Heliogen and Omanor Forge Collaboration for Solar Energy Expansion in Mexico
January 16 2024 - 8:00AM
Business Wire
The collaboration aims to harness Mexico’s rich
solar potential, advancing regional economies and bridging energy
markets
Heliogen, Inc. (“Heliogen”) (OTCQX: HLGN), a leading provider of
AI-enabled concentrating solar energy technology, today announced a
joint development agreement with Omanor, a real estate developer of
logistics & energy infrastructure assets, and provider of
permitting and off-take services for renewable energy projects in
the states of Baja California Norte and Sonora, Mexico. The
agreement includes developing a concentrating solar power plant
leveraging Heliogen’s technology.
Heliogen and Omanor are progressing through the first of four
phases, which evaluates an existing zoned and permitted piece of
land in Sonora, Mexico to host the first project. Upon completion
of Phase 1, cost analyses and feasibility studies specific to
sizing and generation capacity will commence. Omanor will support
Heliogen in preliminary site due diligence and identifying and
securing initial commercial energy customers.
“Our collaboration with Heliogen is a pivotal step in leveraging
Mexico's unique geographical advantages for renewable energy,” said
Daniel Suarez, CEO of Omanor. “The synergy between recent renewable
energy accelerating federal policies and Heliogen's breakthrough
concentrating solar technology promises to transform our rich solar
landscapes into powerful, sustainable energy hubs. We are excited
to embark on this journey and bring this visionary project to
fruition.”
In partnering with Omanor, Heliogen unlocks an expanded market
in Mexico, and gains the on-the-ground expertise needed to initiate
projects of scale. The region boasts high solar resources and
direct access to the Pacific Ocean to support various industrial
processes, including desalination and hydrogen production.
“By combining our innovative technology with Omanor’s regional
expertise, we are poised to unlock the vast potential of Mexico's
solar resources to help decarbonize industry,” said Christie
Obiaya, CEO of Heliogen. “Through this relationship, we pave the
way for deployment of Heliogen’s clean energy solutions in Mexico
while also stimulating local economies.”
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.
Omanor
Omanor is an investor & real estate developer of energy
& logistics assets in Mexico. Since its inception in 2015, it
has proven to excel amid the complex bureaucratic landscape, for
example having successfully permitted a Marine Fluids Terminal. Its
partners hold a majority ownership of several real estate assets in
the State of Sonora and are amongst the leading entrepreneurs in
the mining, tourist, commercial, industrial and housing development
sectors in the Mexican Northwest.
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 the successful deployment of
renewable energy projects in Mexico. 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/20240109132520/en/
Heliogen Investor Contact: Louis Baltimore VP, Strategic
Finance & Investor Relations Louis.Baltimore@Heliogen.com
Heliogen Media Contact: Sam Padreddii Manager, Corporate
Communications Sam.Padreddii@Heliogen.com
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