Echogen Power Systems Awarded $1 million Grant From The U.S. Department Of Energy
Echogen Power Systems has received a $1 million grant through the U.S. Department of Energy’s SunShot Initiative, the Akron-based clean energy company announced Monday, July 24.
Echogen will team with Southern Research in Birmingham, Ala., to design and test a solar energy storage and power system that uses a chemical process to store thermal energy collected during daylight hours, a news release said.
Then Echogen’s technology will convert the stored energy into electricity, even when it’s dark. The system uses high-pressure carbon dioxide to convert industrial waste heat into electricity.
“Thermal energy storage has the potential to solve one of solar power’s most significant problems, which is the mismatch of daytime supply with round-the-clock electricity demand,” said Echogen CEO Phil Brennan in the release.
Echogen was chosen as part of the SunShot Initiative’s Technology to Market 3 funding program, which focuses on the research and development of next-generation solar technologies.
Founded in 2007, Echogen targets markets including utility power generation, oil and gas, coal and nuclear power, industrial heat propulsion and marine propulsion.
This story originally appeared on Crain’s Cleveland Business.