UPDATE: Athena Technology Acquisition (ATHN) and Heliogen Collaborate with CarbonCapture Inc to Develop Facilities That Remove Carbon Dioxide Directly from the Atmosphere

(Updated - December 22, 2021 7:04 AM EST)

Heliogen, Inc. a leading provider of AI-enabled, modular concentrated solar energy systems, today announced plans to collaborate with CarbonCapture Inc. (“CarbonCapture”) to develop sustainably-powered direct air capture (DAC) facilities.

As part of the relationship, the companies intend to kick off front-end engineering for the integration of Heliogen’s concentrated solar power and solid media thermal storage systems with CarbonCapture’s carbon removal technology. The aim of the development efforts would be to efficiently and cost-effectively harness the industrial heat production capabilities of Heliogen systems for use in CarbonCapture DAC systems.

“Heliogen’s revolutionary concentrated solar systems pair well with our breakthrough DAC technology — they are both modular, so they can be quickly sited and rapidly scaled,” said CarbonCapture CEO, Adrian Corless. “Providing clean energy to our DAC systems allows for highly efficient carbon removal—which is exactly what’s needed to maximize our ability to mitigate the effects of climate change.”

Both companies were founded under a decarbonization mission: Heliogen to decarbonize industry and CarbonCapture to decarbonize the atmosphere. The companies work toward complementary ends — Heliogen in reducing the pace and quantity of industrial carbon emissions and CarbonCapture in removing legacy emissions from the atmosphere. Both companies also grew out of Idealab Studio, another venture of Idealab founder and Heliogen CEO, Bill Gross.

“My goal in starting Heliogen was to improve the planet for my kids, and future generations, by producing clean energy to power industry,” said Bill Gross, CEO of Heliogen. “I am excited to bring the complementary technologies of CarbonCapture and Heliogen together. Direct air capture will be an important tool in the removal of carbon dioxide from the Earth’s atmosphere, and the reversal of some of the worst impacts of climate change. Powering that effort through clean, reliable, and near-always available solar generated power and heat multiplies the good we can do for the world.”

About Heliogen

Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit heliogen.com.

On July 6, 2021, Heliogen entered into a definitive business combination agreement with Athena Technology Acquisition Corp. (NYSE: ATHN). Upon the closing of the business combination, Heliogen will become publicly traded on the New York Stock Exchange under the new ticker symbol “HLGN”. Additional information about the transaction can be viewed here: heliogen.com/investor-center.

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