PASADENA, Calif., March 29, 2022–(BUSINESS WIRE)–Heliogen, Inc. (“Heliogen” or the “Company”) (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy, today announced full year 2021 financial and operational results.
Full-Year 2021 Highlights
Finalized $39 million U.S. Department of Energy award for deployment of AI-enabled concentrated solar technology
Completed first field test of autonomous robots designed to reduce installation and maintenance costs
Announced start of equipment procurement for first commercial-scale facility collaboration with Woodside Energy to deploy Heliogen’s power technology
Held successful demonstration of green hydrogen production using the Company’s core concentrated solar technology in partnership with Bloom Energy
Closed business combination with Athena Technology Acquisition Corp. (“Athena”); began trading on the NYSE on December 31, 2021
Began site preparation and setup for first full-scale manufacturing facility in Long Beach, California
Awarded exclusive lease rights to Brenda Solar Energy Zone by the U.S. Bureau of Land Management for the purposes of green hydrogen production
“Our mission is bold but simple,” said Bill Gross, Founder and Chief Executive Officer of Heliogen. “We aim to decarbonize heavy industry, using artificial intelligence, scalable, repeatable manufacturing techniques, and the power of the sun. Our patented closed-loop tracking system for our mirrors will allow us to generate temperatures up to 1,000 degrees Celsius, and efficiently store that heat to create industrial process steam, power and green hydrogen – without the intermittency problems of other renewable energy sources.”
Heliogen Progress in 2021 Continues into 2022
During 2021, Heliogen launched negotiations regarding deployment of its AI-enabled solar energy systems, and began engineering work on one of its first commercial scale facilities. The Company also continued to develop its infrastructure and set the foundation for its commercial-scale operations, to support its prospective project pipeline.
“The past year has been