Cowa receives 1 million francs from investors
The start-up Cowa, based in Technopark Lucerne, raised more than CHF 1 million in a first round of financing. The spin-off from the Lucerne University of Applied Sciences and Arts intends to further expand the production and sale of its storage solution for heat pumps.
In a first round of financing, Cowa Thermal Solutions AG has received over CHF 1 million from private investors and its own founders Remo Waser and Simon Maranda. According to an article on the startupticker.ch portal, the young company based in Lucerne’s Technopark wants to use the fresh capital to market its heating storage system for heat pumps on a larger scale.
The cleantech start-up is developing a heating storage system with capsules that contain environmentally friendly salts as a phase change material. A tank filled with the capsules can absorb three times more energy than a conventional water tank for heat pumps. According to the information, this makes a heating system less dependent on mains electricity. In addition, unlike batteries or rechargeable batteries, it does not use lithium.
The storage tank filled with Cowa capsules has been available from the building technology company Meier Tobler since April of this year. According to startupticker.ch, the additional costs for the Cowa product compared to conventional storage systems are quickly balanced out due to the energy density and longevity of 20 years.
In addition to further scaling on the domestic market, the company would like to expand to Germany soon. Initial talks with potential sales partners have already taken place.