Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CESTHeliogen Inc (NYSE:HLGN), a US company focused on decarbonising industry through its concentrating solar-thermal power (CSP) technology, has been awarded USD 4.1 million (EUR 4.2m) by the US Department of Energy (DoE) for a demonstration project aimed at reducing carbon emissions from cement production.
The project will demonstrate a solar-driven calciner that uses Heliogen’s CSP system. This is a device that through a heated process removes carbon dioxide (CO2) from limestone for cement manufacturing. It will be able to reach temperatures of up to 950 degrees C.
Heliogen is partnering on the project with the Colorado School of Mines, the University of Michigan, Martin Marietta Materials Inc (NYSE:MLM) and CTP Advanced Composites.
The initiative will seek to provide the basis for developing a commercial solar calcination system enabling CO2 capture and heat recovery, the company said. It noted that as cement production requires lots of energy, it contributes about 7% of global CO2 emissions, with calcination accounting for much of the energy used by the industry.
The award is part of a programme of DoE’ Solar Energy Technologies Office (SETO), the SETO Fiscal Year 2022 CSP Research, Development, and Demonstration funding programme. Funding of USD 25 million was announced for this scheme in early 2022, and SETO announced its 10 selected projects in September.
(USD 1 = EUR 1.028)
Vistra agrees USD 3.25bn buyout of zero-carbon energy unit
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