Collaboration to decarbonize America’s “First
Hydrogen City” through Heliogen’s patented breakthrough CST
technology
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of
AI-enabled concentrating solar energy technology, today announced
the execution of a definitive contract with The City of Lancaster,
California (“The City” or “Lancaster”) to produce green hydrogen to
be purchased by Lancaster for the city’s growing green hydrogen
fuel needs. The partnership represents Lancaster’s first hydrogen
offtake agreement.
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The green hydrogen will be produced at Heliogen’s Proxima
hydrogen facility in Lancaster and will leverage Heliogen’s
innovative technology using AI and advanced computer vision
software to concentrate sunlight with mirrors, producing
carbon-free hydrogen with significant economic development
potential. As part of the agreement, Heliogen will provide green
hydrogen to the City and will certify its carbon intensity, a
measure of the CO2 emitted per kilogram of hydrogen produced.
Proxima could ultimately help support other projects within the
city and region, including sustainable aviation fuel, and sales and
distribution of hydrogen fuel for industrial processes such as
long-haul trucking, cement, and mining.
The agreement between Heliogen and Lancaster builds upon the
previously announced MOU between the parties to establish a clean
hydrogen generation facility, and is expected to contract hydrogen
conforming to SAE J2719 hydrogen fuel cell vehicle specifications
at a $10/kg offtake price. The wholesale-level price represents
significant cost savings for the city amid rapidly increasing
prices at hydrogen filling stations across California, with the
average hydrogen pump price reaching an all-time high of $21.28/kg
in November 2022, according to data provided to Hydrogen Insight by
S&P Global Commodity Insights.
The collaboration furthers the City’s vision to become a model
and leader for hydrogen as a clean, alternative energy source for
municipalities. Lancaster, the nation’s first city to embrace
hydrogen power, is an inaugural winner of the U.S. Department of
Energy’s H2 Twin Cities Initiative.
“We are excited to advance our strategic relationship with The
City of Lancaster and support its needs for green hydrogen fuel at
scale,” said Christie Obiaya, Chief Executive Officer at Heliogen.
“This agreement underscores the incredible potential to rapidly
develop and commercialize green hydrogen as a key pathway for a
decarbonized economy. I am proud of the Heliogen team for its work
to demonstrate the value of our patented breakthrough technology to
produce cost-effective green hydrogen, which will accelerate
adoption of this critical, multi-use form of clean fuel all over
the world.”
“As America’s first hydrogen city, Lancaster is proud to pioneer
innovative solutions to drive change and decarbonize our economy,”
said R. Rex Parris, Mayor, City of Lancaster. “Heliogen’s unique
ability to create carbon-free hydrogen holds immense promise to
fuel our municipal fleet at the lowest carbon intensity. Hydrogen
is the future and we invite other cities to join us on the path to
decarbonization as a way to tackle climate change.”
Heliogen has completed preliminary configuration designs and
secured a site for Proxima.
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
ABOUT THE CITY OF LANCASTER
Lancaster is a diverse community of nearly 170,000, leading the
future through science, technology, art, culture, and
collaboration. Home to astronauts, rocket scientists, families, and
innovative businesses large and small, we are leading the USA with
innovation. Combined with spectacular landscapes and clean air,
Lancaster has the confidence, expertise, spirit, and imagination to
transform tomorrow. We are: Creating a better tomorrow. Together.
Visit us at www.cityoflancasterca.gov.
The City of Lancaster, California, was the first United States
city to embrace hydrogen power, earning the moniker of the "First
Hydrogen City." The City has engaged in numerous formal
partnerships and agreements to harness the potential of clean
hydrogen. Lancaster is jumpstarting hydrogen adoption throughout
the Antelope Valley and southern California.
Forward-Looking Statements Related to Heliogen
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements that are not historical in nature, including
the words “anticipate,” “expect,” “suggests,” “plan,” “believe,”
“intend,” “estimates,” “targets,” “projects,” “should,” “could,”
“would,” “may,” “will,” “forecast” and other similar expressions
are intended to identify forward-looking statements. These
forward-looking statements include, but are not limited to,
statements regarding expectations for Proxima to help support other
projects within the city and region, including sustainable aviation
fuel, and sales and distribution of hydrogen fuel for industrial
processes. Forward-looking statements are predictions, projections
and other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) our financial and
business performance, including risk of uncertainty in our
financial projections and business metrics and any underlying
assumptions thereunder; (ii) changes in our business and strategy,
future operations, financial position, estimated revenues and
losses, projected costs, prospects and plans; (iii) our ability to
execute our business model, including market acceptance of our
planned products and services and achieving sufficient production
volumes at acceptable quality levels and prices; (iv) our ability
to maintain listing on the New York Stock Exchange; (v) our ability
to access sources of capital to finance operations, growth and
future capital requirements; (vi) our ability to maintain and
enhance our products and brand, and to attract and retain
customers; (vii) our ability to scale in a cost effective manner;
(viii) changes in applicable laws or regulations; (ix) developments
and projections relating to our competitors and industry; and (x)
our ability to protect our intellectual property. You should
carefully consider the foregoing factors and the other risks and
uncertainties disclosed in the “Risk Factors” section in Part I,
Item 1A in our Annual Report on Form 10-K for the annual period
ended December 31, 2022 and other documents filed by Heliogen from
time to time with the Securities and Exchange Commission. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Heliogen assumes no obligation and does not intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230606005500/en/
Heliogen Investor Contact: Louis Baltimore
Louis.Baltimore@heliogen.com Heliogen Media Contact: ICR,
Inc. HeliogenPR@icrinc.com City of Lancaster Media Contact:
Jennifer Seguin jseguin@cityoflancasterca.gov
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