Explore the words cloud of the ESSENCE project. It provides you a very rough idea of what is the project "ESSENCE" about.
The following table provides information about the project.
|Coordinator Country||Italy [IT]|
|Total cost||71˙429 €|
|EC max contribution||50˙000 € (70%)|
1. H2020-EU.3.3. (SOCIETAL CHALLENGES - Secure, clean and efficient energy)
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
|Duration (year-month-day)||from 2016-02-01 to 2016-05-31|
Take a look of project's partnership.
|1||EUREK SRL||IT (IMOLA)||coordinator||50˙000.00|
|2||8 B SRL||IT (CHARVENSOD)||participant||0.00|
While it may sound strange considering how often coffee is consumed around the world, current professional espresso machines on the market are highly energy inefficient and struggle to consistently achieve and maintain the desired coffee taste quality that people in the industry refer to as “the god shot”. Realizing this market opportunity, an engineering automation company, Eurek SRL, and coffee machine manufacturer, 8B, have partnered to design a new machine that helps bars, restaurants and coffee shops save 50% of their electricity costs while also ensuring customers are served a delicious cup of coffee at any time of day.
There have been significant improvements in control technologies that operate coffee machines but the basic internal construction and process of making espresso has changed very little. A coffee machine utilized in a commercial environment must be left switched on 24 hours a day to ensure that the hot water temperature is maintained. This leads to electricity costs that can exceed €7,000 per year.
Our innovative design utilizes a modular approach that takes advantage of heating exchange technology to half electricity costs while also ensuring a premium quality coffee brew. New coffee machine designs have so far been unable to achieve this combination.
Our new technology therefore has the potential to completely revolutionize the Espresso Coffee Machine industry, which is worth approximately €536 million in Europe alone with over 180,000 espresso machines sold annually. We expect our machine to generate revenues of €8 million by 2022, resulting in profits of €3.35 million that will be split between our two companies.
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The information about "ESSENCE" are provided by the European Opendata Portal: CORDIS opendata.