Shares in thermal energy company Enerji surged on news it will be collaborating with Perth-based technology firm Panorama Synergy to develop a hydrocarbon monitoring system.
Under the agreement, the two companies will incorporate Panorama’s LumiMEMS technology to develop sensors, which will measure and track toluene in Enerji’s high temperature Organic Rankine Cycle power systems.
The ORC systems have the potential to produce up to three times more electricity from the same quantity of input thermal energy.
They are the core powering unit of Enerji’s heat-to-power Opcon Powerbox system.
Enerji will make an initial $20,000 payment to Panorama, while each party will bear its own development costs.
In a statement, Enerji said the technology would allow it to harness a greater proportion of the estimated 30,382 petajoules per annum of currently untapped waste energy from global electricity generation.
Enerji chief development officer Colin Stonehouse said the company would be able to tap into a greater proportion of the amount of waste heat that came from producing electricity by adopting high temperature working fluids into Enerji’s heat-to-power systems.
“By utilising Panorama’s advanced sensing technology, we can potentially triple our electricity output, while leading the industry in developing new safety standards for handling hydrocarbons such as toluene,” Mr Stonehouse said.
“The agreement with Panorama also gives us scope to exclusively market and supply sensors for high temperature ORC powers systems globally, which are more advanced than anything available in the market today.”
Commercial terms of the agreement will be finalised once the projects are fully scoped.
Enerji shares were 25 per cent higher at 4 cents per share at 10am.
Panorama shares were also higher, up 4.7 per cent to 22 cents each.
