HELIOGEN INC - HLGN STOCK NEWS

Heliogen, Inc. (NYSE: HLGN) has unveiled strategic priorities aimed at enhancing operational efficiency and fulfilling customer demand in a competitive landscape. CEO Christie Obiaya emphasizes a focus on driving revenue growth through their industrial steam product, which addresses crucial industrial processes and green hydrogen production. The company plans to initiate commercial-scale projects to acquire operating data, streamline cost structures to extend liquidity, and regain NYSE listing compliance. Successful execution of these initiatives may improve financing conditions and attract investor interest.

Heliogen, Inc. (NYSE: HLGN) has appointed Christie Obiaya as the new CEO, effective immediately, to succeed Bill Gross, who has resigned from his position. With nearly 20 years of experience in operational and financial management, Obiaya previously served as Chief Financial Officer and has been integral to Heliogen’s strategic plans. Kelly Rosser has been appointed interim CFO, following her role as Chief Accounting Officer since August 2022. Heliogen focuses on AI-enabled solar energy technology aimed at decarbonizing industrial operations.

Heliogen, Inc. (NYSE: HLGN) has been notified by the NYSE that its average closing stock price has fallen below $1.00, triggering a compliance issue. The company has ten business days to respond and has six months to rectify this by raising its share price. Heliogen is exploring options, including a potential reverse stock split, to comply with listing standards. This notification does not impact its ongoing operations or SEC reporting. The company is focused on sustainable energy solutions through AI-enabled technologies.

Heliogen, Inc. (NYSE: HLGN) announced its third quarter 2022 financial results, reporting total revenues of $3.1 million and a net loss of $27.8 million, attributed to operational growth costs. The company received a $4.1 million award from the U.S. Department of Energy for solar thermal calciner development and signed a letter of intent with Dimensional Energy for sustainable aviation fuel production. Heliogen revised its 2022 revenue guidance to $12 - $14 million, down from $20 - $25 million, due to project delays. A new green hydrogen production facility is also planned with the City of Lancaster, California.

The City of Lancaster has signed a memorandum of understanding (MOU) with Heliogen (NYSE:HLGN) to establish a clean hydrogen generation facility, aiming to position Lancaster as a leader in hydrogen production in the U.S.. Heliogen will act as the technology provider and equity partner, utilizing its solar thermal systems to generate up to 1500 metric tons of carbon-free hydrogen annually. This partnership is set to support local economic development, sustainable aviation fuel initiatives, and other renewable energy projects, enhancing the city’s net-zero vision.

Heliogen, Inc. (NYSE: HLGN) will release its financial and operational results for Q3 2022 on November 7, 2022, after market close. A conference call for investors will follow on November 8 at 10:00 AM EST, hosted by Bill Gross and Christie Obiaya. Investors can access the call via a live webcast on Heliogen's website or by phone at 1-877-407-0789. Heliogen focuses on AI-enabled concentrated solar energy solutions aimed at decarbonizing industries and providing reliable clean energy at scale.

Prime Movers Lab announced that Bill Gross, a notable serial entrepreneur, will be the keynote speaker at its 3rd Annual Breakthrough Science Summit on October 27, 2022. The summit aims to unite leading investors, public policy experts, and researchers to discuss critical advancements in science and technology. Gross, founder of Idealab, has significantly impacted the industry with over 175 companies created, including portfolio companies like Heliogen (NYSE: HLGN) and Energy Vault (NYSE: NRGV). The event will explore the Breakthrough Science Roadmap, focusing on future innovations.

Heliogen has been awarded $4.1 million by the U.S. Department of Energy through its Solar Energy Technologies Office. This funding aims to advance the development of a solar-driven calcination process for decarbonizing cement production, which currently contributes about 7% of global CO₂ emissions. Collaborating with esteemed institutions, Heliogen plans to demonstrate an innovative concentrating solar-thermal power (CSP) system that can heat feedstock to 950°C, significantly reducing emissions from cement manufacturing.

Heliogen, Inc. (NYSE: HLGN) announced the appointment of Dr. Barbara J. Burger to its Board of Directors, effective September 12. Dr. Burger, a former executive at Chevron, replaces David Crane, who was nominated by President Biden for a role at the Department of Energy. Her extensive experience in the energy sector and focus on industrial decarbonization are expected to enhance Heliogen's mission to scale innovative renewable energy solutions. CEO Bill Gross expressed optimism about leveraging Dr. Burger's expertise to advance the company's growth strategy.