The company was formed in February 2011 as a spin out from Highview Power Storage. Highview is focused on the development of a large scale (10s of MWs) energy storage process that integrates a liquefaction plant and turbine based power recovery system. The Dearman Engine technology addresses smaller scale applications.
In October 2011 the Dearman Engine Company closed a seed funding round (over-subscribed) to commence the due diligence, risk mitigation and project planning phase with Ricardo and the advisory team. In early 2012 the company will be looking to secure funding to support the next phase of the programme – sub-system optimisation and engine build.
The company has a small team focused on:
- Project/Contractor Management
- Business and Commercial Development
- Supply Chain Development
- IP Identification and Protection
- Project Funding through equity and grant routes
The main research and development function of the business is outsourced to Ricardo because of the depth of expertise they can bring to the project.
Ricardo and the Dearman Engine Company are supported by an advisory panel of academic experts from Loughborough, Brighton, Leeds and Queen Mary Universities and STFC, Rutherford Appleton Laboratory.