Burning coal, natural gas, diesel, or fuel oil for everyday thermal needs (hot water, space heating, industrial steam, and power processes) accounts for more than 20% of all global greenhouse gases (GHG) emitted each year. As developed economies and industrial geographies, like India, China, and Southeast Asia, grow their means of production, there will be an ever-increasing call on fossil fuel-based boilers. Meanwhile, the underlying commercial, industrial, and power (CI&P) boiler market is slated to grow 5%-7% per annum over the next 10 years. Despite net-zero sustainability goals front and center for global political bodies, Fortune 1,000 corporations, and asset managers alike, there remains little progress in solving the issues of GHG emissions related to thermal energy needs.
Under-comprehended by most of the energy consumer public, steam is a pervasive energy medium in commercial and industrial applications (not to mention electricity production). For example, 37% of the fossil fuels burned by U.S. industry alone are burned to produce steam. All major industrial energy users devote significant proportions of their fossil fuel consumption to steam production: 57% for food processing, 81% for pulp and paper, 42% for chemicals, and 23% for petroleum refining, to mention a few. Eliminating emissions related to thermal energy needs is critical to achieve global net-zero goals. For example: A single 1-MWe coal-fired boiler (running at 100% capacity) produces the same emissions as 5,000 passenger vehicles per year.