Extract Energy CEO named one of Canada's top sustainability leaders

CAMBRIDGE, Ontario, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Extract Energy's game-changing solution to convert low-grade waste heat into electricity earned its CEO a 2023 Clean16 award.

Each year, Delta Management Group recognizes individuals or small teams who have done the most to advance sustainability and clean capitalism in Canada. Among the 2023 recipients, Extract Energy's Ibraheem Khan was ranked in the top 16 from a pool of more than 1,000 well qualified nominees ? and first in the category of research and development.

"The 2023 Clean16 are truly the leaders of the leaders in sustainability in Canada," says Gavin Pitchford, CEO, Delta Management Group. "To be selected from amongst such a strong group of peers is truly a testament to the contribution Ibraheem Khan has made to helping make Canada more sustainable for all Canadians."

Extract Energy has been advancing their technologies to take advantage of waste heat produced by equipment in factories, refineries, food and beverage plants, as well as high-tech industries like data centres.

Because the temperature of most of this waste heat is relatively low, capturing it using conventional technologies often doesn't make economic sense. But Extract Energy's Heat Engine turns that inefficiency into opportunity. Its nickel-titanium-based shape memory alloys expand and contract, creating a motion that can be converted to zero-emission, grid-quality electricity.  

"I'm incredibly honoured to receive this recognition. But the honour really goes to our entire team," says Khan. "Everyone at Extract Energy has been working tirelessly to bring this technology to fruition, and we're excited to continue our efforts scaling and piloting our system to realise the impact it can make to GHG emissions," says Khan.

Because nearly 65 per cent of the world's energy is lost as waste heat, tapping into such an enormous energy source has the potential to save millions of tons of greenhouse gas emissions each year.

In the past two years, the Extract Energy team has drastically increased output of their Heat Engine, targeting megawatt-levels of power output. "As it scales further, more applications will be unlocked, enabling a range of industries to drastically decrease their carbon footprint," says Pitchford.

To see the full list of Delta Management Group's 2023 Clean16, click here.

About Extract Energy
Extract Energy is a division of Smarter Alloys: an award-winning materials science company located in Ontario, Canada. Extract Energy is at the forefront of deploying the potential of smart material to convert low grade waste heat to electricity. www.extractenergy.com

Media Contact: Michael Kuntz 519-880-0100 / [email protected] 

About Delta Management Group / Canada's Clean50:
Leading ESG, sustainability and clean tech search firm Delta Management Group founded, and remains the steward of the Canada's Clean50 awards, created in 2011 to annually identify, recognize and connect 50 sustainability leaders from every sector of Canadian endeavor, in order to facilitate understanding, collaboration and innovation in the fight to keep climate change impacts below 1.5 degrees C. Ancillary awards also recognize 20 Emerging Leaders and the 25 Top Sustainability Projects of the year, as well as bestow Lifetime Achievement designations.

Media Contact: Gavin Pitchford 416-925-2005 x 2300 / [email protected]