HELIOGEN INC - HLGN STOCK NEWS

Heliogen Inc. (OTCQX: HLGN) has announced the completion of Project Capella, a pioneering demonstration project for Generation 3 Concentrated Solar Power (CSP) technology. The project, jointly funded by Woodside Energy and the US Department of Energy, aimed to develop a 5-MWe concentrated solar power plant.

While achieving several critical milestones in prototyping and design, including Front-End Engineering Design (FEED) completion and Centrec particle receiver development, the project concluded after the FEED phase due to cost escalation. Both companies decided not to proceed with construction but remain open to future collaboration.

Heliogen is now shifting its focus to meet growing demand for dispatchable, low-carbon energy solutions for data centers using their Gen 2 CSP technology, which is already commercially proven. The project successfully advanced key technological innovations and established important foundations for future developments in CSP technology.

Heliogen (OTCQX: HLGN) reported its Q3 2024 financial results with total revenue of $1.1 million, down from $2.3 million in Q2 2024. The company reduced operating expenses by 32% sequentially to $12.6 million, and reported a net loss of $(11.8) million, improving from $(19.3) million in Q2. The company maintains $44.6 million in liquidity with no debt. Their Texas Steam Plant, their first commercial-scale installation, is progressing toward completion in Q1 2025, despite weather-related delays. The company has over 2 gigawatts of sales opportunities, including proposals with 5 customers for early design stage projects representing 1.0 gigawatts.

Heliogen, Inc. (OTCQX: HLGN), an AI-enabled concentrating solar energy technology provider, released its Q2 2024 financial results. Key highlights include:

• Revenue of $2.3 million, primarily from the Capella Project and engineering services
• Net loss of $(19.3) million, impacted by impairment charges and inventory reserves
• Adjusted EBITDA of $(14.6) million
• Available liquidity of $51.8 million as of June 30, 2024

The company implemented a targeted plan in May 2024, including workforce reduction and facility closure, to reduce costs. Heliogen's first commercial-scale steam plant in west Texas is progressing towards mechanical completion by year-end 2024. The company continues to focus on liquidity and cost reduction while exploring strategic alternatives.

Heliogen, Inc. announced its first quarter 2024 financial and operational results, showcasing a strong opportunity pipeline of 1.9 GW and a contracted revenue backlog of $76.2 million. The company added $1.8 million to its backlog through a U.S. Department of Energy award and is on track for the first commercial-scale installation of its steam plant in west Texas by year-end 2024. Heliogen reported total revenue of $1.5 million, a net loss of $(15.2) million, and an Adjusted EBITDA of $(14.9) million for the first quarter.

Heliogen, a leading provider of AI-enabled concentrating solar energy technology, extends its duration stockholders rights plan to reduce the exercise price of the rights. The Rights Plan aims to protect stockholders from a takeover threat and allow the Board to consider strategic alternatives. The plan will expire in 2025 unless redeemed earlier by the Company.

Heliogen, Inc. announces the release of financial and operating results for Q4 and full year 2023, with a conference call for investors hosted by CEO Christie Obiaya. The call will be accessible via webcast and telephone.

Heliogen, Inc. (HLGN) announced a joint development agreement with Omanor to develop a concentrating solar power plant in Mexico. The collaboration aims to harness Mexico’s rich solar potential, advancing regional economies and bridging energy markets. The agreement includes four phases, with the first phase evaluating existing land in Sonora, Mexico. Omanor will support Heliogen in site due diligence and securing initial commercial energy customers. The partnership unlocks an expanded market in Mexico, leveraging Heliogen's breakthrough concentrating solar technology and Omanor's regional expertise to decarbonize industry and stimulate local economies.

Heliogen, Inc. (HLGN) announces the transition of Sagar Kurada out of his role as Chief Financial Officer, appointing Alan Gahm as Interim CFO and promoting Wilda Siu to Chief Accounting Officer. The Company has initiated a formal search process for a permanent replacement for Mr. Kurada.

Heliogen, Inc. (HLGN) to participate in the Sidoti Micro-Cap Virtual Investor Conference, showcasing its commitment to decarbonizing industry and empowering a sustainable civilization. CEO Christie Obiaya to lead a public presentation and participate in one-on-one meetings with investors on January 17, 2024, providing exclusive insights into the company's strategic initiatives and progress in addressing the global need for renewable energy sources.