The Hyperlight offering is now closed and is no longer accepting investments.

Hyperlight

Breaking through the cost barrier in solar steam

Hyperlight

Breaking through the cost barrier in solar steam

Lakeside, CA
Engineering
Clean Technology
Hyperlight has developed a breakthrough low-cost concentrated solar power (CSP) technology – Hylux™. We’ve just signed a contract to demonstrate a world first application of this technology, to decarbonize oil production at the well site, while simultaneously storing massive amounts of solar energy in the geological formation under the wells. Called Tectonic Sun™ Alpha, this project is planned to demonstrate the technical potential of an unprecedented six-months of solar energy storage – it’s “solar power, but with an on/off switch.”

$334,471

raised
131
Investors
$45M
Valuation
$5.83
Price per Share
$291.50
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left

$334,471

raised
131
Investors
$45M
Valuation
$5.83
Price per Share
$291.50
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on May 01, 2022 and is no longer accepting investments.

Reasons to Invest

$14 million-funded product — We developed our product with Research, Development and Demonstration (RD&D) funding support from the United States Department of Energy, Sunshot® program, California Energy Commission, and the Southern California Gas Company RD&D Program.
Successful Projects — Hyperlight has built a 500 kilowatt thermal (kWt) demonstration project and held a groundbreaking ceremony for 1.5 megawatt thermal (MWt), first commercial facility. We recently converted an announced MOU of 5 MWt into a signed heat purchase agreement (HPA) for a 6 MWt project – which includes a world first technology demonstration.
Tectonic Sun Alpha – the recently signed 6 MWt HPA includes a world first demonstration of a dispatchable renewable platform, that targets the hardest 1 Gigawatt of the current “historic” California Public Utilities Commission (CPUC) procurement which requires “nascent… and as yet undefined technologies” that can be turned on at any time and generate for as long as needed.

Overview


A world-first technical and commercial breakthrough: Low cost solar with six-month energy storage.

Hyperlight Energy illuminates the new future of concentrated solar power (CSP). Most CSP techno-economic models are expensive and difficult to scale. To solve this problem, we reinvented CSP with our flagship product: Hylux™.  Hylux™ avoids the costly steel and concrete used in traditional CSP with a patent pending design. It relies on domestically produced, pre-fabricated, recyclable plastic structures that are hand-carried and clicked into place onsite for rapid installation.  Deployment of the platform to decarbonize industrial process heat in our target market, California, is driven by aggressive policy support from the Low Carbon Fuel Standard (LCFS) and other programs. 


But this is only half the story.


The LCFS incentivizes Hylux™ deployment at Enhanced Oil Recovery (EOR) sites throughout the state – and simultaneously opens up vast technical and market potential. The company has developed a complementary, patent pending platform: Tectonic Sun™, which stores months’ worth of solar energy in the geological formations at EOR sites.  Tectonic Sun transforms the wells into renewable energy resources that enable power generation which can be switched on at any time and generate for as long as needed. The application of CSP thermal energy for this dual benefit is an industry first. Hyperlight estimates the statewide potential storage capacity of its technology to exceed the output of all the natural gas power plants in California, combined.


Hyperlight Energy has held a groundbreaking on its first commercial customer and has advanced its first Memorandum of Understanding (MOU) for EOR to a signed heat purchase agreement (HPA) contract. This project, called “Tectonic Sun Alpha” is part of the company’s roadmap to develop profitable, emissions free process heat projects while simultaneously expanding into the enormous global power generation market with an industry first technical capability of fully dispatchable, fully renewable power.  The company is pursuing hundreds of megawatts of follow-on projects including process heat only, as well as power generation in its project development pipeline.





the problem


A need for a cheaper decarbonization solution and long duration energy storage

For the wellbeing of our planet, heavy industries like enhanced oil recovery, agriculture and food production, and manufacturing, as well as transportation, are all under immense pressure to reduce harmful emissions, a process known as decarbonization.


Currently, there are no cost-effective renewable solutions that can produce the quality and quantity of heat to meet energy demand for industrial process heat or cost effective power generation with six month storage. 

