EXCLUSIVE: A Sand Battery? DoE Picks These Firms For Revolutionary New Energy Storage

Homerun Resources Inc HMRFF has signed a multi-party shared resource/funds-in Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Babcock & Wilcox Enterprises Inc BW.

NREL, Homerun, and B&W have recognized the potential of using the novel energy storage technology to upgrade Homerun’s silica sand while providing clean, reliable energy. 

This initiative supports Homerun’s goal of refining its silica sand to serve various industrial sectors.

The project is designed to support an advanced energy solution in long-duration energy storage using particle-based thermal energy storage and overcome market hurdles for using this technology in broad decarbonization applications.

The Parties will analyze the economic benefits of using Homerun’s silica sand for energy storage, including energy arbitrage from energy storage and grid service, processing of the silica sand by using low-cost electricity in energy storage and generating potential income from processed materials after its use for energy storage (e.g., high-purity silica sand for renewable materials).

NREL-led technology development using particle-based thermal energy storage aims to enable a low-cost technology for long-duration thermal energy storage (LDES). 

The ENDURING project led by NREL and collaborated with industry partners has developed key components in the storage system and verified their operation mechanism through laboratory prototype testing and modeling of the component and system performance. 

With more abundant renewable electricity available and electrification of the energy sector, thermal energy storage makes more and more sense for the broad decarbonization of the economy. The NREL technology uses low-cost silica sand to provide broad application potentials integrating renewable generation.

Price Action: BW shares closed at $2.36 on Monday.