Innovation exploitation report Essay Example | Topics and Well Written Essays - 2500 words

Innovation exploitation report - Essay Example The heat exchangers were mainly designed to extract heat energy from industrial waste but the grey water concept is to apply the same method to the waste water of the households. The company is looking forward to establish three modes of heat exchangers. The company needs to develop the heat exchanger, the connections, the sensors and the control system. Within a time span of three months - from June till the end of August - the company will develop and test heat exchangers and make them efficient enough to become a part of its main operations. The efficient system is crucial for acquiring significant market share. Adding the PVC coating gives additional efficiency plus it prevents contamination of clean water. With the help of a Gantt chart is scheduled for developing and testing the materials is included. The exact design that the company will manufacture will be protected by copyright laws and patents. The overall goal is to achieve efficiency by serving the customers’ need s and help contribute towards sustainable renewable energy systems. Waste heat from exhaust air, wastewater and refrigeration machinery can be used for space heating and hot water. Substantial amount of energy can be saved through this judicious use of heat exchangers (Harvey, 2006). The system has been in use successfully in various countries. For instance Herrera at al. (2003) showed with the use of just four heat exchangers in a complex in Mexico -a hospital, laundry, Sports Center with a swimming pool and a family healthcare unit – could save about 38% of thermal energy. A two-year independent study of heat exchanger systems installed in Britain’s houses observed a savings of 380 kWh and 500 kWh per person annually (AIMC4, 2014). The heat exchanger technology is being provided by LEED in the United States (Moore, 2013). The type of heat exchanger that the company is developing is very