**Our proposed Innovation**

Therma-Chem is a Scottish SME that specializes in producing a range of chemical products for the continuous fireside cleaning of boilers, fired heaters, and rotating equipment. Our products make industrial-scale boiler operations more sustainable. We have over 35 years of experience in servicing a global client base that includes Shell, Exxon Mobil, Chevron, S-Oil, PetroChina, Syncrude, MISC, and others.

We have identified a large opportunity to grow our business through a new revenue stream focused on digital data analytics: our customers increasingly demand the use of data to more effectively identify and evidence sustainability measures. As a result, Thema-Chem has developed the blueprint for a concept digital system that will ultimately incorporate:

\*Predictive modelling for increased boiler efficiency

\*Benchmarking

\*Pre-assessment of product suitability

\*Predictive maintenance

As a first step towards this goal, Therma-Chem proposes feasibility work to develop an initial functional, investable demonstrator system. The purpose of this work is to significantly de-risk the large investment required for the full system through market testing with clients. The project will enable us to decide whether or not to proceed with the development of the full system.

Ultimately, our idea is to create a complete reporting and analysis solution which can use modern data analysis and visualisation methods to provide deeper insights while moving to predictive modelling as part of our technical services. There is currently no comparable alternative or better solution on the market, which is dominated by legacy systems, giving us a first-mover advantage. Our innovation falls under 'user-centric low carbon heating and cooling solutions.

**The specific need and size of the opportunity**

The proposed innovation project is part of a company-wide Digital Transformation agenda: with Therma-Chem increasingly required to report on ROI using multivariant data sets supplied by clients, it is becoming a business-critical task to comprehensively analyse and clearly present data. Using data as part of our technical service offering will give intelligent insights on where efficiencies can be made, where output and ROI can be exceeded, and contribute to the NetZero targets.

By pooling data and incorporating models into forecasts, we can help our clients reduce emissions and position the company at the forefront of data-driven sustainability interventions. Anticipating a service-led business model, we anticipate initial demand in the region of a £500,000 sales volume annually, likely increasing to £2m+ annually in the next 5 years.