Heliogen, Inc.

Founded in 2013 and led by CEO Christie Obiaya, based in California, US, Heliogen, Inc. is a renewable energy company that develops sustainable solar technology to replace the use of fossil fuels. Bill Gross and Aaron Fyke co-founded the company and have raised venture capital funding from private equity investors including, Neotribe Ventures and Prime Movers Lab. In June 2021, Heliogen, Inc.

raised USD 83 million from ArcelorMittal, Edison International, and other existing investors. The company plans to go public through a merger with a special purpose acquisition company, or SPAC, in a deal that values the combined company at $2 billion. The company will be listed on the New York Stock Exchange under the ticker symbol HLGN. In March 2022, Heliogen, Inc.

raised venture funding from Woodside. The company's development team provides a solar solution that uses AI (artificial intelligence)-based vision software to align a range of mirrors and accurately reflect sunlight into a receiving tower for heat, power, or hydrogen fuel generation. Heliogen, Inc. 's Sunlight Refinery solutions include, HelioHeat, HelioPower, and HelioFuel for various applications such as mining, waste treatment, transportation, heavy equipment, and household heating.

The June 2021 funding will help Heliogen, Inc. to accelerate the global deployment of its Sunlight Refinery. The company plans to use proceeds from the merger to scale manufacturing and support research and development of its offerings.