Solex Thermal Science
Solex Thermal Science designs and manufactures custom indirect heat exchangers for heating, cooling, drying and energy recovery of bulk solids, serving industrial customers in fertilizer, oilseed, sugar, foundry, chemicals, polymers and energy-transition sectors across 50+ countries.
- Company typePrivate
- Founded1994
- HeadquartersCalgary, Canada
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Solex Thermal Science does
Solex Thermal Science, headquartered in Calgary, Canada, designs, engineers and manufactures high-efficiency indirect heat exchangers for heating, cooling, drying, conditioning and energy recovery of bulk solids. Its core technology is a proprietary vertical-plate moving-bed heat exchanger in which bulk solids flow by gravity between hollow stainless steel plates while heating or cooling water flows counter-current through them, eliminating air as the heat transfer medium and delivering up to 90% lower energy consumption versus direct methods. The portfolio spans heating (up to 700°C), cooling (up to 2,000°C), drying and conditioning units, plus heat-pipe heat exchangers (HPHE) for waste heat recovery added through the 2023 acquisition of Econotherm Ltd. Each unit is custom-designed using proprietary ThermaPro Quantum thermal modeling software.
Solex serves industrial enterprises across fertilizer, oilseeds, sugar, foundry sand, chemicals, polymers, minerals, cement, biosolids, and increasingly the energy-transition vertical (industrial waste heat recovery, concentrated solar power, carbon capture). The customer base includes Cargill, Bunge, ADM, BASF, Glencore, NASA, Michigan Sugar, Azomures, Compass Minerals, Waupaca Foundry and others. The company has installed more than 1,300 units in 50+ countries.
The business model is enterprise direct sales with quote-based custom equipment pricing, supported by a global agent network, regional offices in Calgary (HQ), Haaksbergen (EMEA), Sao Paulo (LATAM) and Bridgend (UK R&D), and a full technical-service wrap including lab/pilot testing, engineering studies, start-up, training, retrofitting and spares. The company is private, owned by European investment firm Anders Invest following its 2022 acquisition, and has 51-100 employees.
Solex Thermal Science firmographics
Firmographics- Name
- Solex Thermal Science
- Legal name
- Solex Thermal Science Inc.
- Website
- https://solexthermal.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Solex Thermal Science designs and manufactures custom indirect heat exchangers for heating, cooling, drying and energy recovery of bulk solids, serving industrial customers in fertilizer, oilseed, sugar, foundry, chemicals, polymers and energy-transition sectors across 50+ countries.
- Ownership category
- akta.pro rank
Solex Thermal Science industry classification
Industry- Product category
- Industrial Heat Exchangers
- NAICS
- Power Boiler and Heat Exchanger Manufacturing (33241), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)
- SIC
- Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Industrial Process Furnaces & Ovens (3567)
- akta.pro primary industry
- Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)
- akta.pro secondary industry
- Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers) (EUABAJAF)
Keywords
Where Solex Thermal Science is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
Solex Thermal Science business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Heat Exchanger Equipment Sales: Solex designs, manufactures, and sells custom high-efficiency indirect heat exchangers for industrial bulk solids processing applications. Each unit is custom-designed based on customer's thermal performance requirements using proprietary modeling software. Equipment includes heaters, coolers, dryers, and conditioners.
- Technical Services and Support: Comprehensive service offerings including start-up and commissioning assistance, personnel training, performance evaluation, equipment optimization, retrofitting and upgrades, and custom stainless steel fabrication services.
- Waste Heat Recovery Solutions: Following the acquisition of Econotherm, Solex now offers heat pipe heat exchangers for waste heat recovery applications, helping industries capture and repurpose thermal energy that would otherwise be lost.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom Equipment and Solutions |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Solex Thermal Science product offering
Product offeringCore offering
Solex Thermal Science designs, manufactures, and sells custom high-efficiency indirect heat exchangers for the heating, cooling, drying, and energy recovery of bulk solids, liquids, and gases. Its core technology uses vertical plate heat exchangers where bulk solids flow by gravity between hollow stainless steel plates while heating/cooling water flows counter-current, eliminating the need for air as a heat transfer medium. The company also offers heat pipe heat exchangers for waste heat recovery and ThermaPro Quantum thermal modeling software for custom design.
