Press release

Investment in an australian startup company developing next-generation concentrating solar thermal systems - contributing to the decarbonization of global industrial heat demand.

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November 26, 2024
Osaka Gas Co., Ltd.

Osaka Gas Co., Ltd. (President: Masataka Fujiwara) has recently invested in the australian startup FPR Energy Limited, which is engaged in the development of next-generation concentrated solar thermal (CST) systems.
In the future, we will jointly promote efforts toward the commercialization of this system, aiming to contribute to the decarbonization of industrial heat demand.

Currently, over 120 countries and regions around the world have set the goal of achieving 'carbon neutrality by 2050', and decarbonization of industrial heat demand is crucial for this.
Concentrated solar thermal systems use a thermal medium that accumulates heat by concentrating solar energy, and are being developed as next-generation clean energy technology that efficiently converts solar energy into thermal energy for storage and supply, with the generated steam being usable in industrial sectors. By storing solar energy as thermal energy, it becomes possible to supply highly variable renewable energy more stably and cost-effectively. However, existing technologies have significant operational challenges, such as the need to heat the thermal medium with natural gas during inclement weather and the corrosion of piping and tanks, leading to high costs.

FPR Energy is a startup founded in 2023 aiming for the social implementation of next-generation concentrated solar thermal technology developed at Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO), a leading scientific research institution in australia.
Their system utilizes chemically stable ceramic particles as the thermal medium and incorporates uniquely developed receivers and heat exchangers. This enables the supply of high-temperature heat (up to 1,200°C) compared to existing technologies, while also providing advantages in cost, heat exchange efficiency, and operational management.
FPR Energy has already completed a demonstration at a scale of 1MWt and plans to advance technology development and optimization of the operating system toward scaling up to 50MWt, which is commercial scale, by the end of 2026.
After that, in regions rich in solar energy such as australia and North America, South America, and the Middle East, plans are in place for commercialization at a scale of 50 MWt, with the vision of social implementation that is several times that size and more in the future. By supplying large-scale high-temperature steam, there is a desire to contribute to the decarbonization of industrial thermal demand, which has traditionally been difficult to decarbonize.
Additionally, by combining with high-efficiency, low-environmental-impact gas cogeneration and gas boilers that our conglomerate possesses expertise in, the stability of energy supply will be further enhanced.

The Green Innovation Fund project is a fund project of about 2.8 trillion yen created to aim for achieving carbon neutrality by 2050, to accelerate innovation through structural changes in the energy and industrial sectors, and through bold investments.

■Appearance and system overview of the 1MWt demonstration unit (provided by FPR Energy).

2. Company Overview

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