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Heliac

Problem

Cost of heat from natural gas and biomass is ~€30-40 per MWh. Since heat is primary energy form for most processes this affects production cost of most goods globally. Further, the cheapest energy is in general based on fossil fuels emitting carbon and thus primary driver for climate change.

Solution

Cost of heat instead at €5-15 per MWh. Heliac has developed a method for very large-scale production of lenses that focus sun light, hence generating heat. Expensive, mirror-based systems doing the same already exist and work well. Our solution replaces the mirrors, while leaving the rest of the system untouched.

Traction

E.ON has bought a full-scale plant delivering 1.7MW district heating. This will be commissioned early 2018. Other potential customers asking for significantly larger systems are in the pipeline (presently totalling ~250MW = €50M).

Ask, use of proceeds, milestones

Heliac can already today source all components in amounts able to meet demand at any size. Hence, fundraising is primarily organizational build-up for expansion within one or more of the possible application areas; district heating and cooling, desalination, process, and power production. Ask per application area is €5M.

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