Iron Fuel Technology
Energy intensive industries, district heating and electricity plants feel pressure to decarbonize. To do this they currently have two alternatives: Hydrogen or electrification. In 80% of the cases in 2030, and 60% of cases in 2050, these alternatives cannot be used because of the following problems: (1) An insufficient or absent grid connection, (2) technical or regulatory standards are not met or (3) Price instability or lack of guarantees.
Hence, they have no viable solution and are facing concequences, in the form of costs, revenue loss or penalties.
Our mission is to decarbonize district heating, industrial processes and electricity plants – the Achilles heel of the energy transition. Our goal is to reduce the global carbon footprint by 1 Gigaton of CO2 in 2050. To do so, we develop and exploit Iron Fuel Technology™. Iron fuel is a circular clean tech, long duration energy carrier. We are developing the complete, circular energy system. Our iron fuel boiler generates CO2 free heat at our customers location, by burning (rusting) the iron fuel. The residual rust is transported via truck or ship to an iron fuel production location. Here, we convert the rust into iron fuel using hydrogen.
Iron Fuel Technology is unique as it can be used in situations where other alternatives like hydrogen or electrification cannot be used. It requires no grid connection, has no CO2 emissions, low NOx emissions, transport and storage are cheap and easy. It has a compatible and stable prices, and supply certainty.
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