Abstract

In 2024, US-based Advanced Thermovoltaic Systems (ATS), a clean energy research and development company in the US, developed the first commercially available solid-state thermoelectric generator (TEG) that was expected to capture waste heat from industrial processes and convert it into reliable, emissions-free electricity. Under the direction of Kelly Adams, CEO of ATS, the company successfully transitioned a laboratory discovery made by chance to a globally recognized climate solution and won the Earthshot Prize for Fix Our Climate in 2024. After rigorous research over a decade, ATS implemented a pilot TEG system at the Holcim Alpena cement plant in Michigan. Testing by the Department of Energy’s Industrial Technology Validation Program confirmed the TEG system’s ability to exceed expectations with a thermal efficiency of 5 percent compared to the traditional industrial TEG options. Although the technology proved itself, there were numerous challenges for ATS to overcome such as changing the approach companies had toward waste heat and acquiring sufficient capital to launch a new, first-of-its-kind technology. ATS expected to manufacture additional units and deploy units for more heavy industries and to help them (?) achieve net zero targets. It remained to be seen how ATS would create a market for its technology. How will the company attract investors and scale up?

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Understand the product development stages with reference to green-tech products.
• Analyze key issues that companies face in marketing first-of-a-kind technology products.
• Design a strategy for commercialization of prototype tested clean tech products.

Keywords

New Product Development; FOAK; Green Technologies; Pilot Project; Sustainable Energy; Commercialization; Sustainability; Clean Power,Advanced Thermovoltaic Systems (ATS); Kelly Adams; Thermoelectric generator; New Product Development; FOAK; Green Technologies; Pilot Project; Sustainable Energy; Commercialization; Sustainability; Clean Power