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Dearman technologies
Dearman is developing a suite of zero-emission technologies, powered by the expansion of liquid air or nitrogen
About Dearman technologies
Dearman Engine Company Limited operated as a technology firm centered on developing clean 'cold and power' solutions. The company was founded in 2011 by Toby Peters, Michael Ayres, and Jeremy North to commercialize an engine invented by Peter Dearman in his home garage. Peter Dearman, a lifelong engineer with a background in the rail industry, conceived of a piston engine that runs on the expansion of liquid air or nitrogen, drawing inspiration from steam engine principles but without the fossil fuels. His key insight was to inject a heat exchange fluid, like antifreeze, into the cylinder to enable a more efficient, near-isothermal expansion of the cryogenic fluid.
The core of the business was the Dearman Engine, a novel piston engine that harnessed the rapid expansion of liquid nitrogen when vaporized to generate mechanical power and, as a byproduct, significant cooling. The process involved injecting liquid nitrogen into a cylinder, where it mixed with a recycled heat exchange fluid, causing it to boil and expand to over 700 times its liquid volume, driving a piston to produce shaft power. This process was free of point-of-use emissions, releasing only clean air back into the atmosphere. The company's business model focused on developing and licensing this technology for various applications, targeting industrial clients seeking to lower operating costs and emissions.
The primary product developed was a zero-emission Transport Refrigeration Unit (TRU). This unit replaced conventional diesel-powered refrigeration systems on trucks, which are a major source of fuel consumption, noise, and pollutants like NOx and particulate matter. The Dearman TRU used the intense cold from the vaporizing liquid nitrogen for about two-thirds of its cooling capacity, while the engine's power drove a conventional vapor compression refrigeration cycle for the remainder, and powered ancillary systems like fans. This dual-use made it highly efficient, offering faster temperature pull-down times and quieter operation compared to diesel units. The company partnered with Hubbard Products to develop and bring these TRUs to market, initiating commercial trials with major retailers like Sainsbury's, Marks & Spencer, and Unilever. Other potential applications being explored included auxiliary power for buses and backup power generators for buildings.
Despite raising over £10.5 million in private equity and receiving grants from Innovate UK, the company faced financial difficulties. In late 2019, Dearman Engine Company Limited entered administration due to cash-flow issues and significant debt accrued during its development phase. The business and its assets were subsequently sold in early 2020.
Source: Dealroom company dataAt a glance
- Status
- Closed
- Founded
- 2011
- Headquarters
- London, United Kingdom
- Employees
- 14
- Open positions
- None listed
- Dealroom signal
- 0.0/100
- Industry
- Energy, Semiconductors
- Sector
- Energy, Sustainable Development Goals, Cooling Tech, Climate Tech, Semiconductor Designers and Manufacturers, uk is8 digital and technologies
- Business model
- Manufacturing
- Client focus
- b2b
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| GRANTOther financing | Aug 2017 | $0 | — | Engineering and Physical Sciences Research Council · Advanced Propulsion Centre UK | ↗ |
| EARLY VC✓Equity / VC | Jan 2016 | $21M | $84M | Park Vale Capital | — |
Growth signals
Latest recorded traffic for Dearman technologies is 280 monthly website visits, up 115.4% over the last three months. Dearman technologies's team grew 27.3% over the past year.
Similar companies
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed2 investors entered at this stage
Engineering and Physical Sciences Research Council
Advanced Propulsion Centre UK
Series A1 investor entered at this stage
Park Vale Capital
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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