There are a number of mineral processing operations which produce at some point a stream of hot particulates. At today's energy prices it becomes important to recover the energy held in the hot particulates. Sometimes it is convenient to use gas, e.g. in air pre- heating, and this will be appropriate in some circumstances. There are cases where it would be very useful if energy in the hot processed particles could be exchanged to the cold feed solids. This can be achieved within appropriate limitations by countercurrent heat exchangers comprised of parallel channels which contain, alternately, fluidized solids of 'hot' and 'cold' streams respectively. A pilot- plant has been built. Some calculations relating to industrial application will be Presented.