National Thermovoltaics

What National Thermovoltaics does

National Thermovoltaics (NTV) is a private Canadian clean-energy company, incorporated under Alberta law with operational headquarters in Phoenix, Arizona, that develops modular solid-state thermovoltaic (TVG) systems for converting industrial waste heat into electrical power. The company's core product is a first-of-a-kind thermovoltaic demonstration unit, built on patented novel material science and advanced engineering, that produced 5 kW net power at a 169°C temperature differential and subsequently reached 9.771 kW gross power at 9.25% gross thermal efficiency, with performance third-party witnessed by SGS in November 2022. The system features an industry-leading controls design, cyber security certification, tamper monitoring, and location tracking, and is positioned as a rapidly deployable, scalable alternative to historic thermoelectric technologies.

The company serves energy-intensive industrial manufacturers — including cement plants, steel mills, refineries, and automotive/EV plants — that generate substantial waste heat as a byproduct of operations and are seeking decarbonization pathways. Its go-to-market is direct enterprise B2B field sales, demonstrated through an upcoming deployment at one of the world's largest cement plants and Tesla-related imagery on its website. The revenue model combines hardware sales of thermovoltaic systems with potential technology licensing and royalties on its patented architecture.

National Thermovoltaics operates with 11-50 employees, maintains dedicated investor and partner portals, and is actively partnered with Advanced Thermovoltaic Systems on co-development. The company remains in pre-commercial stage: no revenue is disclosed, no funding rounds are reported, and the product line consists of a single demonstration unit validated at one test event in late 2022.

Name

National Thermovoltaics

Legal name

National Thermovoltaics

Website

https://ntv.tech

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

National Thermovoltaics develops modular solid-state thermovoltaic systems that convert industrial waste heat into electrical power, serving energy-intensive manufacturers including cement, steel, refinery, and automotive/EV plants via direct enterprise sales.

Ownership category

akta.pro rank

Headquarters

HQ city

Nisku

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain

Revenue model

1. Thermovoltaic Power Generation Systems: Sale of modular solid-state thermovoltaic systems for capturing waste heat and converting it to electrical power in industrial settings. Systems are deployed at customer facilities for ongoing power generation.
2. Technology Licensing: The company holds patents on its technology and may license its thermovoltaic solutions to industrial partners.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

National Thermovoltaics develops and sells modular solid-state thermovoltaic (TVG) power generation systems that convert industrial waste heat into electrical energy at megawatt scale. The systems are deployed at customer industrial facilities for on-site power generation, with patented novel material science enabling thermal efficiencies and scalability not previously achievable by historic thermoelectric technologies. Targeted at energy-intensive industries such as cement manufacturing, steel, refining, and automotive production.

Product overview

National Thermovoltaics offers a single unified product: modular solid-state thermovoltaic power generation systems that convert industrial waste heat into electricity. The flagship offering is the Thermovoltaic Demonstration Unit, a first-of-a-kind 5kW (scalable to 9.77kW) system designed for industrial applications. The technology features industry-leading controls design, cyber security certification, tamper monitoring, and location tracking. The system is characterized by its mobility, flexibility, versatility, unmatched density, and scalability compared to historic thermoelectric technologies.

Differentiator

Problem solved

Functional benefit

Products and services

• Modular Solid-State Thermovoltaic Power Generation System A modular solid-state thermovoltaic power generation system that converts industrial waste heat into electrical energy, producing 5-9.77 kW net/gross power at up to 9.25% gross thermal efficiency. Designed for deployment at large energy-intensive industrial facilities such as cement plants, steel mills, refineries, and automotive manufacturing plants. Features include industry-leading controls, cyber security certification, tamper monitoring, and location tracking.

Quantifiable outcome

• 5 kW Net Power at 169°C temperature differential achieved in Q4 2022
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Advanced Thermovoltaic SystemscoreStrategic or Co-development Partner · 22 November 2022Strategic partnership for the development and demonstration of thermovoltaic technology. National Thermovoltaics, in partnership with Advanced Thermovoltaic Systems, has been working to disrupt the alternative energy landscape. The partnership produced a record-breaking 5kW demonstration unit that surpassed Proof of Concept in November 2022.
• SGSminorOthers · 19 November 2022Third-party testing and verification partner that witnessed the record-breaking performance demonstration in November 2022. SGS provided independent verification of the 9.771 kW gross power output and 9.25% thermal efficiency during winter conditions.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Phononic: Phononic uses solid-state thermoelectric technology for cooling and refrigeration. Same underlying semiconductor heat-pump/heat-to-power physics as NTV, though applied to cooling rather than power generation.

Direct peers

• Alphabet Energy: Alphabet Energy developed thermoelectric generators for industrial waste heat recovery — a direct functional analogue to NTV's thermovoltaic system. It is frequently cited as a reference point for solid-state waste-heat-to-power startups.
• Marlow Industries (II-VI / Coherent): Long-established manufacturer of thermoelectric modules and devices used in heat-to-power and cooling applications. Comparable core technology base and customer industries as NTV.
• Evident Thermoelectrics: Evident (formerly GMZ Energy) manufactures thermoelectric modules and modules-based power generation products for waste heat recovery. Most direct functional peer to NTV's solid-state thermovoltaic approach.
• Ferrotec (USA) Corporation: Ferrotec manufactures thermoelectric modules and related thermal-energy components, including waste heat recovery solutions targeting industrial customers — closely comparable technology stack and vertical focus.

Broad incumbents

• Gentherm: Gentherm is a larger thermal management company using thermoelectric technology in automotive and industrial applications. Comparable underlying physics, broader product portfolio, and similar enterprise-customer footprint.
• ABB: ABB provides power and automation equipment used by industrial customers for energy efficiency and waste heat utilization projects. Indirect competitor and potential partner for integrating NTV systems into industrial sites.
• Energy Recovery, Inc. ERI designs and manufactures energy recovery devices and pressure exchangers that capture wasted energy in industrial processes. Closely analogous business model: monetizing wasted energy streams at industrial sites.
• Bloom Energy: Bloom Energy supplies solid-oxide fuel cell systems that provide on-site, non-combustion power for industrial and data center customers. Competes with NTV for industrial decarbonization capex and on-site power budgets.
• Siemens Energy: Siemens Energy supplies large-scale power generation equipment, including waste-heat-recovery and industrial power solutions. Relevant incumbent alternative for NTV's industrial customers evaluating on-site power technologies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/nthermovoltaics
• Facebookfacebook.com/nationalthermovoltaics
• LinkedInlinkedin.com/company/national-thermovoltaics
• Instagraminstagram.com/nationalthermovoltaics

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Thermovoltaics