RayGen Resources Pty. Ltd., the Victorian manufacturer of PV Ultra, the world’s highest efficiency solar power tower, welcomed Victorian Energy Minister D’Ambrosio and representatives of global utilities ESB-International and SP Group to its site in Newbridge, Victoria on Saturday 12th May 2018.
The event was to mark the commissioning of two new PV Ultra towers (0.5MWAC and 1MWthermal) at the Victorian agribusiness Scato Plus and coincided with a visit of the utilities to Melbourne, Australia for the Free Electrons Program.
RayGen’s PV Ultra technology now delivers the lowest cost solar electricity and heat (full turnkey cost of less than US$0.75/Wenergy). The dispatchable heat addresses a white space in the renewable energy market – industrial thermal energy supplied at a lower cost than natural gas.
In areas where there is no local heat requirement, the heat can be transformed into low cost freshwater production (using multi-effect distillation), district chilling (using absorption chillers) and electricity storage (using a solution developed internally).
RayGen’s PV Ultra is designed to produce more revenue products for the same installed capacity. Like a solar thermal tower, PV Ultra deploys a field of dynamic mirrors to focus sunlight onto a solar receiver atop a mast. In a world first, RayGen has developed PV Ultra modules that use multi-junction solar cells to convert the concentrated light to AC electricity at a system efficiency of over 25% approx. These modules have active thermal management, capturing most of the remaining energy as usable low-grade heat (less than 150°C, typically below 100°C). This ensures a conversion efficiency of the total sunlight to useable energy products of over 80%.
PV Ultra has been supplying Scato Plus with low cost solar energy since 2015 and the expanded PV Ultra power station will now address most of Scato Plus’ day time energy load.
RayGen is active in the market with its new 3MW Solar tower (1MWAC and 2MWthermal).
The recent pricing changes to the Australian electricity and gas markets have been a key driver for local demand in RayGen’s co-generation product. Customers of PV Ultra can save on both electricity and gas expenses, not just electricity expenses, and it is ideally suited to Australia’s regional food industry. Many potential Australian customers are the largest employer in their town, have significant heat requirement below 150°C and are in export industries where recent energy price rises cannot be passed through to the customer. Example businesses include dairies, abattoirs, food processors, confectionary, hydroponics and beverage.
In parallel and in complement to the local market strategy, RayGen is developing its international exports business. Attendees at the event represented large international businesses with activities across the Middle East, Europe and Asia.
For the Gulf States, RayGen has developed a low cost 24/7 renewable freshwater solution and is developing a 24/7 district cooling solution. This is targeted to a region where freshwater and space cooling are in high demand – for example, almost 80% of the energy consumed by the Emirate of Dubai is to produce space cooling and desalinated freshwater.
In China, RayGen is leveraging its existing market presence and partnerships to address the market created by the most recent Chinese Five Year Plan – which requires 4GWthermal of new solar district heating by 2020.
CEO Jorn Hammer:
“RayGen’s ambition is to become a global Original Equipment Manufacturer of PV Ultra. Today, RayGen Resources has a team of 30 staff, primarily in product engineering, manufacturing and sales, and we have manufacturing capacity for 25MWAC p.a. Our recently endorsed Five Year Plan, the ‘Triple One’, will see us deliver 1GWAC of firm sales orders in 2022, 1GWAC cumulative deployment to 2022 and 1GWAC manufacturing capacity by 2022.”
Founder and Executive Director Dr John Lasich:
“We thank the Minister and the State of Victoria for the support provided to RayGen through the New Energy Jobs Fund. RayGen is the centre of a new energy value chain that brings local innovation, manufacturing and jobs. RayGen is a Victorian manufacturer that is supplied by and supplies to Victorian manufacturers.”
The Newbridge Expansion Project received support from the New Energy Jobs Fund of the State of Victoria and from the Advancing Renewables Programme of the Australian Renewable Energy Agency (ARENA).
Interested potential customers or investors should contact Will Mosley, Head of Sales, via +61 (0)3 8669 0380.