Dearman, the clean cold technology company, fought off competition from some of the UK’s most exciting innovators and cutting edge companies to win two awards at the annual Innovate UK SME Innovation Awards, held at the Houses of Parliament.
The company was presented with the ‘Innovation Leading to Investment’ award in recognition of the company’s success in attracting investment to develop its game changing clean-cold technology and grow the company.
Dearman went on to be presented the overall ‘Inspirational Innovation’ award by Jo Johnson MP, Minister of State for Universities, Science, Research and Innovation.
The SME Innovation Awards aim to recognise examples of excellence among projects funded by Innovate UK. The ceremony recognised projects and companies that demonstrate the impact of innovation on business growth and driving the economy, which can in turn inspire others.
Dearman technology has been developed to harness liquid nitrogen and deliver clean cold and power. At the heart of the company’s technology portfolio is the revolutionary zero-emission Dearman Engine, which is powered by the expansion of liquid nitrogen rather than polluting petrol or diesel.
The Dearman engine can be used in a range of applications, where it provides an efficient, cost effective and high performance alternative to fossil fuels. The most advanced application of the technology is a zero emission transport refrigeration system, which has been developed in partnership with Hubbard Products and Air Products, and is currently undergoing trials with Sainsbury’s.
Future applications, which are also in development through a combination of private investment, Innovate UK and partner funding, include a back up power generator, an auxiliary power unit for trucks and buses and a ‘waste heat’ hybrid drive system to reduce the fuel consumption of internal combustion engines in HGVs.
Toby Peters, Founder and Chief Executive of Dearman said: “For innovation to have impact, eureka moments must be turned into commercial realities. Our climate challenges are enormous and urgent and we need to develop technologies which will radically reduce the environmental impact of our lifestyles. This process also needs to happen quickly – we need to compress the timeline between invention and global deployment.
“Dearman is on track to move from a radical idea, to hitting the market with our first game changing product, which will have a tangible positive environmental impact. Our accelerated timeline has been made possible with support from Innovate UK, from initial market studies, through to backing for R&D and now industrialisation and market engagement. We still have some way to go, but with ongoing Government backing and visionary support from our investors, we are confident that Dearman can make a positive difference to both the environment and the economy.”
Innovate UK Chief Executive Ruth McKernan said: “Our small business awards showcase the stories behind some of the excellent new innovations that Innovate UK helps to get closer to market every year. They also help Parliamentarians see how vital business-led innovation is to growing the economy and any industrial strategy. I congratulate all the nominees and winners.”
The awards were presented on the 25 October by Jo Johnson MP and Chief Executive of Innovate UK, Dr Ruth McKernan, in the House of Commons.
Since 2007 Innovate UK has invested around £1.8 billion in innovation, which has been more than matched by the private sector – returning up to £13.1 billion to the economy. Innovate UK has supported innovation in 7,600 organisations, creating around 55,000 new jobs – more than 7 for each company we have worked with.
For further information please contact:
Ben Heatley, Head of Corporate Communications, Dearman
T: +44 (0) 203 617 9170
M: +44 (0) 755 7944 230