An Extraordinary Year
2024 has been a year of remarkable progress for Oxhy, marking a milestone in our journey to revolutionize Energy Harvesting. This article highlights the achievements made over the year, the technological advancements and the future prospects that continue to drive us toward our vision: transforming the invisible energy of infrared radiation into tangible opportunities for a more sustainable energy future. The full Progress Report is available for download here.
Technological Progress
Innovation lies at the heart of everything we do and 2024 has seen significant advancements in the development of our groundbreaking technology, Oxhycell. Through our unwavering commitment to R&D, we have achieved important milestones:
- Miniaturization: We reduced the size of the Oxhycell to just 20 mm³ per cell, moving closer to the milestone of 1 mm³ while maintaining high efficiency and stability.
- Development of Modular Prototypes: The first prototype of the “Oxhy Modular Set” has been completed, integrating our PowerCore to power ALS sensors and other target applications.
- Testing and Validation: Preliminary results show that our technology is ready to be adapted for multiple use cases, both consumer and industrial, with performance comparable to other power solutions.
Market Traction
Thanks to our efforts to attract the attention of key stakeholders, we have begun positioning Oxhy in the Energy Harvesting market. Key highlights include:
- Over 540 expressions of interest received from consumers, investors, companies, and strategic partners.
- 4 letters of intent already signed with leading companies, demonstrating confidence in the potential of our technology.
- A growing commercial pipeline, aiming to launch the first pilot projects by 2025.
These results represent the first step toward significant penetration in target sectors such as microelectronics, energy recovery from industrial processes, and IoT.
Financial Development
Our technological and commercial progress has been made possible through the support of our investors and access to strategic funding. Key highlights include:
- Completion of the first phase of the pre-seed round, with €1 million raised, allocated to R&D, prototyping, and technology validation.
- Approval of our Smart&Start application, providing over €419,000 in facilitated funding to accelerate our development plan.
- Reporting of the Campania Startup project, which funded our modular demonstrator.
These achievements strengthen our financial roadmap and position us to successfully launch the second phase of funding, officially beginning in January 2025.
Team Growth and Collaborations
2024 has also been a year of growth for our team. We have attracted international talent and initiated collaborations with leading universities and research centers, including the University of Naples Federico II, where we co-financed an industrial doctorate. These efforts enhance the scientific and engineering expertise required to accelerate the development of Oxhycell.
Looking Ahead
With 2025 on the horizon, Oxhy is gearing up for an even more dynamic phase:
- Technological Objectives: Achieve TRL 6 for Oxhycell, implement the first pilot projects, and engineer industrial prototype production processes.
- Commercial Expansion: Broaden our partnership network and launch a go-to-market strategy for key applications.
- Social and Environmental Impact: Continue driving sustainable innovation, reducing the ecological footprint of traditional power solutions, and promoting non-invasive technologies.
A Thank You to Our Partners and Investors
Every milestone achieved in 2024 is the result of a shared vision and the continued support of our investors and partners. We are excited to continue this journey together, building a future where the invisible energy of infrared becomes an accessible, sustainable, and transformative resource. If you’d like to learn more or join us in this energy revolution, contact us and discover how you can make a difference with Oxhy.
