Heliogen, Inc. has completed two key product development milestones related to its Capella Project, the world's first fully integrated Gen3 Concentrating Solar Power (CSP) commercial demonstration. They are the deployment of the first commercial-scale centrifugal particle receiver for Capella. Together, these two milestones are essential to deploy Heliogen's centrifugal particle receiver in the Capella Project, a collaboration with Woodside Energy (USA) Inc. and a funding award from the U.S. Department of Energy.

Upon completion, the Capella project will add to Heliogen's portfolio of commercially ready technologies. Alongside the mature products Heliogen already offers for theindustrial heat and large-scale power markets, the Gen3 CSP capabilities will broaden the space of potential applications to include variably sized power projects and improve economics for many customers. Like any major advanced technology project, there are a lot of moving parts and iterative steps along the way.

For Heliogen, the completed project milestones move the project closer to harnessing heat from the sun that will become electrical power. Heliogen's particle receiver design uses solid materials like ceramic particles to safely capture and store heat from the sun at temperatures up to 750deg C, then transfers that heat to a highly efficient power block to generate electricity. The particle receiver is an essential element in Capella, the world's first fully integration Generation 3 CSP plant combining solid-particle thermal energy storage and supercritical CO2 (sCO2) power generation to achieve unprecedented efficiencies.

Heliogen remains on track with its previously disclosed Capella development schedule, with front-end engineering design (FEED) forecasted for completion in late 2023 and planned for 2024, in line with previous guidance.