The startup develops a thermal energy storage system that utilizes patented thermal storage media and a unique charging process to enhance the efficiency of renewable energy sources. This technology addresses the challenge of energy intermittency by providing a cost-effective solution for reliable energy delivery.
Funding
$3.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Solar and wind energy sources are intermittent, creating energy gaps when the sun doesn't shine or the wind doesn't blow. Effective and reliable energy storage is needed to decarbonize the electricity supply and address the climate crisis. Current energy storage solutions, like lithium-ion batteries, face challenges related to degradation, environmental impact, and reliance on volatile supply chains.
Solution
Photon Vault provides an energy storage solution that addresses energy intermittency by storing heat energy, which can be harvested from various sources, including solar thermal power and industrial waste heat. The system utilizes a custom-engineered composite material for heat storage, avoiding exotic or rare materials and ensuring supply chain robustness. To discharge the stored energy, the temperature gradient is converted into a pressure gradient that drives a standard generator. The Photon Vault's design allows it to output more electricity than it pulls from the grid by adding thermal energy.
Target Audience
The primary target audience includes energy providers, grid operators, and industrial facilities seeking efficient and environmentally sound energy storage solutions to enhance the reliability of renewable energy sources and utilize waste heat.
Features
- Proprietary energy storage media built from a custom-engineered composite material.
- Compatibility with various heat sources, including solar thermal and industrial waste heat.
- >100% round trip electrical efficiency by drawing on a heat energy source.
- Temperature gradient to pressure gradient conversion for energy discharge.
- Off-the-shelf components for all system parts except the storage media and solar heat collector.
- Storage media that does not degrade from cycle to cycle.