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This work provides an energy and exergy optimization analysis of a moving bed heat exchanger (MBHE). The exchanger is studied as a cross-flow heat exchanger where one of the phases is a moving granular medium. The optimal MBHE dimensions and the optimal particle diameter are obtained for a range of incoming fluid flow rates. The analyses are carried out over operation data of the exchanger obtained in two ways: a numerical simulation of the steady-state problem and an analytical solution of the simplified equations, neglecting the conduction terms. The numerical simulation considers, for the solid, the convection heat transfer to the fluid and the diffusion term in both directions, and for the fluid only the convection heat transfer to the solid. The results are compared with a well-known analytical solution (neglecting conduction effects) for the temperature distribution in the exchanger. Next, the analytical solution is used to derive an expression for the exergy destruction. The optimal length of the MBHE depends mainly on the flow rate and does not depend on particle diameter unless they become very small (thus increasing sharply the pressure drop). The exergy optimal length is always smaller than the thermal one, although the difference is itself small.