Australia’s MGA Thermal has secured AU$17 million (US$12 million) in new investment for its long-duration thermal energy storage technology as it enters the commercial scale-up phase.

MGA Thermal has secured AU$3.25 million in funding from ARENA to conduct up to five FEED studies for its thermal energy storage technology.

Australia’s MGA Thermal has completed what it claims is the world’s first industrial steam heat energy storage demonstrator project.