The company won the category for ‘Innovation Leading to Investment’, in recognition of ability to attract investment for development of its clean-cold technology and to grow the business.
Dearman also won the overall ‘Inspirational Innovation’ award and was presented with the prize by Jo Johnson MP, minister of state for universities, science, research and innovation.
The awards aim to recognise examples of excellence among projects funded by Innovate UK.
Dearman technology has been developed to harness liquid nitrogen and deliver clean cold and power. Central to the company’s technology portfolio is the zero-emission Dearman Engine, which is powered by the expansion of liquid nitrogen.
The Dearman engine can be used in a range of applications – the most advanced of which, currently, is a zero-emission transport refrigeration system, undergoing trials with Sainsbury’s.
Future applications include a back-up power generator, an auxiliary power unit for trucks and buses, and a ‘waste heat’ hybrid drive system to reduce the fuel consumption of internal combustion engines in HGVs.
Toby Peters, founder and chief executive of Dearman (pictured with the minister), says: “Our accelerated timeline has been made possible with support from Innovate UK, from initial market studies, through to backing for R&D and now industrialisation and market engagement.
“We still have some way to go, but with ongoing government backing and visionary support from our investors, we are confident that Dearman can make a positive difference to both the environment and the economy.”