Heliogen Inc (HLGN)

[WeTheMarket]

Heliogen and Omanor Forge Collaboration for Solar Energy Expansion in Mexico
January 16 2024
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/93050545/heliogen-and-omanor-forge-collaboration-for-solar

The collaboration aims to harness Mexico’s rich solar potential, advancing regional economies and bridging energy markets

Heliogen, Inc. (“Heliogen”) (OTCQX: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today announced a joint development agreement with Omanor, a real estate developer of logistics & energy infrastructure assets, and provider of permitting and off-take services for renewable energy projects in the states of Baja California Norte and Sonora, Mexico. The agreement includes developing a concentrating solar power plant leveraging Heliogen’s technology.

Heliogen and Omanor are progressing through the first of four phases, which evaluates an existing zoned and permitted piece of land in Sonora, Mexico to host the first project. Upon completion of Phase 1, cost analyses and feasibility studies specific to sizing and generation capacity will commence. Omanor will support Heliogen in preliminary site due diligence and identifying and securing initial commercial energy customers.

“Our collaboration with Heliogen is a pivotal step in leveraging Mexico's unique geographical advantages for renewable energy,” said Daniel Suarez, CEO of Omanor. “The synergy between recent renewable energy accelerating federal policies and Heliogen's breakthrough concentrating solar technology promises to transform our rich solar landscapes into powerful, sustainable energy hubs. We are excited to embark on this journey and bring this visionary project to fruition.”

In partnering with Omanor, Heliogen unlocks an expanded market in Mexico, and gains the on-the-ground expertise needed to initiate projects of scale. The region boasts high solar resources and direct access to the Pacific Ocean to support various industrial processes, including desalination and hydrogen production.

“By combining our innovative technology with Omanor’s regional expertise, we are poised to unlock the vast potential of Mexico's solar resources to help decarbonize industry,” said Christie Obiaya, CEO of Heliogen. “Through this relationship, we pave the way for deployment of Heliogen’s clean energy solutions in Mexico while also stimulating local economies.”

About Heliogen

Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.

Omanor

Omanor is an investor & real estate developer of energy & logistics assets in Mexico. Since its inception in 2015, it has proven to excel amid the complex bureaucratic landscape, for example having successfully permitted a Marine Fluids Terminal. Its partners hold a majority ownership of several real estate assets in the State of Sonora and are amongst the leading entrepreneurs in the mining, tourist, commercial, industrial and housing development sectors in the Mexican Northwest.