FeX Energy develops an iron-based energy storage solution that retains renewable energy for extended periods, from days to years, and delivers it at high temperatures up to 900 °C. This technology enables industries to reduce greenhouse gas emissions and operational costs while providing a quick payback period through efficient energy management.
Funding
Funding not disclosed
Founders
Product
Problem
Many industries lack cost-effective and safe solutions for storing renewable energy for extended durations (days to years) and delivering it at high temperatures, hindering their transition to sustainable energy sources and increasing their exposure to CO2 tax obligations. Existing energy storage methods often suffer from energy losses over time, space constraints, safety concerns, and limited temperature ranges.
Solution
FeX Energy offers an iron-based energy storage system designed for long-duration renewable energy storage and high-temperature energy delivery. The technology stores energy in a stable, dense form, enabling storage from days to years with minimal losses. The system can deliver energy at temperatures up to 900°C, making it suitable for various industrial processes, building heating/power, and heavy transport applications. By using iron, the solution provides a safe, emission-free, and cost-effective alternative to traditional fossil fuels and other energy storage methods, reducing operational costs and CO2 tax obligations.
Target Audience
The primary target audience includes industries with high thermal energy demands, such as petrochemical crackers, petroleum refiners, building operators, off-grid power providers, and heavy transport vehicle manufacturers, seeking to decarbonize their operations and reduce energy costs.
Features
- Iron-based energy storage medium for safe and stable long-duration storage
- High-temperature energy delivery up to 900°C
- Modular design adaptable to diverse power requirements
- Compact energy storage with high energy density
- Emission-free operation, reducing greenhouse gas emissions
- Quick payback period due to the cost-effectiveness of iron
- Safe operation, free from harmful emissions, toxicity, corrosivity, and volatility