Heliogen Inc (HLGN)

[WeTheMarket]

HELIOGEN Chapter 2
6 days ago, Updated: 5 days ago
https://opportunistic2022.wixsite.com/opportunisticequityb/post/heliogen-chapter-2

In this chapter, I”m just going through a very brief company milestones. Everything compressed for less than 5 minutes of reading.

The company's objective is to build a profitable and scalable business that contributes to achieving global net-zero emissions by decarbonizing heavy industry. The company chose to concentrate on the heavy industry because its the biggest energy consumption sector in the world and extremely underserved by renewable energy. The company's technologies will replace industrial fossil fuels with focused sunlight through proprietary technologies

A quick review the company information:

The company's technology concentrates sunlight to extremely high temperatures, using an AI-based control system that moves around a field of small mirrors to the effect of a self-adjusting magnifying glass at a very large scale. They utilize that to create 100% carbon-free solar thermal energy at temperatures up to 1,000 degrees Celsius, which can be used to make heat, steam, electric power, or green hydrogen. The end products include HelioHeat, HelioPower, and HelioFuel.



Company Commercial Contracts/Progress:

1.Dimensional Energy Collaboration
The company has recently signed a non-binding LOI with Dimensional Energy to produce sustainable aviation fuel (SAF) at its Lancaster, California demonstration facility. Heliogen will produce green hydrogen for Dimensional Energy’s Reactor platform using thermal energy in the shape of high-temperature steam and air.

The company first step is to construct a pipeline of three million barrels of fuel over the next decade. Dimensional Energy has also entered into a commercial agreement to provide United Airlines with 300 million gallons of SAF over 20 years.

2.Partnership: City of Lancaster for Green Hydrogen Production
On November 7, 2022, HLGN enter MOU to Construct a new commercial facility to produce up to 1,500 metric tons of hydrogen annually using Heliogen technology. This facility is expected to produce hydrogen that can be sold to industrial customers in Lancaster and around Los Angeles. They are also expected to take an additional equity partners to support the cost of construction.

Recent Commercial Progress:
- Signed MOU with the City of Lancaster, California to build a new commercial hydrogen production facility using Heliogen technology.
- Selected for a $4.1 million grant from the U.S. Department of Energy to accelerate the deployment and full-scale development of a solar thermal calciner to decarbonize cement production.
- Successfully completed initial field testing of ChariotAV, Heliogen’s autonomous heliostat cleaning vehicle.
- Began final qualification for main production lines at Heliogen’s automated, high-volume manufacturing facility

Heliogen's ChariotAV video: https://youtu.be/WtVmEo3Tw9k



Thomson Reuters (Analyst Research Report).
Forecasted Growth: Date 12/6/2022