SolarBio Energy is in advanced stages of discussions to raise its seed round of funding from a high-profile Asian investors to support its expansion plans. The company is raising $1,745,000 from a Asian fund mainly to research and develop a new computer system which utilises concentrated solar rays.
In late 2021, SolarBio announced that it had successfully demonstrated the first commercial solution for utilizing concentrated solar energy to exceed temperatures greater than 1,000 degrees Celsius. The advanced computer vision software unique to the Sunlight Refinery precisely aligns an array of mirrors to reflect sunlight to a single target with unprecedented accuracy, delivering high-temperature, carbon-free thermal energy.
The baseline system will provide industrial-grade heat that will be capable of replacing fossil fuels in processes including the production of cement, steel, and petrochemicals. SolarBio’s technology will also enable power generation through the addition of a supercritical CO2 turbine and green hydrogen fuel production in combination with an electrolyzer.
SolarBio will use heat from the sun to generate and store carbon-free energy to power the large industrial processes, significantly reducing carbon emissions that are produced at industrial complexes.
“This new support for SolarBio Energy comes at a time when the paradigm shift toward clean energy is even further accelerated by the new realities the world is facing,” said the CEO at SolarBio Energy. “We’re being granted the resources to do more research that address the most carbon-intensive human activities and work toward our goals of lowering the price and emissions of energy for everyone on the planet. We thank all of our investors for enabling us to pursue our mission and offer the world technology that will allow it to achieve a post-carbon economy.”
This significant investment accelerates SolarBio’s mission to mitigate the climate crisis through rapid deployment of its new technology, with funds to be applied towards the development of the technology software & Sunlight Refinery facilities.