CLEAN HEAT
The core long term target market Applications for MOx Energy is Clean Industrial Heat High heat industrial processes that are primarily metal and chemical manufacturing greater than 750°C. This is typically heat used in furnaces, reactors, and ovens. Traditionally these are heated with hydrocarbon-based fuels such as Natural Gas. Industrial process heat accounts for 25-30% of energy use globally. In Australia, it is an $3.16 billion per year market.
LONG DURATION ENERGY STORAGE
Long Duration Energy Storage (LDES), where there is a requirement for 10 to 100+ hours of energy storage. Batteries cannot do this. Solar and wind work well for 330 days of the year. Weather is unpredictable, and storms, clouds, calm days cause power generation (reliability) problems. MOx Energy can easily, safely and economically store energy for long periods (days, months), and readily be used for on demand generation with high discharge capabilities. MOx Energy systems can be retrofitted to existing peaking plants.
MOx Energy Market Size
MOx Energy Economics
MOx systems have a very long lifetime, with low annual maintenance requirements. As the MOx Systems evolve, green premiums will dissipate, learning curves will naturally lower costs and make MOx even more competitive with incumbent and alternative energy sources.
Key Figures:
- The energy density of metal fuels varies from 4.9 to 40 MJ per kg.
- In regards to electricity storage, MOx has very similar round trip efficiency to fossil fuels. Typically the round trip efficiency (make fuel -> burn it -> use heat for electricity -> recycle fuel) is around 30%.
- On a cost per GWhr basis initial models show that the MOx fuel in a 10MW system has a opex cost around $9 per MWhr of electricity generated.
- One of the key advantages of a MOx System is that it can be retrofitted to existing infrastructure.
- Initial Capex estimates are in the USD$1,500-2,000 per kW for the complete system.
- Swapping out natural gas burners on a peaking plant with MOx burners is a very cost effective solution for a zero emission transition. This would bring the capex per kw down to the sub $1,000 mark.
“These opportunities include the replacement of fossil fuels in ammonia, alumina and steel manufacture, and in the cement industries. (Arena)”.