Hyperlight’s companion technologies tackle these two problems at once.  Decarbonizing industry, in particular, the transportation fuel industry has always been hard, as demonstrated by the aggressive nature of California’s Low Carbon Fuel Standard (LCFS) program. We attack that problem with our low-cost platform, Hylux.  The second problem, currently faced by California, which has one of the first large grids to attempt deep decarbonization, is the intermittent nature of PV and wind and the inherent limits of batteries to solve the problem cost effectively.  The energy storage problem is so significant, that the California Public Utilities Commission (CPUC) has issued what it calls a  “historic” procurement that requires 1 GW from emissions free sources with an 80% capacity factor. PV and wind have 24% and 33% capacity factors, respectively. This renewable energy storage challenge is so significant, that the CPUC itself has called on “nascent or as-yet-undefined technologies.”  The company’s patent pending companion platform, Tectonic Sun, expands on work done by our partner, National Renewable Energy Laboratory (NREL) and is aimed squarely at this problem.

The oil industry in California comprises over 100,000 wells, according to the California Department of Conservation. The company wants to install Hylux at as many of them as possible. As an add on, we hope to use Tectonic Sun at as many of those sites as possible.  Tectonic Sun is an application of NREL’s GeoTES  analysis first described in a seminal paper last year. Applying NREL’s analysis conservatively, Hyperlight estimates the statewide potential storage capacity of its technology to be the equivalent of one billion Tesla Powerwalls, with annual energy production potential over 100 TWh annually, exceeding the output of all the natural gas power plants in California combined. Another exciting aspect of this application is that with solar infrastructure and wells able to remain in place once EOR activity ceases, projects using Tectonic Sun can remain in service to produce this form of low-cost renewable power for the grid indefinitely.




the Market


$8.3 billion thermal energy market in California is just the beginning 


The opportunity in California alone is vast. Spread across multiple industries, the thermal energy market is estimated to be $8.3 billion, according to our research.


California’s food industry alone spends more than $200 billion per year on fuel. This is our beachhead market. That’s why our first commercial-scale installation is at Saputo Inc’s cheese plant in Tulare, CA. This 1.5 MWt project should reduce emissions at the plant by over 500 MTCO2 per year [Hyperlight estimate]. The enhanced oil recovery industry in California spends over $1.3 billion on thermal energy, but this is just the beginning. Entering the global power generation market is our long-term goal. 

It’s measured in trillions of dollars





Other concentrated solar companies have relied on venture capital funds and scaled too quickly. Hyperlight took a different route achieving success in a market of failed CSP companies. The reason? Our research-derived technology and materials.


We kept our projects small and manageable. We worked out kinks before deploying larger projects. We actively sought and won grant funding for the research and development phase  — meaning we could scale on our own timeline without investor pressure.


Hyperlight has conducted a decade of research and development funded by grants from the United States Department of Energy, the California Energy Commission (CEC) and SoCalGas. Hyperlight entered into a royalty agreement with SoCalGas in our early research stages, representing a vote of confidence from a significant and knowledgeable industry participant. 


While we quietly perfected our technology through our extensive R&D, larger players faltered and left the marketplace. 

Tectonic Sun Alpha is a world-first. NREL’s analysis showed the energy capacity of a typical GeoTES installation to be about 146,000 MWhe with a storage duration of 4,000 hours – approximately six months of energy storage – at a fraction of the cost of other approaches. No other technology platform we’ve ever heard of talks about storage beyond 4 days, let alone 4,000 hours.  The company hopes to complete this initial pilot project before any other CSP company can even engineer a competitive offering.


We were able to use small-scale projects first to vet and test our technology without massive investments because it is a fundamentally low-cost platform. The low-cost nature of the platform means we have the additional advantage of scaling up through additional medium-scale projects to continue to follow a rational path to scale. Other metal-mega project CSP companies MUST go to massive scale immediately to justify project economic assumptions – and so face a fundamental and permanent scale-up challenge. 

the solution


A cost-effective, renewable decarbonization solution from concentrated solar power


CSP companies that used concrete and steel experienced notable failures. The cost is simply too high. Our solution is “built different.” 


