U.S. Department of Energy Announces $145 Million for Skyven Technologies to Decarbonize Industrial Steam

DOE funding will catalyze Skyven steam-generating heat pump installations at US
manufacturing facilities to eliminate over 400,000 metric tons (MT) of CO₂  annually

RICHARDSON, Texas, March 25, 2024 /PRNewswire/ -- Skyven Technologies, Inc., an Energy-as-a-Service (EaaS) company pioneering steam generating heat pump technology, has been selected for award negotiations up to $145 million from the Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED). The unprecedented funding will address critical climate challenges by accelerating the installation of cutting-edge Skyven Arcturus industrial steam-generating heat pumps (SGHPs) at manufacturing facilities across the United States.

"Spurring on the next generation of decarbonization technologies in key industries like steel, paper, concrete, and glass will keep America the most competitive nation on Earth," said U.S. Secretary of Energy Jennifer M. Granholm. "Thanks to President Biden's industrial strategy, DOE is making the largest investment in industrial decarbonization in the history of the United States. These investments will slash emissions from these difficult-to-decarbonize sectors and ensure American businesses and American workers remain at the forefront of the global economy."

Skyven Arcturus electrifies steam production, generating boiler-quality steam with zero on-site emissions. Arcturus leverages high efficiencies to counteract the price difference between electricity and natural gas, allowing industrial manufacturers across the US to profitably reduce their emissions. In total, the funding will support Arcturus installations to eliminate over 400,000 metric tons (MT) of carbon dioxide (CO₂) emissions annually and improve air quality across the US.

"We are honored to be one of the groundbreaking projects selected by the DOE. Funding of this magnitude will dramatically accelerate the decarbonization impact that we will achieve with Skyven Arcturus," said Arun Gupta, Founder and CEO of Skyven Technologies. "We are proud and excited to deploy our steam-generating heat pump, to improve the global competitiveness of American manufacturing, and to enable a clean, more equitable future for all Americans."

Along with decarbonizing industrial steam, Skyven is committed to ensuring that the communities surrounding these manufacturing facilities receive the benefits of this funding. Skyven Arcturus projects will improve local air quality and enhance the quality of life for the over 330,000 people living in neighboring communities. These projects will create jobs across the United States, helping to develop a diverse and skilled workforce for future industrial heat pump projects.

"Industrial heat pumps have the opportunity to improve efficiency and dramatically cut emissions from industrial thermal processes," said Blaine Collison, Executive Director at the Renewable Thermal Collaborative. "It is great to see Skyven removing major market barriers through the combination of their Arcturus industrial heat pump, innovative financial model, and workforce development actions."

About Skyven Technologies
Skyven Technologies is an Energy-as-a-Service company with a mission to decarbonize industrial process heat. Skyven works with manufacturers in hard-to-decarbonize industries to reduce their onsite CO₂ emissions by delivering clean, emissions-free process heat at prices lower than natural gas. Skyven installs their Arcturus line of steam generating heat pumps, with no capital cost to the manufacturer. For more information, visit https://skyven.co/. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/us-department-of-energy-announces-145-million-for-skyven-technologies-to-decarbonize-industrial-steam-302098082.html

SOURCE Skyven Technologies