“This infusion of new support for Heliogen comes at a time when the paradigm shift toward clean energy is even further accelerated by the new realities the world is facing,” said Bill Gross, CEO and founder, Heliogen. Heliogen will use heat from the sun to generate and store carbon-free energy to power the mine’s industrial processes, significantly reducing carbon emissions at the site.Īmong Heliogen’s existing investors are leading global figures in the fight against the climate crisis, including Bill Gates, Patrick Soon-Shiong, the Los Angeles-based investor and entrepreneur through his investment firm, Nant Capital, Steve Case through Revolution’s The Rise of the Rest® Seed Fund, and Neotribe Ventures. In March 2021, Heliogen and Rio Tinto (NYSE: RIO) announced a Memorandum of Understanding under the terms of which Heliogen will deploy its proprietary, artificial intelligence (AI)-powered technology at Rio Tinto’s borates mine in Boron, California. Heliogen’s technology will also enable power generation through the addition of a supercritical CO 2 turbine and green hydrogen fuel production in combination with an electrolyzer. The baseline system will provide industrial-grade heat that will be capable of replacing fossil fuels in processes including the production of cement, steel, and petrochemicals.
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The advanced computer vision software unique to the Sunlight Refinery precisely aligns an array of mirrors to reflect sunlight to a single target with unprecedented accuracy, delivering high-temperature, carbon-free thermal energy. In November 2019, Heliogen announced that it had successfully demonstrated the first commercial solution for utilizing concentrated solar energy to exceed temperatures greater than 1,000 degrees Celsius. Gekko, a private investment group specializing in ESG Venture Capital, private investment partnership of industry-leading families 8090 Partners, Gordon Crawford, and technology, consumer, and media-focused investor Rashaun Williams. PASADENA, California, June 15, 2021 – Heliogen, the renewable energy technology company unlocking the power of sunlight to replace fossil fuels, today announced that it has raised $108 million in two funding rounds to accelerate the global deployment of its Sunlight Refinery™, a turnkey concentrated solar energy system that aims to make carbon-free energy for high-temperature heat, power, and green hydrogen accessible and more cost-effective than fossil fuels for the first time. The company recently closed $83 million in funding, an oversubscribed round that is in addition to $25 million raised in the previous round. Among the new investors in Heliogen are ArcelorMittal, the world’s leading steel and mining company (NYSE: MT), Edison International, breakthrough scientific startup-focused venture capital firm Prime Movers Lab, Canada-based privately held venture capital fund Ocgrow Ventures, A.T. Two funding rounds accelerate global deployment of Heliogen’s breakthrough AI-assisted concentrated solar thermal technology All Research Papers – SolarPACES Conference 2014ĬSP startup Heliogen’s technology is designed to manufacture solar fuels RAISES $108 MILLION TO ADVANCE NEW NON-INTERMITTENT RENEWABLE ENERGY TECHNOLOGY FOR HEAT, POWER, AND GREEN HYDROGEN.
All Research Papers – SolarPACES Conference 2015.All Research Papers – SolarPACES Conference 2016.All Research Papers – SolarPACES Conference 2017.All Research Papers – SolarPACES Conference 2018.All Research Papers – SolarPACES Conference 2019.SolarPACES Annual Conference Proceedings.TASK VI: Solar Energy and Water Processes and Applications.TASK V: Solar Resource for High Penetration and Large Scale Applications.TASK IV: Solar Heat Integration in Industrial Processes.TASK III: Solar Technology and Advanced Applications.International Affiliated SolarPACES Research Facilities.
SolarPACES (Solar Power and Chemical Energy Systems).