LONDON, June 26, 2024 /PRNewswire/ – Today at the Breakthrough Energy Summit, Rondo Energy, in collaboration with Breakthrough Energy Catalyst, the European Commission, and the European Investment Bank, announced €75 million in funding for three industrial decarbonization projects in Europe. These projects are set to advance the production of clean energy, including sustainable aviation fuel (SAF), positioning the UK and Europe as leaders in the global energy transition.
Industrial Decarbonization Projects
Rondo Energy will utilize the funding to expand its operations in Europe and build projects that deliver low-cost, clean energy under long-term contracts. The projects are designed to harness low-cost intermittent energy from wind and solar resources to provide continuous, high-pressure, zero-carbon steam and power.
“This project funding is a strong addition to our long-term relationship with Breakthrough, and puts Rondo firmly on the path to help eliminate the green premium for industrial heat electrification and to become a fully bankable technology which can be deployed at scale,” said Eric Trusiewicz, CEO of Rondo Energy.
Focus on Sustainable Aviation Fuel
One of the key focuses of Rondo Energy’s projects will be the production of sustainable aviation fuel (SAF). The funding will support the development of technologies and infrastructure needed to produce SAF at scale, addressing the critical need for cleaner aviation fuel alternatives.
Project Breakdown
1. Decarbonizing Chemical Production
Covestro, a leading manufacturer of high-quality polymer materials, has selected Rondo to deliver clean energy services at a facility in Northern Germany. The project will involve an RHB100 heat battery that delivers continuous steam powered by renewable energy.
“The heat battery is such an idea: a new technology that allows us to go one step further on our way to a sustainable future,” said Dr. Thorsten Dreier, CTO of Covestro.
2. GreenLab’s Circular Industrial Park
GreenLab, a pioneer in green and circular industrial parks in Denmark, will benefit from Rondo’s heat battery technology. The RHB100 installation will generate high-pressure steam from renewables, providing clean energy to multiple companies within the park.
“On a global level, powering industrial heat with renewables and heat batteries can cut CO2 emissions drastically, and we are happy to pioneer the solution in our park,” said Christopher Sorensen, CEO of GreenLab.
3. Decarbonizing Food & Beverage Production
Rondo will also develop a project for a European food and beverage producer, using solar energy to achieve deep decarbonization. Further details about this project will be announced soon.
Technological Advancements
Rondo Heat Batteries (RHBs) use a combination of century-old materials and modern automation to convert intermittent renewable electricity into continuous high-temperature heat and power. This innovative approach offers a unique opportunity for industries to decarbonize using affordable renewable electricity.
“Rondo’s technology offers industry a unique opportunity to decarbonize with inexpensive renewable electricity,”said Mario Fernandez, Head of Breakthrough Energy Catalyst.
Strategic Importance for Europe
The European Investment Bank (EIB) emphasized the significance of these projects for Europe’s green transition.
“The green transition requires massive investment for innovative technologies to replace industrial processes based on fossil fuels,” said EIB Vice-President Thomas Östros.
Impact on the Sustainable Aviation Fuel Market
The development and deployment of Rondo’s technology will significantly impact the SAF market by reducing production costs and increasing the availability of SAF. This aligns with global efforts to achieve net-zero aviation emissions by 2050.
“These projects bring together Rondo’s innovative technology with Catalyst and EIB’s innovative finance to power industry with the wind and the sun on a permanently lower-cost basis,” said John O’Donnell, co-founder and Chief Innovation Officer of Rondo Energy.
Conclusion
The €75 million funding for Rondo Energy’s projects marks a significant step towards industrial decarbonization in Europe. By focusing on clean energy solutions, including sustainable aviation fuel, Rondo is set to play a pivotal role in reducing industrial reliance on fossil fuels and enhancing Europe’s energy security. These projects will not only contribute to the global fight against climate change but also position Europe as a leader in the green energy transition.
About Rondo Energy
Rondo Energy is dedicated to providing industrial facilities with high-temperature heat and power solutions using proven, durable materials and advanced automation. Rondo Heat Batteries are designed for seamless integration with existing industrial equipment, offering a reliable and cost-effective alternative to fossil-fueled heating systems.
About Breakthrough Energy
Breakthrough Energy is a global network of climate leaders committed to accelerating the world’s journey to a clean energy future. Breakthrough Energy Catalyst focuses on funding and investing in first-of-a-kind commercial projects for emerging climate technologies.
About the EIB
The European Investment Bank (EIB) is the European Union’s long-term lending institution, financing investment projects that contribute to EU policy goals. The EIB supports innovative technologies and infrastructure projects that drive the green transition.
