Frost & Sullivan Recognizes MTPV Power Corporation as a Global Technology Leader for Its Breakthrough Waste Heat Conversion Solution

"MTPV has revolutionized the waste heat recovery market by introducing its core technology, micron-gap thermophotovoltaics, into its EBLADE™ Power Platform, which converts waste heat directly into electricity and provides end users with energy savings, emissions reductions, and clean, reliable power generation," said Chirag Rathi, Consulting Director at Frost & Sullivan.

The platform uses state-of-the-art photovoltaic semiconductors placed less than a micron away from an emitter—reducing energy loss between the emitter and receiver—and cost-effectively converting infrared light into electricity. Each EBLADE™ device uses semiconductor chips as its building blocks, and arrays of devices can be deployed to meet customer power needs. The solution's exceptional modularity allows end users to scale the platform to their needs, providing both a cost-effective and space-efficient solution. Unlike traditional heat engines that require a large infrastructure footprint, the EBLADE™ platform can be housed inside existing waste streams, such as exhaust tunnels, thermal oxidizers, and flares. This solution allows for easy retrofits that do not interrupt upstream processes. In addition, depending on the number of MTPV devices employed, the power output from the platform can generate multiple megawatts of electricity to create significant energy savings.

MTPV's EBLADE™ Power Platform is suitable for a spectrum of industries that would benefit from high-temperature waste heat recovery, such as glass, steel, and flaring from landfills, as well as refinery processes and drilling operations. The company is deploying commercial pilots today and anticipates full commercialization within the next 12 to 18 months and expects to be highly competitive in low-cost power markets within the first four to five years of commercial operation. MTPV can deliver power as a service in addition to product sales. In the glass production sector—a mature, highly commoditized space—the platform's ability to recover waste energy and the subsequent cost savings offer users a significant competitive advantage.

"MTPV's disruptive technology is the only commercialized high-temperature waste heat recovery solution on the market and is generating significant industry interest," said Rathi. "Looking ahead, MTPV's second generation technology targeting lower temperatures can be combined with its existing high-temperature (600-degrees or above) EBLADE™ platform, offering operators a compelling hybrid waste heat recovery solution."

"MTPV is honored to receive Frost & Sullivan's Technology Leadership Award for Global Waste Heat Recovery Solutions," said David Mather, President & CEO of MTPV Power Corporation. "Two thirds of the world's energy usage today is lost as waste heat, and MTPV's innovative approach to recovering that energy as clean electric power has compelling economic and environmental benefits."

Each year, Frost & Sullivan presents the Technology Leadership Award to the company that demonstrates uniqueness in developing and leveraging new technologies that deliver significant customer value.

Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About MTPV Power Corporation
MTPV is a clean energy semiconductor company using its breakthrough technology to harness the world's heat and convert it to electricity. For more information, visit https://www.mtpv.com.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.

Contact:
Samantha Park
P: 210.348.1001
F: 210.348.1003
E: Samantha.Park@frost.com

Colin Lacey
P: 512.246.1988
F: 512.246.1978
E: Communication@mtpv.com

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