ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Heliogen Awarded Exclusive Right to Lease Brenda Solar Energy Zone for Green Hydrogen Production

Heliogen, Inc. (“Heliogen” or the “Company”) (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy, today announced that the United States Bureau of Land Management has awarded the Company the exclusive right to lease land in the Brenda Solar Energy Zone (SEZ).

Heliogen intends to develop a green hydrogen facility on the Brenda site, capable of producing approximately 20,000 metric tonnes of hydrogen per year. The Brenda SEZ is situated on 3,343 acres of land in La Paz County, Arizona on the California border. The site has direct access to Interstate 10 for distribution of hydrogen to nearby natural gas pipelines for blending and transport, as well as to the Phoenix metropolitan area and the Port of Los Angeles for domestic and international shipping.

“The Brenda SEZ is an ideal location for commercial-scale green hydrogen production due to the ample local water supply and its close proximity to potential offtake partners and key distribution channels,” said Bill Gross, Chief Executive Officer of Heliogen. “We look forward to providing updates on our plans to develop the facility and will leverage our proprietary, AI-enabled concentrated solar power technology to produce cost-effective green hydrogen. We are grateful to the Bureau of Land Management for their support and clarity throughout the process and are looking forward to continuing our work together.”

As previously announced, Heliogen and Bloom Energy successfully generated green hydrogen by integrating the companies’ technologies – Heliogen’s concentrated solar energy system and Bloom Energy’s Electrolyzer. The successful hydrogen production demonstration in Lancaster, California, completed in November 2021, showcased the many benefits of combining the companies’ complementary green power and hydrogen production technologies.

Heliogen’s AI-enabled concentrated solar energy system is designed to create non-intermittent, carbon-free steam, electricity, and heat from sunlight. When combined with Bloom Energy’s proprietary solid oxide, high-temperature electrolyzer, hydrogen can be produced 45 percent more efficiently than with low-temperature polymer electrolyte membrane (PEM) and alkaline electrolyzers. Electricity accounts for nearly 80 percent of the cost of hydrogen produced from electrolysis, and by using less electricity, hydrogen production is more economical, accelerating its adoption. In addition, the ability to use heat, which is a much lower cost source of energy than electricity, further improves the economics of green hydrogen production.

Project development is one of the many ways Heliogen can support customers looking to deploy its novel solar technology. Heliogen leverages its in-house expertise, led by Chief Commercial Officer Tom Doyle, to develop project sites on behalf of customers who take an owner/operator role.

About Heliogen

Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit Heliogen.com

.@HeliogenInc, a leading provider of AI-enabled concentrated solar energy, announces the Company has been awarded the exclusive right to lease land in the Brenda Solar Energy Zone for green hydrogen production.

Contacts

Recent Quotes

View More
Symbol Price Change (%)
AMZN  234.23
+1.01 (0.43%)
AAPL  277.46
-1.39 (-0.50%)
AMD  219.06
+1.53 (0.70%)
BAC  53.87
+0.22 (0.41%)
GOOG  316.31
-3.81 (-1.19%)
META  644.53
-3.42 (-0.53%)
MSFT  488.01
-4.00 (-0.81%)
NVDA  178.31
+1.31 (0.74%)
ORCL  202.44
+0.49 (0.24%)
TSLA  429.11
-1.06 (-0.25%)
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.