Laminera Flow Optimization

General Information
Business:

(Note: This is an Israeli company’s IPO of units.)

We are a deep-tech development stage company that aims to disrupt fluid transportation. We are committed to improving and optimizing the global infrastructure of water, oil and gas pipeline transportation by reducing energy costs, maintenance costs, and enhancing capacity without having to replace infrastructure. Our energy efficiency technology is unique in its ability to suppress turbulence by continuously generating low-frequency pressure waves, which achieves minimal hydrodynamic resistance for the pipeline transport process. As a result, friction losses within the pipeline are reduced. Following a proof of concept industrial test in 2015 of the pressure waves generator, or PWG, that was shown to decrease specific energy consumption by 35% for approximately five minutes, we believe that our current prototype in development will have the potential to reduce pump energy consumption significantly.

Pipe transportation technology is based on the universal conservation law of mass, impulse, and energy of fluid flow. In order to start the flow, energy is required to pump the liquid into the pipes. A significant amount of energy is spent maintaining the flow. One of the major energy loss factors in pumping and fluid transportation is determined by turbulent friction in the pipeline flow. This is also known as the turbulent friction loss, or head loss or drag reduction. Turbulent flow is a physical phenomenon present in every pressurized flow medium transported in pipelines under pressure (i.e., any pump causes turbulent flow). In turbulent flow, the fluid particles undergo irregular fluctuations, or mixing, in contrast to laminar flow, in which the fluid particles move in smooth paths or layers. In turbulent flow, the speed of the fluid particles at any specific point is continuously undergoing changes in both magnitude and direction. This causes the flow to slow down, which increases hydrodynamic resistance and thus causes electric motors to consume more energy during the pumping process. Since turbulent flow is a stable state, it is extremely challenging to modify it into partially laminar flow and keep it in that manner without consuming a considerable amount of energy for this process.

Three main sectors of critical infrastructure, oil, gas and water, rely heavily on pipes and pumps. Pumps consume an enormous amount of energy in the global water, oil, and gas markets. All three critical infrastructure sectors are actively seeking to improve energy efficiency.

In an era of increasing awareness of climate change, the desire to achieve sustainable growth while reducing environmental impact is strengthening the momentum of global efforts to reduce energy consumption. The historic 2015 Paris Climate Accords, endorsed nearly worldwide, calls for keeping the rise in average global temperatures “well below” two degrees Celsius (2°C) during the present century, compared to pre-industrial levels. According to the International Renewable Energy Agency, Global Energy Transformation Report, renewable energy and energy efficiency can, in combination, provide over 90% of the necessary energy-related CO2 emission reductions necessary to meet this goal of the Paris Climate Accords. Our technology has been designed to address the major challenge of reducing energy consumption in pipeline fluid transportation. The main technological challenge is to develop a sustainable and practical cost-efficient solution that makes the flow less turbulent. We are hopeful that our technology will be part of the vision of the Paris Climate Accords and will enhance energy efficiency to reduce CO2 emissions.

We are in the process of developing a novel active flow control device that introduces pressure waves into turbulent pipe flow and causes a laminarization of the flow reducing friction on the pipe walls and hence reducing drag. Our device, referred to as a PWG, is a nonlinear on/off valve that is installed on a bypass to the pump. When the PWG is operated, it releases a small changing flowrate back to the inlet of the pump, causing change in the pump’s outlet pressure and pressure waves through the pipe and potentially suppress the turbulence in the pipe thus reducing drag and saving on pump’s energy cost. This effect is designed to be sustainable for a significant pipe length and thereby introduce non-trivial energy savings regarding input pump work. Since February 2022, we have engaged with Ozen Engineering, a California based company, to perform commercial-grade computational fluid dynamics, or CFD, simulations of the PWG by considering the impact of generated pressure waves on fully-developed turbulent pipe flow. The overall goal was to further optimize and improve the original PWG design. In addition, we have established in Israel an open-source CFD software/hardware environment and initiated simulation studies to complement and expand on the Ozen effort.

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Our product is designed in a modular concept. It consists of four separate yet interconnected components/systems: (i) a pressure waves generator, or PWG, (ii) control panel, (iii) measuring instruments, and (iv) a program (currently in development) for automatic control and dynamic optimization of the energy saving mode. The PWG is connected parallel to the pump and designed for the given flow and pipeline parameters. Once operating, our product generates immediate pressure waves in the discharge pipeline after the pump resulting in an immediate reduction in electricity consumption by the pump.

A significant advantage of our PWG is that it is designed to be applied with minimal modifications to existing pipeline systems and without changing the pipeline itself. Also, the PWG consumes no more than one percent of the energy used by the pump.

In November 2018, we entered into a beta test agreement, or the Beta Test Agreement, with Mekorot Water Company Ltd., or Mekorot, Israel’s national water company. The Beta Test Agreement provides for Mekorot to test and examine the performance of our product for commercial production and its compliance with test specifications. The testing is planned to commence in late 2024 and take place over 30 months. The testing consists of several stages: (i) the preparation of a working plan, specification of the beta product and definition of the success criteria (completed in December 2018); (ii) after meeting the specification of the beta product, testing the performance of our product at an experimental site (planned in late 2024); (iii) testing the performance of our product at an operational site; and (iv) at the final stage of the product evaluation, a group from both sides will issue a final report analyzing the product performance compared to the success criteria defined for the beta test and discuss the suitability of the product for Mekorot.

In December 2018, we completed the first stage of the Beta Test Agreement, consisting of preparation of a working plan, specification of the beta product, and definition of the success criteria. Commencing in 2019, we leased our research and development facility and began the construction of a hydrodynamic experimental lab facility on which to conduct preliminary testing of the PWG performance in order to achieve at least 10% pump energy savings. The hydrodynamic lab consists of a pump, a water tank, and 136 meter long water pipeline with sensors detecting temperature, speed, flow rate, and pressure. In 2019, we developed an initial prototype of the PWG and developed prototypes of the other components/systems of the product, and we are currently developing the software for automatic control of the PWG for dynamic optimization for energy savings. The construction of the lab facility, along with the development of the initial prototype of the PWG, was completed in the fourth quarter of 2019, followed by subsequent improvements in 2020.

We plan to conduct additional research for the development of a new generation of the prototype of the PWG that will be designed to meet the specifications of the beta product, upon which we plan to commence testing under the Beta Test Agreement by late 2024.

Industry: Flow control in fluid pipelines - Pumps & Pumping Equipment
Employees:
Founded: 2017
Contact Information
Address 31 Hamelacha St. Netanya, 4250566, Israel
Phone Number +972-77-955-5828
Web Address
View Prospectus: Laminera Flow Optimization
Financial Information
Market Cap
Revenues $ mil (last 12 months)
Net Income $ mil (last 12 months)
IPO Profile
Symbol LMIN
Exchange NASDAQ
Shares (millions): 1.6
Price range $4.25 - $6.25
Est. $ Volume $8.4 mil
Manager / Joint Managers Aegis Capital
CO-Managers
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
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