Heliogen Inc (HLGN)

[WeTheMarket]

Heliogen receives $89m from Woodside and US Department of Energy to unlock large-scale green hydrogen production
By George Heynes
on May 04, 2022
https://www.h2-view.com/story/heliogen-receives-89m-from-woodside-and-us-department-of-energy-to-unlock-large-scale-green-hydrogen-production/



Heliogen, developer of an innovative solar technology that can produce hydrogen on an industrial scale, has been supported with a total of $89m from Woodside and the US Department of Energy.

The product in question is Heliogen’s AI-enabled concentrated solar energy technology which, through automation, is able to acquire optimum concentrations of the sun to generate heat for electrolysers.

The green hydrogen produced from this process can be used to move renewable and clean energy across continents at cost-competitive rates.

$50m will be provided by Woodside to help development of the technology and commercially deploy the technology across the US.

Bill Gross, Founder and CEO of Heliogen, said, “This development milestone further demonstrates Heliogen’s momentum through commercial, technological and governmental partnerships.

“Bringing together the needs and expertise of world-class companies like Woodside, Hanwha, and others will accelerate the pace at which Heliogen is able to deploy our innovative technologies for providing clean energy to heavy industry.

“The support of the US Department of Energy is also critical in moving technologies like ours into commercial deployment phase. I am incredibly excited at what our company can achieve in 2022 and beyond.”

Steve Schell, Chief Technology Officer and Chief Engineer at Heliogen, said, “We are proud to transition out of the design phase and into testing and implementation of our advanced sCO2 power cycle.

“The innovative design we have developed is a testament to our world-class engineering capabilities and our partnership with Hanwha, which brings unparalleled expertise in designing, developing and commercialising sustainable power systems.

“Our collective teams have taken a significant step forward in developing the technology that will play a critical role in decarbonising heavy industry to fight climate change.”