Biobased Heat Transfer Fluid

Closer to market with alternative use of product

In this project, Biobase Sweden AB has carried out a techno-economic analysis for a type of water-based heat transfer fluid that can be produced from renewable resources. The conclusion is that the company should first strive to enter the market with a product that can be used in other applications than as a heat transfer fluid.

Biobase Sweden AB is a startup that since 2019 has been developing completely new types of patentable, bio-based chemicals that can replace many fossil-based products, which are used in various industries with a large negative climate impact.

The need for Heat Transfer Fluids (HTF) exists all over the world, not least in the process industry, energy systems and vehicles. Competing solutions are based on mineral oil, synthetic fluids and glycol; all of them have a significant negative effect on the environment.

In this project, the company, together with RISE, has carried out a techno-economic analysis to establish that the company’s technology can be translated into a new product with significant environmental benefits – a green alternative to glycol.

The conclusion from the completed project is that Biobase Sweden AB should first focus on getting started with manufacturing the product for placement on the market in other applications than as a heat transfer fluid. Markets for the product’s use in other applications have been identified as easier to enter in a shorter perspective (1-2 years). Within these areas, the company has already established market channels and can quickly reach end-customers through the distributors that the company works with for its entire product range. This initial strategy gives the company an opportunity to motivate its investors to finance start-up of manufacturing in Sweden of this new bio-based product, and then devote more time and resources to a niche market introduction in the field of heat transfer fluids both in Sweden and for export.

The intention is to start manufacturing the product in the spring of 2024 and work further on market introduction in several application areas.