With this new investment, RIFT will conduct 2 GWh of endurance testing in the existing industrial pilot facilities in Arnhem and Helmond. Additionally, the capital will be used to secure the first commercial contracts. This is the final step before the technology can be commercially rolled out.
RIFT, founded as a spin-off from the student team SOLID from the Eindhoven University of Technology, focuses on making industrial heat in sectors such as food & beverage, pulp & paper, ceramics, and specialty chemicals more sustainable. These industries are under increasing pressure to become more sustainable and reduce their dependence on fossil fuels, but often lack viable, sustainable alternatives. RIFT offers a sustainable heat alternative with its iron fuel technology that is indeed implementable. The technology is easy to implement without major adjustments to existing infrastructures and is economically competitive with fossil fuels. This provides a solution to the challenges that other alternatives, such as hydrogen and electrification, often still face.
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Less CO2 emissions and circular process RIFT's technology utilizes iron fuel, in which iron powder is burned in a boiler system developed by RIFT. During combustion, high-temperature heat is released up to 2,000°C, without any direct CO2 emissions. The byproduct, rust powder, can be efficiently converted into usable iron powder using hydrogen, making the process fully circular. In addition, iron fuel also offers logistical advantages: the powder can be easily and safely transported over both short and long distances, similar to the storage and distribution of oil or coal. As a result, the technology has the potential to provide a worldwide alternative to fossil fuels. The sustainable impact is further enhanced by minimal nitrogen emissions, which are significantly lower than those from natural gas combustion.
Continuation of the breakthrough fellows program
The investment comes at a great moment. RIFT recently completed the prestigious Breakthrough Energy Fellows program, which supported the startup for two years with funding and advice. Ashley Grosh, vice president of Breakthrough Energy: “We selected RIFT for the Breakthrough Energy Fellows Program two years ago because of their groundbreaking innovation in iron fuel technology. By addressing one of the biggest challenges in reducing CO2 emissions - the decarbonization of industrial heat - RIFT's solution offers a breakthrough for energy-intensive sectors. RIFT has distinguished itself by building a strong team and quickly achieving both technical and commercial milestones. We are eager to see what the future holds for the team and their technology.”
