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Heliogen Inc. (Symbol: HLGN) is a pioneering clean energy company with a mission to eliminate the need for fossil fuels across all sectors of the economy. The company is dedicated to developing and implementing revolutionary technologies that harness the power of the sun to produce carbon-free, ultra-high temperature heat and fuels.
Founded at Idealab, a leading technology incubator, Heliogen aims to transform industrial processes by replacing fossil fuels with sustainable energy solutions. The company's innovations focus on generating solar energy at scale, including the production of hydrogen fuel, which has the potential to revolutionize the energy industry.
Heliogen's core business revolves around its breakthrough technology that concentrates sunlight to achieve temperatures exceeding 1,000 degrees Celsius. This high-temperature heat can be used in various industrial applications such as cement manufacturing, steel production, and petrochemical processes, making these industries more sustainable and eco-friendly.
In recent achievements, Heliogen has made significant strides in advancing its technology through strategic partnerships and pilot projects. The company is actively engaged in collaborations with major players in the energy sector to deploy its solar energy solutions on a commercial scale. Moreover, Heliogen's financial health reflects its commitment to innovation and growth, with continuous investments in research and development.
Heliogen is also exploring new avenues to enhance its technology and expand its market reach. The company's current projects include developing solutions for energy storage and improving the efficiency of solar energy conversion. These initiatives align with Heliogen's vision of creating a sustainable future powered by clean and renewable energy sources.
For more information about Heliogen, please visit heliogen.com.
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.
Heliogen, NYSE: HLGN, announced its second quarter 2022 results, reaffirming guidance of $20-$25 million in revenue and 2-3 contracted modules. Key highlights include a lease execution for the Brenda Solar Energy Zone, a partnership with Hanwha Power Systems for a supercritical CO2 power block, and an LOI with Dimensional Energy for sustainable aviation fuel production. Financially, the company reported $2.4 million in revenue and a net loss of $20.2 million, driven by operational growth and expenses. Heliogen is set to ramp up automated heliostat manufacturing in Q4 2022.
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.
Heliogen, Inc. (NYSE: HLGN) will release its financial and operating results for Q2 2022 on August 10, 2022, after market close. A conference call for investors is scheduled for 10:00 AM EDT on August 11, featuring CEO Bill Gross and CFO Christie Obiaya. The call will be accessible via a live webcast and by phone. Heliogen focuses on AI-enabled concentrated solar energy, aiming to provide sustainable energy solutions, including heat, power, and green hydrogen. More details are available on Heliogen's investor website.
Heliogen, Inc. is set to join the Russell 3000 Index effective June 27, 2022, as confirmed by FTSE Russell on June 17. This membership highlights the company's growth since its public listing in December. Inclusion in the Russell 3000 Index grants access to wider investment opportunities, as it categorizes the company within large-cap or small-cap indexes. Approximately $12 trillion in assets are benchmarked against Russell's indexes, showcasing their significance in the investment community.
Heliogen, a leader in AI-enabled solar energy technology, reported Q1 2022 results, reaffirming its guidance of $20-$25 million in revenue and 2-3 contracted modules. Key highlights include a full project agreement with Woodside Energy for a 5 MWe facility, site preparation for a manufacturing plant in Long Beach, and a lease finalized for the Brenda Solar Energy Zone. However, the company reported a net loss of $59 million, driven mainly by a non-cash provision for contract losses. Adjusted EBITDA for the quarter was negative $16.3 million.
Heliogen, Inc. (NYSE:HLGN) announced a restatement of its full-year 2021 financial statements due to a revised contract accounting method, which reclassifies a government contract as a government grant. This adjustment will reverse a previously recognized contract loss, resulting in improved financial metrics. The restatement is not expected to impact the company's operations, prospects, or liquidity. Heliogen is set to release its first quarter 2022 results on
Heliogen, Inc. (NYSE: HLGN) has announced the rescheduling of its Q1 2022 financial results release and conference call, initially set for May 9-10, 2022. The company stated that it will provide further timing details soon. Heliogen focuses on AI-enabled concentrated solar energy technology, aiming to replace fossil fuels in heavy industries with carbon-free energy solutions. The firm emphasizes its commitment to scaling sustainable energy solutions as a critical aspect of its business model.
Heliogen (NYSE: HLGN) has transitioned from design to testing and implementation of its supercritical CO2 power generation system for a 5 MWe project in Mojave, California, funded by Woodside and the U.S. Department of Energy. The project, which aims to generate carbon-free electricity, is expected to yield approximately $80 million in total revenue over several years. Heliogen partners with Hanwha Power Systems to develop a modular power block and an advanced heat exchanger designed for high efficiency and reduced environmental footprint.
Heliogen, Inc. (NYSE: HLGN) will release its financial results for Q1 2022 on May 9, 2022, after market close. A conference call with CEO Bill Gross and CFO Christie Obiaya will take place on May 10, 2022, at 8:30 AM EST. Investors can access the live call via webcast or by phone. Heliogen specializes in AI-enabled concentrated solar technology, aiming to provide sustainable energy solutions, eliminating reliance on fossil fuels in heavy industries.
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