US-based solar thermal technology developer SkyFuel has this week announced that it has secured $17m in funding as it seeks to commercialise its parabolic trough solar collector.
The funding comes from cleantech investment firm Leaf Clean Energy, which said the backing would allow the firm to begin commercial deployment of its SkyTrough solar collector and continue research and development work on a new Linear Fresnel system, designed to better track sunlight throughout the day.
SkyFuel claims its parabolic troughs have been developed using a patented mirrored film, which is highly reflective and resilient and significantly cheaper than the expensive glass mirrors typically used in solar thermal systems.
Solar thermal systems work by concentrating the sun's energy to generate temperatures high enough to create steam, which in turn is used to drive turbines. The systems are regarded as currently the most cost effective form of solar energy, however, the sector has been hampered by the relatively high cost of manufacturing and maintaining the mirrors required to capture the sun's energy.
Dr. Arnold Leitner, founder and CEO of SkyFuel, said that the new mirrored film had the potential to "disrupt" the solar thermal power market and significantly reduce set up costs for solar thermal projects. "The SkyTrough significantly advances parabolic trough design using advanced materials to greatly reduce cost, while continuing to deliver the proven performance and simplicity of the only currently commercially viable solar thermal power technology," he added.
The company it is currently working with a number of independent power producers to develop utility-scale solar thermal power plants in the US and abroad.
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