SkyFuel

About SkyFuel

SkyFuel, Inc., established in 2007, operates in the renewable energy sector with a specific focus on concentrating solar power (CSP) technology for utility-scale applications. The company was founded by Dr. Arnold Leitner, who served as its CEO, to develop systems that could accelerate the commercial deployment of solar thermal power. SkyFuel's technical direction was guided by CTO Randy Gee, who brought prior experience from designing the parabolic trough concentrators for the Nevada Solar One power plant.

The company's core business involves designing, manufacturing, and supplying advanced solar thermal power technology to utility companies and for industrial applications. Revenue is generated through the sale of its proprietary CSP systems and related services for the construction of solar power plants. These plants can be integrated into existing facilities or built as standalone operations. SkyFuel's market consists of independent power producers and industrial clients globally, with projects noted in the U.S., South Africa, and China.

SkyFuel's primary product is the SkyTrough®, a parabolic trough solar collector. A key design element of the SkyTrough® is its use of a proprietary, patented ReflecTech® mirror film instead of traditional, heavier glass mirrors. This material, developed in collaboration with the National Renewable Energy Laboratory (NREL), is designed to be unbreakable and lightweight, reducing manufacturing, transportation, and installation costs by an estimated 25% compared to conventional systems. The technology works by concentrating solar radiation onto a central tube containing a heat-transfer fluid, which then generates steam to drive a turbine for electricity production. NREL testing confirmed the SkyTrough's high thermal efficiency, with over 73% of solar radiation being converted into thermal energy. The company has also developed next-generation systems, such as the large-aperture SkyTrough DSP®, designed for higher operating temperatures using molten salt as a working fluid to enable more efficient thermal energy storage and 24-hour operation.

Throughout its history, SkyFuel raised approximately $37-42 million in funding over multiple rounds from investors including Leaf Clean Energy Company, Flywheel Ventures, and OSTI. In 2015, the company was acquired by the Kaidi New Energy Group (also cited as Sunshine Kaidi New Energy Group), a Chinese entity.