Cool™ is a unique environment friendly electronic cooler that uses a novel technology that completely replaces the compressor and refrigerant fluid. Our cooler has a lifetime that is at least five times larger than that of the compressor. Therefore, the greatest benefit of our cooler is that it is service free. Our coolers are 95% recyclable at End of Life. Moreover, our refrigerator elements take less than 8% of the total volume of the cooler (compressor is 30%). Hence, another benefit is that our coolers take 60% less space and are 70% lighter than the smallest compressor coolers available in the market. Other important benefits of our cooler are that it is vibration free and it is free from any chemical regulation since we have removed the fluid refrigerant. Furthermore, our coolers do not contain any flammable gases, hence certifications are by far lower than conventional coolers. All these benefits lead to huge cost savings in manufacturing and maintenance. Bottom line: our solution is green and gives our customers great benefits for a lower price!
The overall objective of the Phase 2 Project is to upgrade the TRL6 prototype into a commercially-viable market-ready TRL9 product and commercialise (Commercialisation and Business Activities) it in the international market.
The global commercial refrigeration equipment market was valued at $30Bn in 2014 and it is expected to reach $40Bn by 2020, with market forecasted to grow at a CAGR of 5.7%. The beverages refrigeration equipment is expected to witness the fastest growth (7.2% CAGR), due to the pull marketing strategies of large beverage companies favouring the promotion of their in-store brand presence through branded visi coolers. The market growth is driven by the growth of supermarket, hypermarket, restaurants, hotels and organised food retail chains. The competitive landscape is a Red Ocean – all organisations are offering the same boring features with very little differences in the type of refrigerant and quality of the materials used. Nevertheless, the industry players are not answering the real requests of the customers. Moreover, the coolers are not environment friendly!
Home of Cool™ is a unique environment friendly electronic cooler that uses a novel technology that completely replaces the compressor and refrigerant fluid. Our cooler has a lifetime that is at least five times larger than that of the compressor. Therefore, the greatest benefit of our cooler is that it is service free. Our coolers are 95% recyclable at End of Life. Moreover, our refrigerator elements take less than 8% of the total volume of the cooler (compressor is 30%). Hence, another benefit is that our coolers take 60% less space and are 70% lighter than the smallest compressor coolers available in the market. Other important benefits of our cooler are that it is vibration free and it is free from any chemical regulation since we have removed the fluid refrigerant. Furthermore, our coolers do not contain any flammable gases, hence certifications are by far lower than conventional coolers. All these benefits lead to huge cost savings in manufacturing and maintenance. Bottom line: our solution is green and gives our customers great benefits for a lower price!
The overall objective of the Phase 2 Project is to upgrade the TRL6 prototype into a commercially-viable market-ready TRL9 product and commercialise (Commercialisation and Business Activities) it in the international market.
All R&D, product development and commercialisation (piloting, marketing & branding, dissemination, customer development and IPR protection) activities have been completed successfully.
We have updated our Business Plan and Commercialisation Plan which set the strategy on how to exploit project results for commercialisation purposes.
We have updated our Business Plan and Commercialisation Plan which set the strategy on how to exploit project results for commercialisation purposes.
Progress beyond state of the art
Home of Cool™ is a unique environment friendly electronic cooler that uses a novel technology that completely replaces the compressor and refrigerant fluid. Our cooler has a lifetime that is at least five times larger than that of the compressor. Therefore, the greatest benefit of our cooler is that it is service free. Our coolers are 95% recyclable at End of Life. Moreover, our refrigerator elements take less than 8% of the total volume of the cooler (compressor is 30%). Hence, another benefit is that our coolers take 60% less space and are 70% lighter than the smallest compressor coolers available in the market. Other important benefits of our cooler are that it is vibration free and it is free from any chemical regulation since we have removed the fluid refrigerant. Furthermore, our coolers do not contain any flammable gases, hence certifications are by far lower than conventional coolers. All these benefits lead to huge cost savings in manufacturing and maintenance. Bottom line: our solution is green and gives our customers great benefits for a lower price!
Impact on the beverage and food industry
Our cooler has a positive impact on these industries that use branded coolers to promote their brand in retail stores. Home of Cool™ is space-saving, ecological (green), maintenance free, traceable and smart.
Impact on the environment
Our cooler is maintenance free, meaning that it does not generate annual waste in land fills due to repairs and disposal. Moreover, our cooler has a longer life-time, meaning that the cooler takes longer to get disposed of. In addition, when End of Life takes place 95% of its components can be recycled. Furthermore, our cooler is green because it does not use liquid refrigerants that are toxic or harmful to the environment such as HFCs and carbon dioxide.
Impact on society
Less waste means sustainable and greener living
Increase in employment. We need to expand to 80 employees by the third year.
Home of Cool™ is a unique environment friendly electronic cooler that uses a novel technology that completely replaces the compressor and refrigerant fluid. Our cooler has a lifetime that is at least five times larger than that of the compressor. Therefore, the greatest benefit of our cooler is that it is service free. Our coolers are 95% recyclable at End of Life. Moreover, our refrigerator elements take less than 8% of the total volume of the cooler (compressor is 30%). Hence, another benefit is that our coolers take 60% less space and are 70% lighter than the smallest compressor coolers available in the market. Other important benefits of our cooler are that it is vibration free and it is free from any chemical regulation since we have removed the fluid refrigerant. Furthermore, our coolers do not contain any flammable gases, hence certifications are by far lower than conventional coolers. All these benefits lead to huge cost savings in manufacturing and maintenance. Bottom line: our solution is green and gives our customers great benefits for a lower price!
Impact on the beverage and food industry
Our cooler has a positive impact on these industries that use branded coolers to promote their brand in retail stores. Home of Cool™ is space-saving, ecological (green), maintenance free, traceable and smart.
Impact on the environment
Our cooler is maintenance free, meaning that it does not generate annual waste in land fills due to repairs and disposal. Moreover, our cooler has a longer life-time, meaning that the cooler takes longer to get disposed of. In addition, when End of Life takes place 95% of its components can be recycled. Furthermore, our cooler is green because it does not use liquid refrigerants that are toxic or harmful to the environment such as HFCs and carbon dioxide.
Impact on society
Less waste means sustainable and greener living
Increase in employment. We need to expand to 80 employees by the third year.