MGA Thermal Secures $8M AUD Funding for Modular Energy Storage

Revolutionizing Energy Storage: MGA Thermal's Innovative Approach

MGA Thermal is developing a novel solution to facilitate the transition of utility companies from fossil fuels to renewable energy sources. Their approach centers around compact thermal energy storage blocks, approximately shoebox-sized, designed for efficient energy retention.

According to the company, a collection of 1,000 of these blocks – roughly equivalent in size to a compact vehicle – possesses the capacity to power 27 homes continuously for a full 24-hour period. This capability allows energy providers to stockpile substantial energy reserves, readily available for deployment even when renewable generation from sources like solar or wind is suboptimal.

Recent Funding and Investment

MGA Thermal recently announced the successful completion of an AUD $8 million (approximately USD $5.9 million) funding round, bringing their total funding to AUD $9 million.

The investment round was spearheaded by Main Sequence, a venture capital firm established by Australia’s national science agency, which recently launched a new AUD $250 million fund. Additional participation came from Alberts Impact Capital, New Zealand’s Climate Venture Capital Fund, The Melt, CP Ventures, and several angel investors including Chris Sang, Emlyn Scott, and Glenn Butcher.

The Technology Behind the Blocks

Founded in April 2019 in Newcastle, Australia, by Erich Kisi and Alexander Post, MGA Thermal’s foundation lies in nearly a decade of research into miscibility gap alloys conducted at the University of Newcastle.

Kisi explains the core principle of their technology using a relatable analogy: “Essentially, our blocks contain metal particles that melt when heated, embedded within an inert matrix material. Imagine a choc-chip muffin heated in a microwave – the cake holds the shape, while the chocolate chips melt.”

He further elaborates, “The energy absorbed during the melting of the ‘choc chips’ is stored and can release heat. The energy required for melting is greater than simply raising the temperature, and this melting energy is concentrated, allowing for consistent energy release.”

Applications and Advantages

The energy stored within MGA Thermal’s blocks can be utilized to heat water, subsequently powering steam turbines and generators. The blocks are engineered with internal tubing for fluid circulation and heat exchange.

Kisi highlights that these blocks can revitalize aging thermal power plants, enabling them to operate on renewable energy sources that might otherwise be curtailed due to factors like overheating during peak sunlight or strong winds.

Comparison to Existing Thermal Storage Solutions

While other thermal energy storage methods exist, such as heating solid materials or utilizing molten salts, MGA Thermal’s approach offers distinct advantages. Many conventional materials struggle with efficient heat transfer and have temperature limitations, leading to decreased effectiveness during energy discharge.

Molten salt systems, commonly used in concentrated solar thermal plants, require significant infrastructure investment for piping, pumps, and heating, and also incur energy losses from preventing the salt from solidifying.

Scaling Production and Future Deployments

MGA Thermal is currently establishing a manufacturing facility in New South Wales to ramp up production of its energy storage blocks. The company intends to double its workforce within the next year to achieve a monthly output of hundreds of thousands of blocks.

Collaborations are underway with companies like Swiss firm E2S Power ASG and U.S.-based Peregrine Turbine Technologies to implement the technology across Australia, Europe, and North America. Notably, E2S Power AG plans to leverage MGA Thermal’s technology to repurpose existing coal-fired power plants in Europe.

Beyond Power Plants: Consumer Applications

The versatility of MGA Thermal’s technology extends beyond large-scale power generation. It can also be applied to off-grid storage, powering remote communities, and providing energy to commercial buildings.

Furthermore, the blocks can enable households to store surplus energy generated from rooftop solar panels or small wind turbines, facilitating home heating and reducing reliance on fossil fuels. Kisi points out that approximately three billion people globally rely on burning fuel for home heating, contributing significantly to CO2 emissions.

Industry Recognition and Future Outlook

Martin Duursma, a partner at Main Sequence, stated, “Our new fund prioritizes the translation of scientific breakthroughs into practical technologies that can mitigate climate change. The groundbreaking research, expert team, and innovative technology of Erich Kisi and Alexander Post are instrumental in advancing grid-scale energy storage and bolstering the potential of a renewable energy future worldwide.”