Instead of steel and concrete, we use domestically produced and recyclable plastic tubing to build our CSP system manufactured in our own factory. Hyperlight Energy offers the most cost-effective solution, built right in sunny California. In response, Hyperlight offers the most cost-effective solution, according to our market research. Every system sold contributes to both company profits and global decarbonization.


Now, by offering a second potential revenue stream based on emissions-free power generation to our existing EOR project pipeline, we hope to drive both deep decarbonization efforts, and profitable growth.  The company’s hope is that using the type of existing infrastructure in place in the EOR industry, Tectonic Sun will enable the geological storage of a 100 percent renewable energy source with an estimated levelized cost of electricity between four and eight cents per kWh. That price point target is lower than other dispatchable renewable technologies the company has seen – even in development stage.




Hyperlight® Energy seeks large customers pursuing decarbonization. Our fundamental business model? Getting paid to both supply equipment and install it. 



Why invest


Lessen the carbon impact of fossil fuels today for a zero-emissions future



We announced an MOU for our first EOR project months ago, and we succeeded in getting it through to a signed contract. This project also makes us the first to announce a project demonstrating an 80% capacity factor renewable energy technology with a target price of 4 to 8 cents per kWh. If we can succeed in our deployment timeline target for Tectonic Sun Alpha, we have a real chance to be the first to build a working pilot. We’ve got over a hundred more megawatts worth of projects still under development. We have patent pending technology that differentiates our approach, and a world class partner in NREL.  The State of California has made it clear there is a pressing need for technology like this in its historic procurement calling on “nascent and as-yet-undefined technology.”  With Tectonic Sun Alpha we aspire to blaze a trail in renewable storage similar to what other notable companies in EV’s and solar have done – as the best, biggest, break-out company in a transformational industry. We hope you’ll join us.



Sources: US DOE, Sempra, HyperLight Energy, NewsData, NREL



 



Sources: The Business Research Company


THIS WEBPAGE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.


In the Press

California Energy Markets

CEC Approves New Solar Power Plant at Large Cheese Factory

Offering Summary


Company

:

Hyperlight Energy Inc.

Corporate Address

:

11651 Riverside Dr., Suite 143, Lakeside, CA 92040

Offering Minimum

:

$9,998.45

Offering Maximum

:

$1,069,991.56

Minimum Investment Amount

(per investor)

:

$291.50











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

1,715

Maximum Number of Shares Offered

:

183,532

Price per Share

:

$5.83

Pre-Money Valuation

:

$45,009,827.06











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Company Perks*

Time-Based:

Friends and Family Early Birds

Invest within the first 72 hours and receive an additional 20% bonus shares

Super Early Bird Bonus

Invest within the first week and receive additional 15% bonus shares

Early Bird Bonus

Invest within the first two weeks and receive an additional 10% bonus shares

Amount-Based:

$1,000+

1% Bonus Shares

$2,500+

2% Bonus Shares 

$5,000+

3% Bonus Shares

$10,000+

4% Bonus Shares

*All perks occur when the offering is completed.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for, with the exception of “audience-based” bonuses. If a company offers an “audience-based” bonus, this bonus only will stack with any other bonus you are eligible for.

An “audience-based” bonus is a bonus that is available to a qualified group of investors based on campaign-specific criteria - such as previous investors, existing customers, or Testing-the-Waters (TTW) reservation holders. An issuer can only offer a single audience-based bonus. For example, a 10% audience-based bonus (i.e. prior investors) + a 10% OWNer’s bonus would receive an aggregate of 20% bonus shares.

The 10% StartEngine Owners' Bonus

Hyperlight will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $5.83 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $583. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.



Voting Rights of Securities Sold in this Offering

Each Investor shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Investor’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Investor, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Investor pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Investor is an individual, will survive the death, incompetency and disability of the Investor and, so long as the Investor is an entity, will survive the merger or reorganization of the Investor or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Offering Disclosure

Michael Mazaika, a member of the Board of Directors of the Company has invested $25,004.87 in the Company’s current Reg CF offering.

The Company will not incur any irregular use of proceeds.


Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,876,001.00 USD
$750,818.00 USD
Cash And Cash Equivalents
$514,724.00 USD
$178,501.00 USD
Accounts Receivable
$1,273,830.00 USD
$495,197.00 USD
Short Term Debt
$21,175.00 USD
$38,022.00 USD
Long Term Debt
$508,550.00 USD
$1,109,232.00 USD
Revenues And Sales
$883,228.00 USD
$372,191.00 USD
Costs Of Goods Sold
$722,612.00 USD
$432,612.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$742,879.00 USD
-$432,194.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Thank you!

10 days ago

Now that our campaign has closed, I'd like to say two things.

First, Thank you to our investors, we're pleased and proud to have you aboard!

Second, we're thrilled to have signed a heat purchase agreement (HPA) with our world first demo site, Hathaway LLC to demo our breakthrough platform, Tectonic Sun.  This is a key first step in the process of deploying a new technology and we're hard at work on the next steps.  Our plan going forward is to share updates with our investors about twice a quarter, so stay tuned.

We'll be sending updates through this email address which will be used for investor questions as well: investors@hyperlightenergy.com  

We're looking forward to great things to come!

Best regards from the whole Hyperlight team!

John 

Campaign Closing Soon

26 days ago

Dear Current and Potential Investors,

Our campaign is closing soon, on April 30th.  I’m thrilled to have your involvement. With the oil industry facing the dual pressures to produce more oil because of energy security concerns, while at the same time being pressured to decarbonize, I believe that Hyperlight has a unique opportunity because we address both needs.  We are decarbonizing existing oil production infrastructure now while at the same time offering a potential for a fully decarbonized future use of that same infrastructure.

People are starting to realize this, with coverage in The Wall Street Journal and Forbes for example.

If you haven’t invested yet and are considering it, or if you have invested and are considering increasing your investment, now’s the time to act.  Thanks for your involvement, and I look forward to great things to come!

Sincerely,

John King

Co-Founder and CEO

Wall Street Journal covers Hyperlight

27 days ago

Great article in The Wall Street Journal on Sunday, featuring new opportunity for CSP.  Hyperlight's Tectonic Sun Alpha project is covered.

https://www.wsj.com/articles/different-kind-of-solar-power-attracts-attention-11650476240

Hyperlight featured on Cleantechis podcast with Silas Mahner

about 1 month ago

John King to speak at NREL Industry Growth Forum

about 2 months ago

Looking forward to speaking at @NREL’s Industry Growth Forum alongside fellow cleantech innovators!💡 To tackle the clean energy transition’s most pressing challenges requires grit, ingenuity and collaboration. I’ll be sharing experiences of all three, and talking about Hyperlight’s partnership with the leading U.S. renewable energy lab to harness solar energy and geological storage to generate emission-free electricity while reducing carbon emissions at oil recovery sites. 

Wednesday April 13 at 10a ET.

#IGF22 #cleanenergy #cleantech #energystorage #carbonemissions #netzero 

New Promotional Video Describing Tectonic Sun Alpha

2 months ago

Dear current and future investors,

The whole team here at Hyperlight is excited to launch a major campaign update today.  Tell everyone you know! Please check out our new campaign video at the top of the campaign page.  We're excited to have gotten covered by Forbes for this breakthrough project and looking forward to exciting things to come!

Best regards,

John

Forbes covers Tectonic Sun Alpha

3 months ago

We're thrilled to have our world first demonstration project - Tectonic Sun Alpha - covered by Forbes on March 7th.


https://www.forbes.com/sites/kensilverstein/2022/03/07/concentrated-solar-power-could-give-oil-companies-a-second-revenue-stream/?sh=5917b271c671

Tectonic Sun(TM) Covered by POWER Magazine

3 months ago

We're thrilled to have been covered by POWER Magazine's Darrell Proctor:

https://www.powermag.com/solar-developer-has-plan-to-turn-oil-wells-into-energy-storage/

Solar Developer Has Plan to Turn Oil Wells Into Energy Storage


A California developer of concentrated solar power (CSP) systems has announced an innovation that it says combines the company’s technologies to turn existing oil wells into energy storage sites that can provide clean energy.

