Transforming Thermal Generation Plants with Thermal Energy ...
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Transforming Thermal Generation Plants with Thermal Energy Storage Bill Capp Bright Energy Storage Technology May 8, 2019
Transcript of Transforming Thermal Generation Plants with Thermal Energy ...
Transforming Thermal Generation Plants with
Thermal Energy Storage
Bill CappBright Energy Storage Technology
May 8, 2019
And Makes Valuable Assets Obsolete
Bloomberg New Energy Outlook 2018 - Investments through 2050
$9.9 trillion in wind & solar (cheaper than fossil) $2.1 trillion
in new resources required to balance
wind and solar
-1,100 GWObsoleted
Conversion to Renewable Energy Creates Huge Markets
$1.6 trillion1,000 GW
$0.5 trillion1,100 GW
The Problem
Thermal Energy Storage can
transform obsolete assets
back into valuable assets
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While Obsoleting 1,100 GW of Coal?Why Build 2,100 GW of New Flexible Resources
● Coal Assets not economic operating as balancing resources
● New flexible resources required for economic balancing:High ramp rates, low or zero minimum generation
● Bright Thermal Energy Storage (TES) transforms obsolete / poor performing assets into high performance balancing resources -at a fraction of the cost of new
The Solution
+- TES =Flex CC
Flex ES
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Bright Energy is developing Thermal Energy Storage Solutions
which are the lowest cost, most profitable path tofast and deep integration of renewable energy by
extracting massive flexibility from legacy assets
Our goal in participating in the NREL IGF isto obtain investment funding and
develop mutually beneficial relationships
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Thermal Energy Storage (TES) Module
● Patented high performance concrete and steel tube systems
● Designed to operate at up to 6000 C
● Low cost, modular, factory built, stacked and connected on site
● Configurable for every thermal generation system
● Two TES designs○ Thermally charged with steam ○ Thermally charged with CT exhaust /
heated airFull Scale Module
Placement
Product
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Bloomberg - New Balancing Resources Procured
Bloomberg New Energy Outlook - Investments through 2030
Market Size
Gas Plants 170 GW
Batteries 150 GW
Total addressable Market
320 GW
Average Bright sale per kWFour hour TES and balance of plant
$300
Potential Bright Sales through 2030 $24 Bil
Gross Profit (at 40% GM) $10 Bil
● Bright Content○ Design of Conversion
○ Sale of TES
○ O&M support
● Customers○ IPPs
○ Utilities
○ Munis
○ Coops
● Partners○ EPCs
○ Regional concrete
fabricators
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Industry Funded Bright TES Test ProgramTraction
● Electric Power Research Institute (EPRI)
○ Member funded test program ending in August 2019
○ Follow on 10 MW pilot in planning stage
○ Collaboration on DOE funding for pilot
● Interest from State Agencies
● Engagement with established thermal operators
○ Nuclear
○ Coal
○ Geothermal
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•Market SizeCompetition
● Majority of grid solutions have been smaller scale batteries
● Battery solutions are not economical for GW scale
● Emerging Technologies for long term / GW scale
○ Simple passive systems to supplement existing technologies
(Bright Energy)
○ More complex systems to supplement existing technologies
(pumped thermal salts)
○ Very complex systems with all new configurations
(Malta)
● Bright Energy has the simplest and lowest cost solutions
Alternatives
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Bright Energy Background
• Angel-backed startup based in Arvada, CO, founded in 2010.
$7M+ equity raised to date. ~15 employees
• Several themes common in development concepts ○ Low capital costs per kW/kWh, high efficiency, low cost heat exchangers
and heat storage media, re-use of existing capital equipment
○ Must be competitive against operating costs of incumbent generation
equipment, not just better than competing storage systems
• Sustainable advantages○ Lowest cost solutions with 25+ year lifetime
○ Proprietary technology
○ Strategic relationships with the industry, EPCs and Concrete Fabricators
Bright Energy Team
Team
SCOTT FRAZIERCTO, Co-founder
Thermodynamic systems engineer with 20 years of experience in top management & leadership for design, engineering, and manufacturing teams, including commercial and NASA rocket programs. Chief Engineer, Beal Aerospace.
KEVIN PYKKONENVP Business Development
Engineer and MBA with US and international patents and 25 years engineering and management experience in energy and technology industries, including as a co-founder.
BRIAN VON HERZEN, PHDCo-founder
Inventor and innovator in energy systems engineering, with 21 patents awarded, and a dozen pending. Founder of Climate Foundation, RPI. Hertz Fellow.
ALEX LAUDirector, Investor, Co-founder
A leading clean tech angel in the Pacific Northwest, with 20 years of technical, management, and consulting experience in IT and clean technology companies.
BILL CAPPCEO
Engineer, technologist, and MBA with extensive experience in the design and commercialization of energy storage. Former CEO of Beacon Power, first publicly-traded pure-play grid storage company.
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Funding
● Seeking to raise $8.5M to co-fund pilots and
market entry
○ Thru purchase order #1
○ Use of funds summary in table
○ Includes a $1.1M contingency
● Funding assistance for pilot is very possible
○ Current EPRI project is likely to lead to
~$4-5M funding for pilot
○ Additional Pilot - Exploring partnering with
California Geothermal Plant
Spend from new funding thru Commercial Order #1 ($K)
R&D and SG&A 3,129
Manufacturing Tooling 400
Pilot Materials 3,581
Additional TES inventory
279
Total 7,389
Contingency 1,111
Raise 8,500
Financial
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