FPR Energy, a new venture from national science agency CSIRO, has secured $15 million in seed funding to commercialise next-generation solar thermal technology that will help reduce industrial emissions, which account for 20% of Australia’s annual carbon footprint.
The company was launched in collaboration with global advisory and funds management firm RFC Ambrian and utilities leader Osaka Gas, raising the largest seed funding for a CSIRO co-founded venture to date.
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FPR Energy aims to cut emissions in heavy industries such as minerals refining, steel, cement and chemical production using CSIRO’s particle-based Concentrated Solar Thermal (CST) technology, capable of producing temperatures up to 1200 degrees Celsius—an industry first.
The technology uses abundant and low-cost ceramic particles to store sunlight as heat, enabling long-duration energy storage to support industrial processes, green fuel production and reliable, dispatchable power.
CSIRO energy technologies research director Dr Daniel Roberts says FPR Energy is a major step in meeting the growing demand for renewable solutions in hard-to-abate heavy industries.
“FPR Energy is building on years of solar thermal research, demonstrating CSIRO’s commitment to supporting emissions reduction using impact-focussed science and technology,” Dr Roberts says.
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“Diversifying the way we harness Australia’s abundant solar resources will help develop a low-carbon economy and support economic growth and job creation in the Hunter region.
“Helping heavy industries to transition to cleaner energy sources is essential to reaching Australia’s net-zero emission targets.”
FPR Energy plans to develop a 50MW thermal demonstration plant, with up to 16 hours of integrated thermal energy storage. The plant aims to prove the commercial viability of FPR Energy’s CST technology at a utility scale.
