Heliogen Announces Semifinalist Position in DOE Heliostat Prize
November 20 2023 - 8:00AM
Business Wire
Innovative wireless heliostat project
highlights company’s leadership in solar energy advancement
Heliogen, Inc. (“Heliogen”) (OTCQX: HLGN), a leading provider of
AI-enabled concentrating solar energy technology, today announced
its selection as one of nine semifinalists in the U.S. Department
of Energy's (DOE) American-Made Heliostat Prize. This renowned
contest, part of a three-phase challenge, accelerates technological
innovation in selected heliostat components.
Heliogen's project, "Testing & Deployment of Fully Wireless
Heliostats," is a novel initiative aimed at evaluating the
viability and comprehensiveness of various cost-effective and
widely available wireless communication technologies powered by
Heliogen’s advanced software control system.
David Haas, concentrating solar-thermal power senior technical
advisor for DOE's Solar Energy Technologies Office (SETO),
expressed his enthusiasm for the advancements showcased by the
semifinalists in the American-Made Heliostat Prize. "We are excited
by the potential in the nine proposed projects by our
semifinalists. The proposals represent innovative approaches and
potential new technologies that could further advance heliostat
capabilities nationwide. We are excited to see where they take
these projects in phase two of the challenge," Haas stated.
This recognition of Heliogen's project in the DOE's Heliostat
Prize reaffirms the company's leading role in the concentrating
solar energy sector, demonstrating its commitment to advancing
sustainable solutions. The deployment of Heliogen’s technology is
backed by the DOE across several previously announced projects,
including the recent strategic collaboration with NantG Power to
advance solar calcining, the development of the world’s first fully
integrated Gen3 concentrating solar power commercial demonstration
with Woodside Energy, and the $39 million DOE award for deploying
AI-enabled concentrated solar technology. These demonstrations
exemplify Heliogen’s capability to enhance the cost-effectiveness,
reliability, and scalability of concentrating solar energy while
highlighting an innovative approach and pivotal role in shaping a
more sustainable energy future.
"Being selected as a semifinalist in the DOE's American-Made
Heliostat Prize is a significant acknowledgment of our team's
dedication to innovation," said Steve Schell, Chief Scientist at
Heliogen. "Our project reflects our commitment to advancing
concentrating solar energy technologies in practical and extensive
ways. We're excited about this project's potential to reduce
project costs, improve the reliability of solar collectors, and
accelerate the deployment of this impactful technology.”
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.
Forward-Looking Statements
This press release includes “forward-looking statements” for
purposes of the safe harbor provisions under the United States
Private Securities Litigation Reform Act of 1995. Statements that
are not historical in nature, including the words “may,” “will,”
“anticipate,” “intend,” “expect” 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 effectiveness and efficiency
of our software control system; ability to advance heliostat
capabilities and expectations related to deployment of our
software. 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) the delisting of our common stock on
the New York Stock Exchange; (iii) changes in our business and
strategy, future operations, financial position, estimated revenues
and losses, projected costs, prospects and plans; (iv) 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; (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; (x) unexpected
adjustments and cancellations related to our backlog; and (xi) 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 year ended
December 31, 2022, as supplemented in our Quarterly Report on Form
10-Q for the quarters ended March 31, 2023 and September 30, 2023,
and other documents filed by the Company from time to time with the
SEC. 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 the Company 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/20231120329380/en/
Heliogen Investor Contact Louis Baltimore VP, Strategic
Finance & Investor Relations Louis.Baltimore@Heliogen.com
Heliogen Media Contact: Sam Padreddii Manager, Corporate
Communications Media@Heliogen.com
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