The presented study has evaluated the possibility of commercializing a research project at the Royal Institute of Technologys (KTH) Department of Energy Technology (EGI) in Stockholm, Sweden, where a Stirling engine is used for renewable microscale power generation. The purpose of the study has been to evaluate the current market situation and future prospects by composing a business plan under the working name MicroStirling.
In the business plan a potential target group consisting of house owners, farming companies and small energy-intensive industries has been identified. The market is currently small but displaying tremendous possibilities and is likely to grow rapidly in coming years. By offering a unique, high quality product MicroStirling has a competitive edge; however, several risks threaten the success of the company. Market readiness and customer acceptance of the technology are significant market barriers.
Short term focus should be concentrated on technology development to prepare for pilot projects in 2013 and a market introduction in 2014. A future successful commercialisation of the technology is viable although further technical and business development is required to finalize a product ready for a market introduction.
Authors: Backman, Peter