In a significant development in the renewable energy sector, Chevron has partnered with MGA Thermal, an Australian startup based in New South Wales, to conduct a real-world trial of its clean steam technology. This collaboration marks MGA's first major customer win and is set to test a 5 megawatt-hour (MWh) system that generates process-grade steam using renewable energy. The technology operates at temperatures ranging from 150°C to over 550°C, showcasing its versatility and potential for industrial applications. The co-founders of MGA Thermal, Erich Kisi and Alexander Post, originally developed this innovative technology at the University of Newcastle, emphasizing its academic roots and research-driven approach.
Chevron's commitment to decarbonization is underscored by this partnership, as highlighted by Luc Huyse, a representative from the company. The trial follows a previous incident at MGA's pilot plant in Tomago, which has prompted the company to refine its technology further. MGA Thermal has previously secured $8 million in investment in 2021, with additional funding rounds totaling $28.8 million, demonstrating strong investor confidence in its clean energy solutions.
This collaboration aligns with the broader trend of integrating innovative energy storage technologies into the renewable energy landscape. As the demand for sustainable energy solutions grows, partnerships like this one between Chevron and MGA Thermal are crucial in advancing the development and deployment of effective energy storage systems that can support the transition to a low-carbon economy. The success of this trial could pave the way for more extensive applications of thermal storage technologies in various industrial sectors, contributing to global decarbonization efforts and enhancing energy efficiency.