Wedoany.com Report-Nov 27, CSIRO spin out FPR Energy has secured $15 million in seed funding to commercialise concentrated solar thermal technology that lends itself to long-duration energy storage for industrial processes, green fuel production and dispatchable power.

Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) has teamed with global advisory firm RFC Ambrian and Japanese utility Osaka Gas to launch concentrated solar thermal (CST) technology venture FPR Energy.

The new venture plans to commercialise CSIRO’s particle-based CST technology that it says is capable of producing temperatures up to 1,200 degrees Celsius.

The technology uses ceramic particles to absorb and store sunlight as heat, enabling long-duration energy storage to support the decarbonisation of Australia’s heavy industry.

Headquartered at CSIRO’s Energy Centre in Newcastle on the New South Wales Central Coast, FPR plans to develop a 50 MW demonstration plant with up to 16 hours of integrated thermal energy storage to prove the commercial viability of the particle-based technology.

CSIRO Energy Technologies Research Director Dr Daniel Roberts said FPR is a major step in meeting the growing demand for renewable solutions in hard-to-abate heavy industries such as minerals refining, steel, cement and chemical production.

“FPR Energy is building on years of solar thermal research, demonstrating CSIRO’s commitment to supporting emissions reduction using impact-focused science and technology,” he said.

“Helping heavy industries to transition to cleaner energy sources is essential to reaching Australia’s net-zero emission targets.”

Plans also include expanding the technology to other high-solar regions worldwide, including North and South America, the Middle East and Africa.

Rob Adamson, Chair of RFC Ambrian, said emissions reduction and affordability of energy were often dilemmas for industrial energy users and the technology to be commercialised by FPR offers a practical solution.

“The decarbonisation of high-temperature industrial processes is crucial, and particle-based CST technology stands out as a highly promising solution, offering both high-temperature heat and long-duration storage at competitive costs,” he said.

“FPR Energy’s technology embodies Australian innovation in solar technology and is designed for scalable, local manufacturing.”

CSIRO said the $15 million (USD 9.75 million) raised for the launch of FPR is the largest seed funding to date for one of its co-founded ventures.