Heliogen and Woodside Energy Announce Commercial-Scale Demonstration Project and Collaboration Agreement
March 28 2022 - 8:00AM
Business Wire
Agreement to deploy a 5 MWe module of
Heliogen’s AI-enabled concentrated solar energy technology in
California and jointly market Heliogen’s innovative technology in
Australia
Heliogen, Inc. (NYSE: HLGN), a leading provider of AI-enabled
concentrated solar energy, and Woodside Energy (USA) Inc., a
wholly-owned subsidiary of leading Australian energy producer
Woodside Petroleum Ltd (ASX: WPL), today announced a project
agreement (the “Project Agreement”) for the commercial-scale
demonstration deployment of Heliogen’s AI-enabled concentrated
solar energy technology proposed to be built in Mojave,
California.
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Heliogen and Woodside Energy Announce
Commercial-Scale Demonstration Project and Collaboration Agreement
(Photo: Business Wire)
The Project Agreement follows the previously announced Limited
Notice To Proceed (“LNTP”) granted by Woodside to Heliogen to begin
procurement of key equipment for the deployment of a commercial
scale, single-module 5 megawatt electric (5 MWe) facility. Under
the Project Agreement, Heliogen will complete the engineering,
procurement, and construction of the facility, with construction
expected to begin once permits are approved.
The two companies have agreed to include the scope and
associated funding from Heliogen’s previously announced US$39
million award from the U.S. Department of Energy to deploy
Heliogen’s renewable energy technology in California. This means
that in addition to commercial-scale demonstration of Heliogen’s 5
MWe module, the project will also include the deployment and
testing of an innovative approach to converting the thermal energy
produced by Heliogen’s facility into power, which has the potential
to deliver higher efficiencies with a smaller footprint than
traditional steam turbines.
In addition to the Project Agreement, Heliogen and Woodside
Energy Technologies Pty. Ltd have also signed a collaboration
agreement to jointly market Heliogen’s technology in Australia (the
“Australian Collaboration Agreement”). Under this arrangement, the
companies expect to define product offerings that use Heliogen’s
modular technology for potential customers (including Woodside) in
Australia and are establishing a roadmap to identify and engage
with those customers. The Australian Collaboration Agreement
includes an objective to deploy further commercial-scale modules of
Heliogen’s heat and power offerings which may be combined with a
hydrogen offering, strengthening Woodside’s role in the energy
transition to lower carbon energy sources. The companies are also
in similar discussions in relation to Heliogen’s technology in the
U.S.
“We are thrilled to be working with leading Australian energy
producer, Woodside. Our agreements represent a pivotal next step in
the commercialization of Heliogen’s breakthrough concentrated solar
technology and the decarbonization of heavy industry,” said Bill
Gross, Founder and Chief Executive Officer of Heliogen. “We are
also pleased to share that, along with these agreements, our
strategic alliance with Woodside includes Woodside taking an equity
participation in Heliogen.”
Gross continued, “The proposed Mojave facility will further
advance our discussions with Woodside for additional opportunities
aiming to produce carbon-free heat, power and hydrogen to help them
achieve their sustainability goals.”
“Woodside has set a US$5 billion investment target by 2030 for
new energy products and lower-carbon services1,” said Meg O’Neill,
Chief Executive Officer of Woodside. “Our collaboration with
Heliogen on this innovative technology supports our commitment to
building a low cost, lower-carbon, profitable, resilient and
diversified portfolio.”
About Heliogen
Heliogen is a renewable energy technology company focused on
eliminating the need for fossil fuels in heavy industry and
powering a sustainable future. The company’s AI-enabled, modular
concentrated solar technology aims to cost-effectively deliver near
24/7 carbon-free energy in the form of heat, power, or green
hydrogen fuel at scale – for the first time in history. Heliogen
was created at Idealab, the leading technology incubator founded by
Bill Gross in 1996. For more information about Heliogen, please
visit heliogen.com.
About Woodside
We provide energy which Australia and the world needs to heat
homes, keep lights on and enable industry. We have a reputation for
safe and reliable operations. Our hydrocarbon business is
complemented by a growing portfolio of hydrogen, ammonia and solar
opportunities in Australia and internationally. Our new energy
opportunities include the proposed hydrogen and ammonia projects
H2Perth and H2TAS in Australia and the proposed hydrogen project
H2OK in North America. For more visit woodside.com.au.
1 Investment target assumes completion of the proposed merger
with BHP’s petroleum business. Individual investment decisions are
subject to Woodside’s investment hurdles. Not guidance.
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version on businesswire.com: https://www.businesswire.com/news/home/20220328005258/en/
Heliogen Media Contact: Cory Ziskind ICR, Inc.
HeliogenPR@icrinc.com
Heliogen Investor Contact: Louis Baltimore
Louis.Baltimore@heliogen.com
Woodside Media Contact Christine Forster M: +61 484 112
469 E: christine.forster@woodside.com.au
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