Hyperlight Energy on Feb. 24 said it was launching Tectonic Sun, an electricity generation technology that when paired with the company’s Hylux solar thermal solution can provide “zero-carbon electricity” from oil wells “while reducing emissions during the extraction process at enhanced oil recovery [EOR] sites.” Hyperlight on Thursday said the new system “is capable of providing emissions-free power with 80% capacity factor for use at any time of day or night throughout the year.” (Go here to view a video detailing how the technology works.)

The company has a technology demonstration project, Tectonic Sun Alpha, at a Hathaway oil drilling site in Bakersfield, California. Hathaway is an independent, Bakersfield-based drilling company that operates six oil and gas fields in Kern County, California.

Repurposing Oil Wells

“The industry is increasingly embracing the concept of cost reduction through repurposing oil wells, as shown by the Department of Energy’s Geothermal Technology Office [GTO] recently announced group of projects aiming to use old oil wells to access traditional geothermal-based heat, and Southern Company’s research collaboration with innovator Petrolern, to ‘Convert Oil Wells to Geothermal Resources’,” said John King, CEO of Hyperlight Energy. (The DOE last year announced as much as $46 million to support other geothermal projects.)

Hyperlight in a news release said the application of CSP thermal energy for power generation and emissions reduction “is an industry first,” adding that the company “estimates the statewide potential [energy] storage capacity of its technology” would exceed the combined generation from California’s natural gas-fired power plants. Hyperlight said the Bakersfield demonstration “builds on groundbreaking analysis work on geological thermal energy storage (GeoTES) performed by Hyperlight partner, [the] National Renewable Energy Laboratory [NREL].”


King told POWER, “We are referencing an analysis done by NREL in this seminal paper [purchase required for the full paper] from last year. We worked with NREL to establish estimates for scaling this up at EOR retrofit sites.” King said an optimal configuration, based on the NREL analysis, “establishes a figure for analysis of 36.5 MWe for a representative plant. The paper assumed 24 wells per MWe. NREL and Hyperlight bumped this up to 50 wells per MWe for no particular technical reason other than simple conservatism. We then assumed [again, for no reason other than conservatism] that only 1 in 5 of the 100,000 wells in California could be used for this application at 80% capacity factor, or 7,000 hours per year.”

King provided this calculation: 7,000 hours x .75 MWhe/well x 20,000 wells = 105 TWhe/year.

He noted the calculation “yields >100 TWhe of power production per year. The total combined output of all the natural gas power plants in the state, combined, was 98 TWhe in 2018,” according to the state. King said the NREL analysis showed the energy capacity of a typical GeoTES installation is about 146,000 MWhe, with a storage duration of 4,000 hours—about six months of energy storage—at a much smaller cost than any other approach (NREL’s paper estimated 10¢/kWh to 16¢/kWh). Hyperlight in its Thursday news release said that “Unlike other emerging technologies that offer only hours or days of storage based on one or two years of data and modeling, EOR has six decades of operation at scale by the world’s largest energy companies, with existing study data showing breakthrough round-trip thermal efficiency.”

King said the NREL analysis “was for a greenfield project,” and his company’s technology would bring costs down even more. “We are going in at EOR retrofits, where the wells and thermal infrastructure are already built, and where there are existing cogen plants with transmission infrastructure in place,” he said. “Further, we are leveraging the LCFS [California’s Low Carbon Fuel Standard program] to offset the cost of the CSP field. All of these factors are what combine to significantly reduce the costs below the NREL-estimated 10¢ to 16¢/kWh, down to 4¢ to 8¢/kWh.”

Different from Other Geothermal Well Projects

King told POWER his company’s technology differs from other geothermal projects at oil and gas wells, such as those being developed for bitcoin mining. “I am familiar with it in terms of the surplus natural gas at a lot of sites, which is often simply flared off,” King said. “If one were to put a microturbine at a site to burn that same surplus gas to generate power, you could use that power to perform the mining.”

