Heliogen agrees 5-MWe demo project, more comprehensive tie-up with Woodside
- United States artificial intelligence (AI)-allowed concentrated solar expert Heliogen Inc (NYSE: HLGN) today said it will certainly release a 5-MWe module of its technology in California under an agreement with Woodside Energy U.S.A. Inc, a unit of Australia's Woodside Petroleum Ltd (ASX: WPL).
Furthermore, the companies will collaborate on advertising and marketing Heliogen's innovation in Australia, and also Woodside will certainly take an equity interest in Heliogen.
Heliogen creator and president Bill Gross said the project and also cooperation agreements are an essential step in the commercialisation of Heliogen's concentrated solar innovation as well as the decarbonisation of heavy sector. "We are likewise pleased to share that, together with these agreements, our tactical partnership with Woodside consists of Woodside taking an equity engagement in Heliogen," Gross included. Further details on this point were not given.
The project agreement for the commercial-scale demo implementation of Heliogen's technology in Mojave, California follows a formerly revealed limited notice to proceed awarded by Woodside to Heliogen to start procurement of key equipment for a 5-MW electric facility. Heliogen will certainly be responsible the engineering, purchase as well as building of the facility, with structure work set to start upon authorization of permits.
The project will become part of Heliogen's formerly announced USD-39-million (EUR 35.6 bn) award from the United States Department of Energy to deploy its technology in California. Consequently, it will additionally entail the release as well as testing of an ingenious approach to transforming the thermal energy into power.
Under the cooperation agreement, the firms will jointly market Heliogen's modern technology to possible clients in Australia, including Woodside. Heliogen's warmth and also power offerings might be integrated with a hydrogen offering, strengthening Woodside's role in the energy shift, the firms noted. Similar discussions for the US are underway.