Product overview
Solex Thermal Science offers a unified portfolio of indirect heat exchange technology for bulk solids, liquids and gases. The core offering consists of vertical plate-based moving bed heat exchangers (MBHE) for heating, cooling, drying and conditioning applications, along with heat pipe heat exchangers (HPHE) acquired through Econotherm for waste heat recovery. Products include heating technology (up to 700°C), cooling technology (up to 2,000°C), drying technology, and vertical plate conditioning technology. The company also provides ThermaPro Quantum software for thermal modeling and custom design. These products share common vertical plate technology foundations and are applied across diverse industries including fertilizer, oilseeds, sugar, foundry sand, polymers, chemicals, cement, metals, and energy transition applications.
Differentiator
Problem solved
Functional benefit
Brands
- Econotherm: UK-based waste heat recovery technology brand retained after acquisition, specializing in industrial energy solutions for decarbonization
Products and services
- Heating Technology Heat exchanger systems that heat bulk solids up to 700°C using water, steam, air or thermal oil, with guaranteed thermal performance and the ability to use recovered energy. Used by industrial processors across fertilizer, oilseeds, minerals and chemicals sectors.
- Cooling Technology Indirect heat exchange systems that cool bulk solids from up to 2,000°C using water or air, with near-zero emissions and opportunities for waste heat recovery and reuse. Applied in sugar refining, fertilizer production, foundry sand, and other bulk solids cooling applications.
- Drying Technology Ultra-efficient bulk solids drying systems that eliminate product loss and contamination while reducing primary energy consumption, leveraging vertical plate indirect heat exchange to dry materials without air contact.
- Vertical Plate Conditioning Technology Vertical plate conditioning systems that heat and dry oilseeds (rapeseed, soybeans) to prescribed temperatures and moisture levels prior to oil extraction, with waste heat recovery capabilities.
- Moving Bed Heat Exchangers (MBHE) Plate-based moving bed heat exchangers using vertical plate technology for indirect heating, cooling and drying of bulk solids with high thermal efficiency. The foundational product family on which Solex's other offerings are built.
- Heat Pipe Heat Exchangers (HPHE) Proven heat pipe heat exchangers for complex heat recovery from particle-laden air streams discharged from direct-fired rotary and fluidized bed dryers, suited to automotive, metals, and power generation industries. Acquired through Econotherm Ltd.
- ThermaPro Quantum Proprietary thermal modeling and design software used to custom design each heat exchanger to meet unique thermal performance requirements of customers. Supports guaranteed thermal performance for every Solex installation.
- Service & Support Comprehensive service offering including start-up and commissioning assistance, personnel training, performance evaluation, equipment optimization, retrofitting and upgrades, spares and replacement parts, and custom stainless steel fabrication.
Quantifiable outcome
- Energy consumption reduced by up to 90% compared to direct heating methods
- +5 more outcomes
Companies that use Solex Thermal Science
Customer profileNamed customers14 records
Segments7 records
Ideal customer profiles6 records
Solex Thermal Science technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Solex Thermal Science partnerships and signals
Strategic signalScale indicators8 records
Recent moves6 records
Expansion highlights6 records
Solex Thermal Science competitors and assessment
Company assessmentDirect peers
- Tranter (a Chart brand): Producer of gasketed, brazed, and welded plate heat exchangers used in industrial heating, cooling, and energy recovery applications. Direct peer in plate-based heat exchange technology, but oriented more toward liquid-to-liquid duties than Solex's bulk solids focus.
- API Heat Transfer: Manufacturer of heat exchangers (plate, shell-and-tube, air-cooled) and thermal management products for industrial and process applications. Direct peer in custom industrial heat exchange equipment, though smaller in scale and with less focus on bulk solids.
- Kelvion: Specialist industrial heat exchanger manufacturer (formerly GEA Heat Exchangers) offering plate, shell-and-tube, and air-cooled designs across power, chemicals, oil & gas, and bulk solids. The closest direct competitor to Solex in custom-engineered industrial heat exchange equipment for process industries.
