SHEC Energy Awarded a Grant for Approximately $40 Million

SHEC's solar thermal generation technology is the most efficient in the world and has attracted a grant for approximately $40 million

The mobile pilot plant consisted of a solar concentrator that concentrated sunlight by a factor of up to 5,000, directing it into a solar receiver to be harnessed. Despite the intense solar energy conditions endured by the receiver, it was found to be in pristine condition. Although several minor wear issues were identified and resolved, ultimately the core technology performed flawlessly, proving ready for commercialization.

Commercial-scale systems will concentrate sunlight by factors of up to 16,000.

Shortly after the examination of this technology by the government agency, the grant was awarded. SHEC is required to raise matching funds of $60 million in order to access the grant. The funds will be used to establish manufacturing operations that could produce up to 100 megawatts of solar thermal station components per year.

At this time, SHEC is unable to disclose the identity of the source of the grant.

About SHEC Energy:
SHEC Energy Corporation (formerly SHEC LABS - Solar Hydrogen Energy Corporation) underwent a name change to reflect the more general energy nature of its business. Although SHEC developed its solar technology initially for the production of hydrogen, power generation has become the primary application today. The advantage of Solar Thermal power generation is the ability to co-generate other forms of energy at the same time with negligible additional cost. This includes applications for heating, cooling and water desalination. Additionally thermal energy can be stored to produce power when the sun is not shining. Additional information about SHEC Energy may be found at www.SHEC.ca.