Dearman is to receive a £2m investment from Coast to Capital (C2C) via its ‘Growing Places Fund’.
C2C is the Local Enterprise Partnership for the South East and includes the Croydon area, the location of the new Dearman Clean Cold Technology Centre. C2C has committed this financial support, in recognition of Dearman’s potential to deliver growth and employment opportunities for the local area by rapidly bringing its revolutionary cold and power technology to market.
Toby Peters, CEO of Dearman, said, “Dearman is at the forefront of developing cutting-edge clean cold technology and Coast to Capital is showing great foresight in supporting us. As a growing company, we will deliver local jobs, international exports and global environmental benefits. The UK has a unique opportunity to lead the emerging ‘cold economy’; Dearman is at the heart of this new industrial sector; and Coast to Capital is playing an important role in making our vision a reality.”
Today’s announcement comes soon after news that Dearman has begun extended testing of its zero-emission cold and power technology at its new R&D facility in Croydon ready for commercial field trials later this year. The majority of Dearman’s 50-strong staff are employed at the site, which is the first R&D facility of its kind.
Dearman is developing innovative, zero-emission technologies to deliver clean cold and power. At the heart of the Dearman technology portfolio is the Dearman engine – a novel piston engine that harnesses the rapid expansion of liquid air (or liquid nitrogen) to produce zero-emission power and cooling for a range of applications, including transportation, buildings and food distribution.
Dearman’s zero-emission transport refrigeration system is currently undergoing on- vehicle trials, will enter commercial trials later this year, and will begin multi-location trials next year.