King said Hyperlight’s Tectonic Sun Alpha “is different in multiple, important ways,” namely:

  • “The Department of Energy’s GTO is exclusively focusing on oil/gas wells where the rock is already hot, and the existence of the wells provides access that would not otherwise be feasible. It is not adding heat with a surface technology the way Hyperlight is with its Hylux/Tectonic Sun platform. This means that Hylux/Tectonic Sun is not restricted to geology that is already hot.”
  • “The bitcoin mining example still relies on burning fossil fuels, whereas with Hylux/Tectonic Sun we are using zero-carbon solar heat at the beginning of the process and creating zero-carbon power at the end of the process.”
  • “We are focusing on EOR projects that are still in service. This is both a technical and business innovation. It is a technical innovation because it allows a dual use of the existing EOR sites enabling two simultaneous low-carbon technical applications. Second, it is a business innovation because it decarbonizes existing oil production, which is a necessary part of the energy transition, and improves project economics by tapping into the incentives offered by the [LCFS] program.”

“The methods of action of thermal EOR (tEOR) and CO2 EOR are fundamentally different,” King said. “In tEOR, sensible heat is used to reduce the specific gravity of heavy oil so it can flow to the production wells—and CSP has already been technically proven for this application. CO2 EOR largely relies on pressure to force the oil to the production wells, and CCS [carbon capture and storage] is much earlier in development stages for this application. Thermal losses are a lot lower than pressure losses at these sites, so roundtrip energy efficiency in tEOR can be much higher than for CO2 EOR.”

He added, “In this approach we are using geothermal as the energy storage medium, not the power generation source. The solar-injected heat naturally captured in the rock surrounding the oil wells is what is being leveraged to generate power for applications beyond the oil/gas well operations. You don’t need to only do this where the rock is already hot.”

The Hyperlight project comes as California looks for more renewable power generation, with state regulators calling for at least 1 GW from emerging and nascent technologies as part of an overall goal of 11.5 GW of clean energy. The California Dept. of Conservation said the state’s oil and gas industry has more than 100,000 wells. Hyperlight on Thursday said having solar power infrastructure in place at wells provides for renewable energy output even after EOR activity ends.

“Tectonic Sun Alpha reshapes the way we think about long-duration storage and has transformative potential not just for California’s grid, but for the oil and gas industry throughout the state,” said King. “Unlike oil and gas projects which eventually run dry, a GeoTES project will never run out of sunlight. We believe Tectonic Sun Alpha can offer a blueprint to retrofit the tens of thousands of existing oil wells in California with solar thermal energy to produce a significant new source of cost effective, non-intermittent clean power.”  

Darrell Proctor is a senior associate editor for POWER (@POWERmagazine).


Notice of Material Change in Offering

3 months ago

[The following is an automated notice from the StartEngine team].

Hello! Recently, a change was made to the Hyperlight offering. Here's an excerpt describing the specifics of the change:


Issuer is extending campaign.


When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.

Hyperlight Energy Launches Tectonic Sun(TM) to Decarbonize Oil Wells, Leverage Them for Zero-Carbon Power Generation

3 months ago

Dear current and future investors, 

The day is finally here and I'm pleased to share exciting news.  The MOU we had previously announced has been converted to a signed contract. The contract includes a world first demonstration.  See below for the body of a press release going out today.

Best regards,

John

Hyperlight Energy Launches Tectonic SunTM to Decarbonize Oil Wells, Leverage Them for Zero-Carbon Power Generation

Hyperlight launching first pilot plant in California to demonstrate its new application of concentrated solar paired with 6-month duration geothermal storage, establishing a new massive renewable energy resource

SAN DIEGO, Calif., February 24, 2022 – Hyperlight Energy, the developer of the world’s lowest-cost concentrated solar power (CSP) technology, today announced the launch of Tectonic Sun™, a technology for electricity generation that is being paired with its flagship solar thermal solution, Hylux™. Tectonic Sun is capable of providing emissions-free power with 80 percent capacity factor for use at any time of day or night throughout the year. The combination of Hylux and Tectonic Sun turns existing oil wells into clean energy generators, providing zero carbon electricity while reducing emissions during the extraction process at Enhanced Oil Recovery (EOR) sites. The application of CSP thermal energy for this dual benefit is an industry first. Hyperlight estimates the statewide potential storage capacity of its technology to exceed the output of all the natural gas power plants in California, combined.

