Can you provide an introduction to 247Solar?

247Solar was incorporated in 2015, using technology developed by a spinoff from the Massachusetts Institute of Technology (MIT), with support from the US Department of Energy. We are just now going to market with our products, focused on targeting the mining industry.

We saw that the needs of the mining sector pertained to our technology the most, given the energy-intensive nature of the industry and the insufficient and costly access to power that mines usually rely on, especially for off-the-grid mines. However, mining also caught our attention due to the speed at which the industry embraced ESG factors and zero-carbon initiatives.

Currently, we are developing redundant suppliers around the world as opposed to sole suppliers to ensure operational continuity amid unforeseen events, such as the ongoing pandemic.

What are some of 247Solar’s projects in Southern Africa?

The region is home to many off-the-grid mines that rely on costly unreliable power and is a good target for our products due to the abundance of sunshine. We are currently in discussion with mines in Botswana, Namibia, South Africa, Zambia and Mozambique.

Mines in Africa are nevertheless weary of risk, as we are still in the process of executing our first 247Solar plant in Arizona in the US, and mines demand a reference plant in a mine site that is yet to be developed. Therefore, we will only deploy commercial systems starting next year, after the first system is complete and its operational data is analysed.

What are some of the mining applications of the 247Solar Plant?

247Solar Plants, unlike PV and wind, operate instantaneously all day and support power project sizes ranging from 400 kWe to large central power plants of virtually unlimited capacity. During the day, sunshine heats the air, which drives the Heat2Power turbines. Some of the hot air is stored as thermal energy in our HeatStorE batteries, as the hot air is passed through a storage system that heats sand in an insulated container. Therefore, in the evenings, the turbines are still being powered by the stored hot air.

Can you elaborate on your Heat2Power turbines and its mechanism?

247Solar offers a compelling value proposition whereby the annual cost of ownership of Heat2Power turbines is lower than gensets. The turbines are powered directly by hot air – not steam, and it can burn various liquid fuels, including hydrogen. It is the first-ever commercial turbine able to produce power directly from ambient-pressure hot air without combustion or emissions.

Since the turbines spin in one direction, they only require 4 – 8 hours of routine maintenance annually, in turn decreasing costs and increasing efficiency.

Will 247Solar be looking for partners to help distribute its products around the world?

We work with local partners in the countries where we operate. However, they are not our distributors, so they are not expected to have the complete knowledge and capabilities of installation and servicing, which we undertake ourselves by relying on trained local personnel where possible. Maintenance and after-market activities can easily be carried out by locals and miners trained by 247Solar.

Do you see hydrogen placing an increasing role in the mining industry soon?

In the off-grid market, I do not believe hydrogen will be relied on anytime soon. This is because of its associated supply challenges that resemble those of other fuels such as diesel. The first challenge of green hydrogen is making it at a lower cost. The second is transport issues to the off-grid mines. I highly doubt any mine will start producing its own hydrogen on-site in the near future, except perhaps on an experimental basis. It will initially be embraced to power vehicles on-site instead of being used to power the mines.

Where do you see the highest growth potential for 247Solar?

Southern Africa presents great future growth opportunities for 247Solar. We are actively pursuing customers in Sudan, where every mine is off-the-grid. Overall, political stability is a driving factor of how we would rank various jurisdictions because risky political jurisdictions or war zones pose financing challenges due to the associated risk for the financial community.