Heliogen Raises $108 Million To Advance New Non-Intermittent Renewable Energy Technology For Heat, Power, And Green Hydrogen

Heliogen, the renewable energy technology company unlocking the power of sunlight to replace fossil fuels, today announced that it has raised $108 million in two funding rounds to accelerate the global deployment of its Sunlight RefineryTM, a turnkey concentrated solar energy system that aims to make carbon-free energy for high-temperature heat, power, and green hydrogen accessible and more cost-effective than fossil fuels for the first time. The company recently closed $83 million in funding, an oversubscribed round that is in addition to $25 million raised in the previous round. Among the new investors in Heliogen are ArcelorMittal, the world’s leading steel and mining company (NYSE: MT), Edison International, breakthrough scientific startup-focused venture capital firm Prime Movers Lab, Canada-based privately held venture capital fund Ocgrow Ventures, A.T. Gekko, a private investment group specializing in ESG Venture Capital, private investment partnership of industry-leading families 8090 Partners, Gordon Crawford, and technology, consumer, and media-focused investor Rashaun Williams.