Exergy, an Italy-based specialist in Organic Rankine Cycle (ORC) systems for clean power generation, has been acquired by the Chinese group Tica, following an auction by the former owner Maccaferri Industrial Group.
Tica is a leading manufacturer of heating, ventilation and air conditioning (HVAC) solutions and a provider of thermal energy systems
The acquisition included Exergy’s assets with its headquarters and workshop near Milan, Italy, and a subsidiary in Turkey; the new company will operate under the trade name of Exergy International S.R.L.
According to the company’s reports, Exergy has approximately 450 MWe installed in its portfolio of ORC systems and the second largest geothermal binary fleet worldwide.
Plans are for Exergy to continue to design and manufacture its radial outflow turbine ORC and profit of product integration with Tica’s PureCycle small-scale ORC technology. The Group will offer systems starting from 280 kW units and reach up to 25 MW per turbine for higher temperature applications. At the same time Exergy’s presence in Europe will help developing Tica brands and products for the commercial HVAC industry in this market.
Tica is based in Nanjing, China, and has factories and R&D facilities in Tianjin, Guangzhou, and Chengdu. A joint venture signed in 2015 with with US-based United Technology Corporation (UTC) transferred the ORC business and PureCycle products to Tica. PureCycle is an ORC system suitable for power generation from low temperature waste heat and renewables.
Since the JV, Tica has built China’s first engineering demonstration center for ORC power generation and established an Academic Workstation and a National Postdoctoral Workstation committed to the research and development of ORC power generation, energy conservation and emission reduction technology.