In recent years, the use of wickless heat pipes (thermosyphons) in heat exchangers has been on the rise, particularly in gas to gas heat recovery applications due to their reliability and the level of contingency they offer compared to conventional heat exchangers. Recent technological advances in the manufacturing processes and production of gravity assisted heat pipes (thermosyphons) have resulted in significant improvements in both quality and cost of industrial heat pipe heat exchangers. This in turn has broadened the potential for their usage in industrial waste heat recovery applications. In this paper, a tool to predict the performance of an air to air thermosyphon based heat exchanger using the epsilon-NTU method is explored. This tool allows the predetermination of variables such as the overall heat transfer coefficient, effectiveness, pressure drop and heat exchanger duty according to the flow characteristics and the thermosyphons configuration within the heat exchanger. The new tool's predictions were validated experimentally and a good correlation between the theoretical predictions and the experimental data, was observed. (C) 2014 Elsevier Ltd. All rights reserved.