247Solar Inc., developers of the revolutionary 247Solar Plant™, today announced that it will present its next-generation CSP (concentrating solar power) technology and associated business opportunities to a worldwide audience at the 10th World Future Energy Summit, January 16-19, 2017, in Abu Dhabi, UAE.
247Solar CEO Bruce Anderson will demonstrate the complete architecture for 247Solar Plants at an invitation-only symposium on Wednesday, January 18th, at the Abu Dhabi National Exhibition Center. Unlike photovoltaic solar panels that operate only when the sun shines, 247Solar Plants operate 24/7. They are factory produced modular systems that scale from 400kWe to large utility solar farms.
“The challenge for sustainable power technologies has always been to provide uninterrupted availability, regardless of weather or time of day,” says Anderson. “Our transformative approach makes this a reality, and we’re thrilled to be able to showcase it at this important global event with Masdar.”
Joining Mr. Anderson will be Dr. Nicolas Calvet, Masdar Institute Assistant Professor of Mechanical Engineering, and Dr. Alexander Ritschel, Head – Applications Development for the Masdar Corporation.
Dr. Calvet will open the program with an overview of CSP technology and its potential for the future. Mr. Ritschel will continue with a briefing on the directions that Masdar Corporation is taking with respect to financing renewable energy projects throughout the world.
247Solar is developing an agreement with Masdar Corporation and the Masdar Institute to construct a pilot 247Solar Plant as part of the Institute’s Solar Hub, a state-of-the-art facility to build and test innovative solar thermal systems and thermal storage. The agreement, expected to be finalized in January, will become definitive upon conclusion of funding arrangements for the project, currently in advanced discussions.
247Solar Plants:
The 247Solar Plant™ is a game-changing system for firmly-dispatchable, 24/7 power generation and energy storage using concentrated solar power (CSP) technology. It has the potential to produce electricity competitively, without subsidies, with virtually all other new power generation facilities, including fossil, nuclear, or renewable resources.
Technology was originated at MIT, and the US Department of Energy provided funding to develop it with the help of the German Aerospace Center (DLR), WorleyParsons, Fraunhofer Institute, and Saint Gobain.
The 247Solar Plant converts sunlight to heat, which powers turbines to produce electricity. Its proprietary storage system stores energy as heat at a fraction of the cost of batteries, enabling uninterrupted operation. It operates at atmospheric pressure and uses no water/steam, oils or molten salts for reduced complexity, lower cost and minimal environmental impact.
247Solar Plants are quickly assembled and easy to maintain, employing pre-engineered, standardized modules that have few moving parts and use mostly commercially-proven components. Each 247Solar Plant requires as little as 4 acres (16,000 square meters).
They can be deployed as a single, off-grid system of 400 kilowatts plus useful process heat, or as large utility-scale farms. 247Solar Plants can be built on uneven ground and have no known environmental drawbacks.
Less expensive to build per kWh than PV, 247Solar Plants can generate electricity as needed, regardless of weather, and improve grid performance by responding instantly to fluctuating power demand. Use of multiple redundant plants in larger systems guarantees 100% uptime. Co-location with PV and wind farms can convert entire facilities from intermittent output to reliable power 24/7/365.
The Masdar Solar Hub:
The Masdar Solar Hub is a state-of-the art solar testing and R&D hub for photovoltaic and solar thermal technology. The hub is located within Masdar City, UAE, and is jointly managed by Masdar and the Masdar Institute of Science and Technology. Launched in January 2015, the Masdar Solar Hub aims to become a globally recognized centre of excellence in the areas of photovoltaic and solar thermal energy technologies.
The Masdar Solar Hub spans a wide range of activities including: solar energy and thermal storageequipment testing, prototype evaluation and solar irradiance monitoring. It fulfills a crucial need in the technological development and demonstration of novel solar energy systems and in doing so responds to the region’s growing requirements for the increased production and use of renewable energy.
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About 247Solar, Inc.
247Solar, Inc. was formed in 2015 by solar industry pioneer Bruce Anderson to commercialize the 247Solar Plant™, invented by Wilson Solarpower Corp., a spinoff of MIT, and developed with funding support from the US Department of Energy. The company has signed agreements to develop and deploy its technology in China and South Africa, and is in advanced negotiations with companies throughout the world, including India, Northern Africa and the UAE. For more information see www.247Solar.com
About Masdar Institute
The Masdar Institute of Science and Technology (Masdar Institute) was established by the government of Abu Dhabi as a not-for-profit, private graduate university to develop indigenous R&D capacity in Abu Dhabi addressing issues of importance to the region.
In collaboration with the Massachusetts Institute of Technology (MIT), Masdar Institute has developed an academic and research platform that articulates its mission and vision according to critical energy and sustainability challenges.
An important characteristic of Masdar Institute is its focus on complex real-world problems that require a multidisciplinary approach for the development of solutions from an integrated technology, systems and policy perspective. This multi-interdisciplinary and integrated approach is supported by the structure of its academic programs and by the emphasis placed on engaging external partners from industry, government, and other academic institutions in collaborative activities.
Serving as a key pillar of innovation and human capital, Masdar Institute remains fundamental to Masdar’s core objectives of developing Abu Dhabi’s knowledge economy and finding solutions to humanity’s toughest challenges such as climate change.
Masdar Institute integrates theory and practice to incubate a culture of innovation and entrepreneurship, working to develop the critical thinkers and leaders of tomorrow. With its world class faculty and top-tier students, the Institute is committed to finding solutions to the challenges of clean energy and climate change through education and research.
For more information contact:
Name: Shaima Al Jarman
Director – Marketing & Communications
Public Affairs Department
Email: [email protected]
Phone: +971 02 8109365
Website: http://www.masdar.ac.ae/
