Heliogen and Dimensional Energy Announce First-of-its-Kind Collaboration to Produce Carbon-Free Sustainable Aviation Fuel from Concentrated Sunlight and Green Hydrogen
Heliogen (NYSE: HLGN) has entered a letter of intent with Dimensional Energy to produce sustainable aviation fuel (SAF) at its facility in Lancaster, California. This collaboration aims to demonstrate the use of Heliogen's AI-driven HelioHeat™ technology to generate green hydrogen for fuel production. The initial project targets the creation of ~1 barrel per day of SAF, scaling up to approximately 3 million barrels over the next decade. The SAF market is projected to grow significantly, from $219 million in 2021 to $15.7 billion by 2030.
- Collaboration with Dimensional Energy to produce sustainable aviation fuel.
- Initial goal of producing ~1 barrel per day of SAF, with potential to scale to 3 million barrels in 10 years.
- Projected growth of SAF market from $219 million in 2021 to $15.7 billion by 2030.
- None.
Initiative to demonstrate technology and produce jet fuel reserves for commercially viable carbon neutral flight
The companies will work to deploy Heliogen’s proprietary, artificial intelligence (AI)-powered HelioHeat™ technology to convert sunlight directly into thermal energy in the form of high temperature steam and air that will be used to produce green hydrogen for Dimensional Energy’s Reactor platform. The hydrogen will be produced leveraging the previously announced successful demonstration of Heliogen’s concentrated solar technology. As part of the collaboration between
As previously announced, Dimensional Energy has signed a commercial agreement to supply United Airlines with 300 million gallons of SAF over 20 years.
The airline industry is responsible for nearly
“At Heliogen, our mission is to decarbonize industry by delivering advanced renewable energy systems that are more affordable than fossil fuels and we are thrilled to collaborate with Dimensional Energy to advance the decarbonization of the aviation industry,” said
“This collaboration with
About
About Dimensional
Dimensional Energy envisions a world free from fossil fuel dependency. We use carbon dioxide emissions as a replacement for fossil carbon to make the fuels and products people use every day. Our team of subject matter experts come from all over the world with a shared purpose of making the sustainable materials necessary for a truly circular economy and bringing about climate justice for all. Our technology can produce energy locally, at a scale that can satisfy global demand without extracting resources or fomenting conflict. Learn more at www.dimensionalenergy.com.
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 the production of, and current and projected market for, sustainable aviation fuel. 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) 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; (iii) our ability to access sources of capital to finance operations, growth and future capital requirements; (iv) our ability to maintain and enhance our products and brand, and to attract and retain customers; (v) our ability to scale in a cost effective manner; (vi) changes in applicable laws or regulations; (vii) the ongoing impacts of the COVID-19 pandemic and the potential impacts of Russia’s invasion of
View source version on businesswire.com: https://www.businesswire.com/news/home/20220808005774/en/
Heliogen Media Contact:
HeliogenPR@icrinc.com
Heliogen Investor Contact:
Louis.Baltimore@heliogen.com
Dimensional Media Contact:
dan@dimensionalenergy.com
Source:
FAQ
What is the recent collaboration involving Heliogen (HLGN)?
What technology is Heliogen utilizing in its partnership with Dimensional Energy?
What are the production goals for the sustainable aviation fuel project?