IIT Madras-incubated Wankel Energy Systems raises $1 mn to tackle industrial energy loss

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.