Terrajoule

About Terrajoule

Terrajoule provides a dispatchable solar energy and storage system as an alternative to conventional photovoltaic and battery setups. Founded in 2009 by Stephen J Bisset, the company was established to introduce a new form of electricity generation equipment to the global market. Bisset, with a background in electrical engineering and a history of starting businesses that manufacture and sell capital equipment, co-founded the original Terrajoule Corporation. The company has since been restarted as Terrajoule Energy Inc., which acquired the intellectual property of the original corporation.

The core of Terrajoule's business is a Distributed Generation with Storage (DG-S) system designed for industrial and agricultural clients. This technology is particularly aimed at locations with inadequate electrical grids and serves as a replacement for diesel generators. The business model involves manufacturing, integrating, and selling these power plant systems, with capital costs ranging from a few million to fifty million dollars. A significant milestone was an $11.5 million Series A funding round in November 2013, with investors including New Enterprise Associates (NEA) and Air Liquide. However, according to PitchBook data, the company is now listed as out of business as of early 2019 or 2021.

Terrajoule's technology platform utilizes Concentrated Solar Power (CSP) to produce electricity on demand, 24/7. The system employs parabolic troughs with mirrors to concentrate sunlight, which boils water to create high-pressure steam. This steam then powers a reciprocating steam piston engine, a resurrected design from World War II known as the Skinner Universal Unaflow, which drives an AC generator. Energy storage is a key feature, achieved by storing thermal energy in pressurized, saturated water held within large, insulated steel pressure vessels. This method of storage is projected to be significantly cheaper than lithium-ion batteries, without performance degradation over a 25-year lifespan and without reliance on rare materials or 'gigafactories'.