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IIT Madras-incubated Wankel Energy Systems raises $1 mn to tackle industrial energy loss
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IIT Madras-incubated Wankel Energy Systems raises $1 mn to tackle industrial energy loss
IIT Madras-incubated Wankel Energy Systems raises $1 mn to tackle industrial energy loss
IIT Madras-incubated Wankel Energy Systems raises $1 mn to tackle industrial energy loss
UPDATED : செப் 24, 2025 08:06 PM
ADDED : செப் 24, 2025 08:08 PM
Chennai: IIT Madras-incubated deep-tech start-up Wankel Energy Systems has raised USD 1 million in a pre-seed funding round led by Shastra VC, with participation from strategic angel investors, to scale its patented steam energy recovery technology.
A spin-off from a Department of Science and Technology-backed research initiative, the start-up has developed the 'Phoenix Expander,' a rotary device that converts wasted steam pressure in process industries into clean power without altering existing plant infrastructure.
India's 45,000-plus industrial steam boilers generate 1.26 billion tonnes of steam annually, much of which passes through pressure-reducing valves (PRVs) that dissipate potential energy worth over ₹66,000 crore every year. Wankel's device captures this exergy, achieving payback in 6-24 months and saving industries up to ₹50 lakh per valve annually, besides cutting 180 tonnes of CO₂ emissions per unit.
“With three granted patents and 20+ trade secrets, Wankel is building not just a product but a technology platform,” said Dr. Sathya Menon, Group CEO, Wankel Energy Systems.
Prof. Satyanarayanan Seshadri, Co-founder and faculty at IIT Madras, said the Phoenix Expander “sets a new benchmark for industrial sustainability.” Shastra VC's founding partner Ashis Nayak called Wankel “one of the most technically rigorous and impact-aligned deep-tech startups” the firm has backed.
The start-up plans to deploy its first six units in Tamil Nadu before expanding nationwide and globally. Wankel was also the first Indian finalist at the MIT Climate & Energy Prize.