MGA Thermal secures new ARENA funding


Staff reporter

Australian thermal energy storage company MGA Thermal has secured a further A$2.48 million of funding from the Australian Renewable Energy Agency (ARENA).

It said the new funding, which tripled project backing received from the federal agency, was a “strong vote of confidence in the viability of MGA Thermal’s steam-dispatch thermal energy storage technology”.

“With a prior investment of $1.27 million from ARENA, MGA Thermal is primed to leverage this renewed support to resume the commissioning of its demonstration unit,” the company said.

MGA Thermal CEO Mark Croudace said the firm remained focused on addressing challenges faced by hard-to-abate industries.

“The world’s Industrials are at a critical juncture in their renewable energy, decarbonisation journey, and we believe MGA Thermal will play a key role in enabling renewable generation to meet their needs,” he said.

“A behind-the-meter energy storage solution that helps balance utility-scale renewables with distributed energy storage is vital for Australia to effectively manage the evolving supply-demand dynamics of a clean energy future.

“With support from ARENA, we’re getting closer to recommissioning our demonstration unit and starting to scale up for commercial deployment.”

 

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