Broad incumbents
- Chart Industries: Specialty industrial equipment provider (formed via merger with SPX Heat Transfer / Howden) serving cryogenic, petrochemical, and process heat exchange markets. Comparable to Solex in process heat equipment but with a far larger portfolio and different end-market mix.
- ANDRITZ Separation: Global supplier of process equipment including separation, drying, and thermal systems for fertilizer, chemical, food, and environmental industries. Comparable to Solex in serving bulk solids processing industries with thermal/drying solutions, though at significantly larger scale.
- Alfa Laval: Global industrial leader in heat transfer, separation, and fluid handling, including a broad portfolio of heat exchangers (plate, shell-and-tube, brazed). Overlaps with Solex in industrial process heat exchange, but Alfa Laval serves a much wider set of industries and customer types than Solex's bulk-solids niche.
- GEA Group: Major supplier of equipment and process technology for food, dairy, fertilizer, and chemicals, with an extensive heat exchanger business serving bulk solids applications. Comparable to Solex in target verticals (sugar, fertilizer, dairy) but at much larger scale and with broader process-line offerings.
- Wessels Company (Xylem): Manufacturer of pressure vessels, heat exchangers, and fluid handling products serving HVAC, industrial, and commercial markets through Xylem's portfolio. Overlaps with Solex in industrial heat exchange equipment but with a broader, more commoditized product line.
Regional players
- Schmidt-Brettén (BÜSSER / FUNKE): German-based manufacturer of industrial plate heat exchangers with strong presence in Europe. Comparable to Solex in plate heat exchange technology but primarily serves European chemical, HVAC, and power markets rather than bulk solids processing.
Others
- Econotherm (subsidiary of Solex): UK-based specialist in heat pipe heat exchangers for industrial waste heat recovery, now wholly owned by Solex. Provides internal benchmarking on HPHE technology for particle-laden air streams, complementing Solex's vertical plate MBHE core.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Solex Thermal Science social profiles
Digital presenceSolex Thermal Science financial estimates
Financial estimateRevenue estimate
Valuation estimate
Solex Thermal Science leadership team
Management profileNumber of profiles
Profiles12 records
Solex Thermal Science subsidiaries and ownership
Company hierarchySubsidiaries1 record
Solex Thermal Science funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Solex Thermal Science M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Solex Thermal Science
What does Solex Thermal Science do?
Solex Thermal Science designs, manufactures, and sells custom high-efficiency indirect heat exchangers for the heating, cooling, drying, and energy recovery of bulk solids, liquids, and gases. Its core technology uses vertical plate heat exchangers where bulk solids flow by gravity between hollow stainless steel plates while heating/cooling water flows counter-current, eliminating the need for air as a heat transfer medium. The company also offers heat pipe heat exchangers for waste heat recovery and ThermaPro Quantum thermal modeling software for custom design.
Is Solex Thermal Science a public or private company?
Solex Thermal Science is a private company. It is classified as private equity controlled and is currently operating.
When was Solex Thermal Science founded?
Solex Thermal Science was founded in 1994. It employs 51 to 100 people.
Where is Solex Thermal Science based?
Solex Thermal Science is headquartered in Calgary, Canada, in the North America region.
How does Solex Thermal Science make money?
Three revenue lines are on record. Heat Exchanger Equipment Sales are the primary driver. The others are technical Services and Support and waste Heat Recovery Solutions.
Who are Solex Thermal Science's main competitors?
Direct peers on record are Tranter (a Chart brand), API Heat Transfer and Kelvion. Broad incumbents are Chart Industries, ANDRITZ Separation, Alfa Laval, GEA Group and Wessels Company (Xylem). Schmidt-Brettén (BÜSSER / FUNKE) is listed as a regional player. Econotherm (subsidiary of Solex) is listed as an others.
Does Solex Thermal Science have an API?
No public API is recorded for Solex Thermal Science.
What industry is Solex Thermal Science in?
Solex Thermal Science's product category is Industrial Heat Exchangers. Its primary akta.pro industry code is IMAHAEAC, Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers), with a secondary code of EUABAJAF, Waste Heat Recovery & Heat Integration (HRSG/ORC, Pinch Analysis, Heat Exchangers). Its NAICS code is 33241 and its SIC code is 3585.