In this study, we designed and built a condensing heat exchanger capable of simultaneous fine particle emission reduction and waste heat recovery. The deposition mechanisms inside the heat exchanger prototype were maximized using a computer model which was later compared to actual measurements. The main deposition mechanisms were diffusio- and thermophoresis which have previously been examined in similar conditions only separately. The obtained removal efficiency in the experiments was measured in the total number concentration and ranged between 26 and 40% for the given pellet stove and the heat exchanger. Size distributions and number concentrations were measured with a TSI Fast mobility particle sizer (FMPS). The computer model predicts that there exists a specific upper limit for thermo- and diffusiophoretic deposition for each temperature and water vapor concentration in the flue gas.