RFC Ambrian Co-founds FPR Energy to Commercialise CSIRO’s Breakthrough Solar Thermal Technology
Innovative concentrated solar thermal solution delivers high-temperature renewable energy, set to revolutionise industrial decarbonisation and dispatchable power generation in Australia and beyond.
RFC Ambrian, a leading investment and advisory firm to the mining, energy and heavy industry sectors, proudly announces its partnership with FPR Energy, an Australian startup dedicated to providing 24/7 renewable heat and power solutions. Co-founded by RFC Ambrian, the CSIRO and Osaka Gas Co. Ltd, FPR Energy is set to commercialise its next-generation Concentrated Solar Thermal (CST) technology capable of producing temperatures of up to 1,200°C.
Developed to meet the pressing needs of heavy industries traditionally reliant on fossil fuels, FPR Energy’s advanced CST solution uses inert, ceramic particles to achieve ultra-high temperatures, providing a utility-scale alternative to coal and gas in sectors like minerals processing, cement, steel, and chemical manufacturing. This innovative approach enables energy-intensive industries to integrate scalable, renewable energy, thereby reducing carbon emissions without sacrificing reliability or performance. The technology can also be used for high-efficiency Concentrated Solar Power (CSP) at a utility-scale, integrating 16+ hours of energy storage to produce 100% renewable, dispatchable electricity.
“CSIRO’s technical advances in using solid particles to capture, store and utilise high-temperature heat overcomes many of the fundamental challenges faced by the CST/CSP industry in the past. We are confident FPR Energy will be able to provide 100% renewable, dispatchable heat and power solutions at a price that is cost competitive with fossil fuels – providing a more resilient energy sector for Australia” said Stefan Skorut, Chief Investment Officer at RFC Ambrian Funds Management.
Strategic Partnership to Drive Industrial Decarbonisation
Osaka Gas Co., Ltd., a leader in innovative energy solutions, has joined FPR Energy as an investor. This partnership will empower FPR Energy to advance its concentrated solar thermal (CST) technology to meet the needs of industrial heat applications, particularly in the mining sector, with large-scale, firmed renewable heat and power solutions. With Osaka Gas’s expertise in high-efficiency, low-impact gas cogeneration and gas boilers, the collaboration aims to overcome the challenges of decarbonising industrial heat at scale – one of the most challenging sectors to decarbonise. Osaka Gas’s investment aligns with its commitment to decarbonisation and supports the commercial-scale deployment of FPR Energy’s CST technology.
Hiroki Tanaka, Head of the Next-Generation Business Development Department at Osaka Gas, expressed his excitement about collaborating with CSIRO and RFC Ambrian to create and deliver unique industry solutions.
“Emission reduction and affordability of energy are often a dilemma for many industrial energy users and this particle-based CST and possibly thermal energy storage can offer practical solutions for them.” he said.
“Throughout our history, we have contributing to the low carbonisation by switching heat sources from coal, fuel oil to gas with efficient energy solutions. We are thrilled to bring our knowledge to help FPR Energy to create real-life solutions for industrial customers,” he added.
FPR Energy aims to scale the technology with the potential to expand across other high-solar regions worldwide, including North America, South America, the Middle East, and Africa. This collaboration accelerates FPR Energy’s mission to provide industrial clients with stable, cost-effective renewable heat and power solutions, marking an important milestone in the journey toward a carbon-neutral future.
“With the particle CST technology, we can address the high-temperature energy demands of industries that previously had few renewable alternatives,” stated Wil Gardner, FPR Energy’s incoming COO. “Our solution not only helps reduce carbon emissions but also enhances Australia’s global competitiveness by providing renewable thermal energy to decarbonise industries that require high-grade heat. Our collaboration with RFC Ambrian has been instrumental in bringing this vision to life.”
A Vision for Australia’s Renewable Future
As Australia and the world seek sustainable solutions to meet ambitious net-zero targets, FPR Energy’s CST technology offers a practical, scalable path to decarbonise heavy industry. Backed by RFC Ambrian, Osaka Gas Co. Ltd. and CSIRO, this partnership exemplifies the innovative spirit and commitment to renewable energy that position Australia as a leader in clean technology. FPR Energy’s technology is proudly Australian developed, and can be readily manufactured at scale in Australia.
“FPR Energy’s vision, combined with RFC Ambrian’s strategic support, positions us for real impact in renewable energy for heavy industries,” said Dr Daniel Roberts, CSIRO Energy Technologies Research Director. “This is not only a significant development for Australia’s clean energy landscape but a showcase of how industry partnerships can drive transformative change on a global scale.”
About RFC Ambrian
RFC Ambrian specialises in investment and corporate advisory for the mining, energy, and heavy industry sectors, with an established track record in developing impactful deep-tech ventures. Through their funds management arm, RFC Ambrian manage a critical minerals and decarbonisation technology fund focusing on advancing sustainable innovation. FPR Energy marks the fifth company co-founded by RFC Ambrian, joining their portfolio of groundbreaking ventures, which includes Chrysos Corporation (ASX: C79), NextOre Limited, Hadean Energy Limited, and MRead Limited.
For more information on RFC Ambrian and FPR Energy’s CST technology, please visit www.fprenergy.com.au or contact us directly for press enquiries.
Media Contact:
Dougal Adamson
FPR Energy
info@fprenergy.com
+61 2 9250 0000
