Austrian company Cryoshelter GmbH has been awarded EUR 1.7 million (USD 1.9 million) under the European Commission’s Horizon 2020 program to further its design of a second-generation LNG fuel tank, with clear applications for heavy duty trucking. The Cryoshelter program fulfils current EU policy objectives to reduce CO2 and diesel particulates as well as expand the market and infrastructure for fuel alternatives to petroleum.
Available in over 1000 sizes due to its modular design, Cryoshelter LNG tanks are claimed to lower the total cost of ownership for truck operators by providing 30% more fuel capacity (adding 30% vehicle range), lower weight, increased hold time, and reduced maintenance due to greatly improved, long term stability of the insulation vacuum. A press release states these features address the most critical technical and economic concerns of the heavy duty truck sector and will revolutionize the commercial prospects for LNG as a fuel alternative to diesel in Europe, North America and elsewhere.
In a recent article published by the Styrian Business Promotion Agency (SFG), Matthias Rebernik, who founded Cryoshelter in 2008, says “This [technology] allows ranges of over 1,500 kilometers and refuelling times of a few minutes”.
Cryoshelter is at the final stage of research, development, and demonstration (Technology Readiness Level 6), now ready for the last destructive testing and field-testing, the precursor to full certification and market entry. “We have pre-market relationships with three types of target customers who have expressed strong interest in the Cryoshelter LNG tank: European truck manufacturers, natural gas vehicle (NGV) system suppliers, and LNG truck operators, all of whom are an integral part of the final testing and commercialization plan,” says Rebernik.
The proposed program is targeted for the H2020 IT.1-2014-2015 Small Business Innovation for Transport (Phase II) area. The EU funding will enable testing, certification and scaling up for competitively priced production volumes as well as increase production and sales staff in 2017. The company is currently seeking suitably qualified engineers.
Cryoshelter expects to achieve ROI rates of >60% and an EBIT margin of >17% after completing the Horizon 2020 project.
(Source: European Commission Community Reasearch and Development Information Services (CORDIS))
