Ripasso Energy is currently entering the next phase of the exciting journey it commenced in 2008. Somewhat simplified, you could say that the main focus of the company, from the start until today, has been research and development. To adapt the Stirling engine so that it can be presented to the market as a cost-effective and sustainable means to generate power. In the next phase ahead of us, the focus will shift towards sales and production. Before diving into those topics, however, let us have a look at what we have accomplished so far.
When we started back in 2008, the ambition was to further develop the astonishing ability of the Stirling engine to convert heat energy to electricity. To use this in a commercial setting, where our initial focus was on extracting solar energy. We were quickly able to claim success in this field. In 2012, our engine set the unofficial word record in converting solar energy to electricity, with an efficiency close to twice as high as that of competing technologies. Today, we have the world’s best Stirling engine, with the highest output power and an unparalleled efficiency in both solar and gas mode.
We have also worked intensely on adapting the engine for large-scale production together with our production partner, Sibbhultsverken. We offer an efficient engine with low maintenance costs. We are well prepared for a production phase where the price per unit will rapidly fall as the production volume increases.
Furthermore, in order to conquer the Achilles’ heel of solar energy, we have been developing a hybrid adaption for the engine. In 2016, we launched the Ripasso Stirling Hybrid, where solar energy is combined with another fuel-based source of heat in a sole product. This means that Ripasso Energy has a solution that delivers climate-smart electricity not only when the sun is shining, but in any weather conditions and most importantly, when the customer actually demands it. This technology is exclusive to Ripasso Energy, and in March 2017, patent applications for this solution were filed.
In September 2017, we launched a new, container-based solution – PWR BLOK 400-F. In this product, our Stirling engine is used to extract energy from flare and residual gases. Globally, gas is burned (flared) yearly with an energy content matching the entire demand of the African continent. This is energy that is simply wasted. Our solution makes it possible to extract sustainable energy from these residual gases at a price that is in many cases much lower than the market price of electricity. An example where the benefits of our technology are clearly illustrated is the South African ferrochrome industry (a third of the global production). It is an electricity-intense industry producing vast amounts of residual gases that are today simply flared. With PWR BLOK 400-F, it is possible to use these gases to generate electricity at a record-low price of USD 21.7 per MWh. This reduces the need of these industries to purchase electricity from the grid, thereby reducing their total carbon dioxide emissions. In South Africa, the majority of the power produced today is from fossil fuels, meaning that our technology contributes to a significant reduction in CO2 emissions.
On 10 November 2017, we announced that a letter of intent had been signed with a South African ferrochrome producer for the sale of seven PWR BLOK 400-F units. The potential order value totalled EUR 3,766,000, with a delivery time of 12 months. This was the first clear sign that Ripasso Energy is entering a new phase, where sales and production will be more at the centre of our organisation. On 22 December 2017, the first sales agreement was signed with Afarak Mogale Pty, for the sale of seven PWR BLOK 400-F units.
We are well prepared for this phase. A prerequisite for success in the energy sector is, naturally, the price at which we can sell our product. As important today is the fact that the product itself is manufactured in an environmentally-sustainable way that does not increase global emissions. At Ripasso Energy, we are proud to be able to deliver energy that contributes to decreased emissions at a record-low price in the cleantech area.
A third and equally important factor for success, is that the energy produced is available at the time and place where it is needed. This is perhaps the major strength of Ripasso Energy. The rate of construction of renewable energy sources, such as wind or solar, has seen a dramatic increase in recent times. These technologies, however, have their obvious limitations and weaknesses. What to do when the sun is not shining, or the wind is not blowing? The demand for power is still there, regardless of light or weather conditions. Storage and long-distance transmission are both complicated and expensive. Ripasso Energy has the technology to deliver sustainable electricity whenever and wherever the customer needs it, and at a highly-competitive price.
As a result of all this, Ripasso Energy views the future with a large degree of optimism. Since our start in 2008, we have all been motivated by a conviction that we are writing a new chapter in Swedish industrial history. We hope that you will join us in making history together!
CEO and founder