An Oxford University spin-out whose innovative hot water tanks promise to save up to 20 per cent on hot water bills has secured £3.6m in Series A financing. Rather than heat all the water in a hot water tank, the Mixergy Tank applies volumetric heating to supply hot water in a quantity specified by the consumer, who can control the system with an app. According to Mixergy, it does this by exploiting thermal stratification and in doing so delivers hot water five times faster for direct electric tanks and two times faster for indirect gas tanks. As well as saving on energy, the tank provides up to 30 per cent more useable hot water via the use of inlet diffusers that reduce the mixing of cold water that enters the cylinder as hot water is drawn from it.
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