Hyperlight is building its first pilot installation, called Tectonic Sun Alpha, in Bakersfield, California. This demonstration builds on groundbreaking analysis work on geological thermal energy storage (GeoTES) performed by Hyperlight partner, National Renewable Energy Laboratory (NREL). The analysis showed the energy capacity of a typical GeoTES installation to be about 146,000 MWhe with a storage duration of 4,000 hours – approximately six months of energy storage – at a fraction of the cost of any other approach. Unlike other emerging technologies that offer only hours or days of storage based on one or two years of data and modeling, EOR has six decades of operation at scale by the world’s largest energy companies, with existing study data showing breakthrough round-trip thermal efficiency.

 

“Tectonic Sun Alpha reshapes the way we think about long duration storage and has transformative potential not just for California’s grid, but for the oil and gas industry throughout the state,” said John King, co-founder and CEO of Hyperlight. “Unlike oil and gas projects which eventually run dry, a GeoTES project will never run out of sunlight. We believe Tectonic Sun Alpha can offer a blueprint to retrofit the tens of thousands of existing oil wells in California with solar thermal energy to produce a significant new source of cost effective, non-intermittent clean power.”

 

Hyperlight aims to unlock the full potential of GeoTES by expanding deployment of Hylux and Tectonic Sun to lower the cost and boost the performance of these applications at existing EOR project sites. With support from California’s Low Carbon Fuel Standard (LCFS) program, Hyperlight has signed a Heat Purchase Agreement (HPA) with Hathaway LLC, a Bakersfield, CA based independent oil producer, for the development of the pilot project that will demonstrate Hyperlight’s technology and reduce emissions at Hathaway’s EOR site.

 

Using this type of existing infrastructure will enable the geological storage of a 100 percent renewable energy source with an estimated levelized cost of electricity between four and eight cents per kWh. With the low-cost storage medium and charge/discharge cycling that operates on a scale of months and years rather than hours and days, this application of GeoTES is to be highly competitive with existing sources of renewable generation being used today. 

 

Hyperlight’s new project comes at a pivotal time in the energy transition with The California Public Utilities Commission requiring 11.5 Gigawatts of renewable energy, including at least 1 GW from emerging and nascent technologies. Meanwhile, the oil industry in California comprises over 100,000 wells, according to the California Department of Conservation. Applying NREL’s GeoTES analysis conservatively, Hyperlight estimates the statewide potential storage capacity of its technology to be the equivalent of one billion Tesla Powerwalls, with annual energy production potential over 100 TWh annually, exceeding the output of all the natural gas power plants in California combined. With solar infrastructure and wells able to remain in place once EOR activity ceases, projects like Tectonic Sun Alpha can remain in service to produce this form of low-cost renewable power to the grid indefinitely. 

 

About Hyperlight
Hyperlight Energy has developed the world’s lowest-cost solar steam technology. The company’s flagship product, Hylux™, is built in its San Diego-based manufacturing plant using domestically sourced recyclable plastic. Hyperlight continues to work with world-class scientific and utility organizations to accelerate the global energy transition. Hyperlight is currently conducting a private placement offering in accordance with Regulation Crowdfunding (RegCF) adopted by the Securities and Exchange Commission, through StartEngine. For more information visit www.hyperlightenergy.com

 

Media Contact

Annika Harper

Antenna Group for Hyperlight Energy

hyperlight.energy@antennagroup.com 


Hyperlight Energy Signs Exclusive License with National Renewable Energy Laboratory for Novel Receiver Design Technology

3 months ago

We're pleased to announce the latest benefit to our decade long partnership with NREL.  See below press release regarding a recent exclusive technology license we signed with NREL.  We have much bigger news we're working on, stay tuned!


https://www.globenewswire.com/news-release/2022/02/10/2383177/0/en/UPDATE-Hyperlight-Energy-Signs-Exclusive-License-with-National-Renewable-Energy-Laboratory-for-Novel-Receiver-Design-Technology.html

SAN DIEGO, Feb. 10, 2022 (GLOBE NEWSWIRE) -- Hyperlight Energy, a developer of Hylux™, the world’s lowest-cost concentrated solar power (CSP) technology, today announced that it has signed an exclusive license agreement with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) for its patented receiver design technology. The design improves the performance of linear Fresnel reflector (LFR) receivers used in Hyperlight’s CSP platform.

