RayGen

About RayGen

RayGen is an Australian technology company that specializes in renewable energy storage and solar power technology. The company has developed a unique system that combines high-efficiency solar power generation with innovative energy storage solutions. RayGen's technology is designed to provide renewable electricity on demand at a utility scale, making it a viable alternative to traditional coal and natural gas power plants.

RayGen's primary clients include utility companies, industrial operations, and remote communities that require reliable and cost-effective energy solutions. The company operates in the renewable energy market, focusing on grid-scale electricity generation as well as micro and off-grid applications.

The business model of RayGen revolves around its proprietary technology, which uses a combination of smart mirrors, high-efficiency PV Ultra modules, and water-based thermal storage. The system works by concentrating sunlight onto a tower-mounted receiver, where PV Ultra modules convert the sunlight into electricity and heat with nearly 90% efficiency. The heat is stored as hot water in a thermally insulated reservoir, while electricity is used to run a chiller to produce near-freezing water in a second reservoir. This stored hot and cold water is then used to drive an Organic Rankine Cycle engine, producing stable electricity on demand.

RayGen makes money by selling its solar-plus-storage systems to utility companies and other large-scale energy consumers. The company also offers its technology for industrial operations and remote communities, providing a cost-effective and reliable energy solution. By offering a system that is less than half the cost of traditional batteries for 10 hours of storage, RayGen positions itself as a competitive player in the renewable energy market.