SWAN is thrilled to share that Skyven Technologies, an Energy-as-a-Service (EaaS) company pioneering steam generating heat pump technology and a company in the SWAN investment portfolio, has been selected for award negotiations up to $145 million from the Department of Energy (DOE) Office of Clean Energy Demonstrations (OCED). The unprecedented funding will address critical climate challenges by accelerating the installation of cutting-edge Skyven Arcturus industrial steam-generating heat pumps (SGHPs) at manufacturing facilities across the United States.
Skyven’s innovative work to reduce greenhouse gas emissions from industrial plants will remove 400,000 metric tons (MT) of CO2 annually.
Background:
“The U.S. Department of Energy announced it has selected 33 projects from more than 20 states that will be awarded up to $6 billion to jump-start the elimination of carbon dioxide emissions from industries that are hard to adapt to green technologies. The projects will match federal monies to invest more than $20 billion toward commercial-scale decarbonization solutions for cement and concrete, chemicals and refining, metals including iron and steel, pulp and paper mills, and so on. The projects are funded by the Bipartisan Infrastructure Law and Inflation Reduction Act, and will create tens of thousands of jobs. The Department of Energy estimates that the funded projects will cut carbon emissions by an average of 77%.”
Read the Press Release