The improved performance facilitated by NREL’s receiver design, combined with Hyperlight’s low-cost reflector system, will increase the value of the Hylux platform for customers. Hyperlight is prioritizing rapid optimization and deployment of this technology at a time when companies and industries are pushing through the world’s toughest decarbonization challenges.

“We’ve worked in partnership with NREL on our in-house developed world-beating low-cost reflector system for close to a decade,” said John King, CEO and cofounder of Hyperlight Energy. “We’re thrilled to now be executing on our plan to add best-in-class performance to our offering by integrating their proprietary receiver design methodology into Hylux.”

Traditional CSP projects require large quantities of expensive steel to construct, leading to scalability challenges. By contrast, Hyperlight makes Hylux using domestically sourced recyclable plastic. Hylux can be installed on-location and designed to fit a range of industrial settings. The end result is a platform which uses mirrors to capture and reflect the sun’s heat, generating steam to efficiently power industrial processes, manufacturing, oil extraction and more.

“The new technology from NREL offers a breakthrough in design methodology that optimizes optical capture, with no additional cost for the hardware,” said Guangdong Zhu, inventor and senior engineer at NREL. “Up until now, the receiver design process started with an equation followed by a ‘guess-and-check’ approach through optical modeling of multiple iterations of the curve. However, the best way to do it is to use optical modeling from the start and let that tell you the optimal design with no guess work involved. You end up with the same material and production cost, but with a boost in performance for free.”

In 2021, Hyperlight held a groundbreaking ceremony for its first commercial project at Saputo Inc.’s cheese production plant in Tulare, CA. The project is funded by the California Energy Commission and deploys Hylux to provide a portion of the heat necessary in Saputo’s cheese-making processes via a 1.5-acre solar array. The company also has an MOU for a thermal enhanced oil recovery (EOR) project to decarbonize the transportation supply chain as well as multiple additional projects in the pipeline.


Hyperlight on Energy Transitions Solutions Podcast with Joe Batir

4 months ago
Hyperlight is excited to have had the opportunity to be on the Energy Transitions Solutions Podcast with Joseph Batir. Joe has a really realistic viewpoint on how we transition to renewable energy, and how we keep the lights on in the process. Fossil fuels are widely used now, but there’s a growing list of technologies and companies integrating with and decarbonizing fossil fuels in concert with the industry. It was really fun to be able to talk in some depth about our company’s journey doing that. Both where we came from and where we’re going. If you have a chance, please give it a listen.

Apple: https://podcasts.apple.com/us/podcast/concentrated-solar-power-with-hyperlight-ceo-john-king/id1580441929?i=1000548133504 

Spotify: https://open.spotify.com/episode/1QHsv5KhSJ0AX8r9wkeEpp 


Board Member reinvests $25K

5 months ago

Greetings to all our new investors.  I've been excited to see early progress on this campaign.  Our Board Member Mike Mazaika just put $25K in on the campaign.  I appreciate the continuing confidence from him!

Hyperlight's Saputo Project covered in Food Engineering Magazine

5 months ago

It's nice to see a positive response to our project with Saputo Inc. in the press covering the food industry.

https://www.foodengineeringmag.com/articles/99906-saputo-usa-and-hyperlight-partner-to-launch-an-innovative-low-cost-solar-thermal-technology


Advancements with Ted Danson, on CNBC featured Hyperlight Energy on 12-18-21

5 months ago

We're thrilled to share the link to the latest episode of Advancements with Ted Danson.  This episode aired on CNBC on Dec. 18th, and featured Hyperlight Energy.  https://vimeo.com/650434745

Advancements with Ted Danson, on CNBC features Hyperlight Energy

5 months ago

Hyperlight Energy is thrilled that we were just featured on Advancements with Ted Danson on CNBC.  If you missed the airing, you can see our segment here, at this link: https://vimeo.com/657143923/3e97efc178

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