Research & design for cutting-edge pilot
calcination facility to advance sustainable energy storage
technologies
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of
AI-enabled concentrating solar energy technology, and NantG Power,
LLC, an advanced battery and manufacturing company developing a
radical new approach to designing and manufacturing batteries,
today announced an engineering services agreement to leverage
Heliogen's core intellectual property to develop a pilot solar
thermal calcination facility.
Under the agreement, Heliogen, through its wholly-owned
subsidiary, Heliogen Holdings, Inc., will provide front-end concept
design services and research and development (“R&D")
engineering services, paving the way for NantG Power to purchase a
commercial-scale calcination facility. The scope of this initial
contract includes field testing at Heliogen's demonstration-scale
facility in Lancaster, CA, the development of a technoeconomic
model for a future commercial facility, and preliminary engineering
services for a new pilot calcination facility. This initial work
will serve as a basis for the future deployment of commercial-scale
calcination facilities.
NantG Power expects the impact of such process improvements to
be transformational in the battery materials supply chain, enabling
the company to produce anode and cathode active materials close to
domestic mining sites. Moreover, the collaboration is expected to
limit the infrastructure upgrades needed, including electrical
power generation and transmission, while avoiding shipping of
unrefined feedstock materials across the Atlantic and Pacific
Oceans, resulting in a more environmentally friendly supply chain
for calcination.
"As an early investor in Heliogen, we clearly see the
transformative value of their novel solar thermal energy
technologies,” said Dr. Patrick Soon-Shiong, NantG Power’s
Chairman. “We are highly confident in Heliogen’s growth and ability
under the current management team, led by Christie Obiaya, to
successfully execute on its strategic plan and deliver value for
all stakeholders. Our contract with Heliogen not only reaffirms
this confidence, but also highlights the growing market demand for
sustainable, clean energy storage alternatives like the ones NantG
Power is developing. By harnessing the power of concentrated
sunlight, Heliogen's solutions can replace the need for fossil
fuels and reduce the carbon footprint of industries, such as
ceramic powders manufacturing, that rely on calcination. In
addition to the materials processing benefits of reducing carbon
emissions, we believe the process will be more profitable and
economically impactful by creating more technical jobs, have higher
throughput manufacturing and the ability to produce materials
domestically."
As part of the agreement, which was executed in March, Heliogen
will be compensated by NantG on a time and materials basis.
"We are excited to begin this collaboration with NantG Power,
which demonstrates the market attractiveness of Heliogen's
concentrating solar thermal technology for carbon-intensive
industries that use calcination processes, such as cement and
lithium extraction,” said Christie Obiaya, Chief Executive Officer
of Heliogen, Inc. “Importantly, this relationship enables us to
effectively fund certain R&D activities without compromising
our cost reduction initiative. By maintaining an externally funded,
separate resource pool for this project, we ensure that our
commercial team remains focused on the successful deployment of our
highest technical readiness product—our commercial-scale steam
unit. This balance between innovation and commercialization is
essential to driving sustainable growth for Heliogen and delivering
groundbreaking clean energy solutions to our partners and
customers."
Heliogen's innovative solar technologies have the potential to
disrupt traditional calcination processes and bring about a more
sustainable future. Heliogen previously announced a $4.1 million
award granted from the Department of Energy for R&D into
pathways for commercial implementation of a solar thermal
calciner.
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 NantG Power
NantG Power delivers battery technology breakthroughs that
enable the world’s fastest growing industries including renewable
energy storage, electrification of automobiles, aviation, and heavy
equipment, consumer electronics and data centers among others. We
are dedicated to intelligently identifying, developing, and
deploying the most innovative technologies in order to leave the
world a better place than we found it by using a combination of
novel materials, designs, and approaches, along with world-class
data analytics developed for solving another crucial challenge of
tomorrow-cancer.
Forward-Looking Statements
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 solar thermal calcination,
including its potential to disrupt traditional calcination
processes, and the potential development of commercial-scale
calcination facilities. 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/20230620072488/en/
Heliogen Media Contact: Cory Ziskind ICR, Inc.
HeliogenPR@icrinc.com
Heliogen Investor Contact: Louis Baltimore
Louis.Baltimore@heliogen.com
NANT Media Contact Jen Hodson Jen@nant.com
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